The Urban Development Fund (UDF), affiliated with the Egyptian Prime Minister’s Office, has signed a strategic partnership with Next Bank, one of Egypt’s leading financial institutions. This collaboration aims to promote sustainable development and provide affordable, high-quality housing for middle-income citizens across the country.
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ToggleEnhancing Access to Affordable Housing
Eng. Khaled Sidik, Chairman of the UDF, emphasized that this partnership facilitates flexible and accessible financing solutions for individuals looking to own homes within the fund’s projects. He highlighted the joint commitment to supporting Egypt’s national efforts to offer suitable housing for all segments of society.
A Shared Vision for Sustainable Development
Next Bank’s CEO and Managing Director, Tamer Saif, expressed his enthusiasm for the collaboration, underscoring the bank’s dedication to sustainable development and financial inclusion. He stated that this initiative aims to provide innovative financing options tailored to various customer needs, enabling more Egyptians to acquire housing units. Saif also noted the bank’s pivotal role in enhancing the mortgage finance sector, which has significant economic and social benefits.
Focus on Urban Growth and Livability
The partnership aligns with the UDF’s mission to achieve comprehensive urban development and provide dignified living standards. Eng. Khaled Sidik reaffirmed the fund’s commitment to offering fully finished residential units at affordable prices in prime locations across major cities.
Through the Urban Development of Governorate Capitals and Major Cities project, the fund is making quality housing accessible to a broader demographic, contributing to integrated and sustainable development nationwide.
Future Prospects
This collaboration not only bridges the gap between housing demand and supply but also reinforces Egypt’s efforts to improve living standards. By leveraging the strengths of both entities, the initiative is set to have a lasting positive impact on citizens and the broader economy.
