{"id":598694,"date":"2019-06-02T04:00:39","date_gmt":"2019-06-02T04:00:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/central-bank-to-subsidize-middle-income-housing-mortgage-with-egp-50-bn\/"},"modified":"2019-06-02T04:00:39","modified_gmt":"2019-06-02T04:00:39","slug":"central-bank-to-subsidize-middle-income-housing-mortgage-with-egp-50-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/central-bank-to-subsidize-middle-income-housing-mortgage-with-egp-50-bn\/","title":{"rendered":"Central bank to subsidize middle-income housing mortgage with EGP 50 bn"},"content":{"rendered":"

<\/a> The Central Bank of Egypt (CBE) announced on Thursday it will provide EGP 50 bn to reintroduce subsidized mortgages for middle-income homeowners<\/b>, according to a statement (pdf)<\/a>. A committee with members from the central bank, local banks, and real estate developers will be formed to discuss the specifics of the financing. The mortgage financing program is meant to support the real estate sector to expand projects that \u201cwill have an economic impact in employment, GDP, and the economy,\u201d the statement says.<\/p>\n

Background:<\/b> Earlier in April, the central bank has agreed to a proposal from the Federation of Egyptian Industries\u2019 Real Estate Development Chamberto reintroduce lower interest rates for would-be middle-income homebuyers<\/a>. The initiative will offer preferential interest rates of 10.5% to prospective homeowners starting from July, the chamber\u2019s chairman Tarek Shoukry said at the time. A similar program originally ran from 2014 until January this year and offered middle-income homeowners long-term loans at a 5-7% rate of interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Egypt (CBE) announced on Thursday it will provide EGP 50 bn to reintroduce subsidized mortgages for middle-income homeowners, according to a statement (pdf). A committee with members from the central bank, local banks, and real estate developers will be formed to discuss the specifics of the financing. The mortgage financing program […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2061,83,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598694","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-mortgage-finance","tag-real-estate","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d6474152-e675-4d3a-9547-efb684f7b4f8","is_powered_by":true,"section_story_id":"d8b1dfd9-2817-4787-859a-fb8df8247a4d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598684],"teaser":"","voice_url":""},"yoast_head":"\nCentral bank to subsidize middle-income housing mortgage with EGP 50 bn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/central-bank-to-subsidize-middle-income-housing-mortgage-with-egp-50-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central bank to subsidize middle-income housing mortgage with EGP 50 bn\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Egypt (CBE) announced on Thursday it will provide EGP 50 bn to reintroduce subsidized mortgages for middle-income homeowners, according to a statement (pdf). A committee with members from the central bank, local banks, and real estate developers will be formed to discuss the specifics of the financing. 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