A Step In The Right Direction In Regard To Mortgage In Egypt

This past Wednesday, March 4, a contract was signed between Mohammed Saleh Salem, of the Egyptian Arab Land Bank (EALB) and Iman Ismail, of the Egyptian Mortgage Finance Company (EMRC). This is the first signing of this type in Egypt. What it signifies is the government and private sector recognition for the growing demand in social housing and the long-term mortgage financing necessary to shelter this demand.