Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Fund, and Tarek Fayed, CEO and Managing Director of The United Bank, signed a new cooperation protocol aimed at strengthening the partnership between the two parties in the field of real estate financing.
Mai Abdel Hamid confirmed that The United Bank is a key strategic partner of the Fund in this field, as this partnership contributes to supporting low- and middle-income citizens who aspire to own residential units within the projects offered by the Fund.
She added that the new protocol represents an extension of the previous cooperation agreement signed on September 1, 2020, and aims to increase the value of the mortgage finance provided to reach EGP 5 billion. This expansion reflects the depth and importance of this ongoing partnership.
For his part, Tarek Fayed stated that this protocol embodies The United Bank’s vision under the slogan “Move Forward with Us,” which provides broader opportunities for citizens to achieve housing and family stability through affordable real estate financing programs that take into account their economic circumstances. This, in turn, contributes to promoting social justice.
Fayed revealed that The United Bank’s mortgage finance portfolio has exceeded EGP 3.4 billion, serving more than 17,500 clients across various governorates. He emphasized the vital role of the bank’s 68 branches spread across the country, especially in Upper Egypt and the Delta regions, in facilitating procedures for Fund customers. He also highlighted the provision of modern digital services to streamline payment operations.
At the conclusion of the signing ceremony, both sides reaffirmed their commitment to continuing cooperation in the field of real estate finance and enhancing future partnerships across various sectors to serve a larger segment of low- and middle-income citizens.
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