Tamweel for Real Estate Finance secured the first place during the first half of the current year, according to the Financial Regulatory Authority’s report for the same period. This achievement continues the company’s leadership in Egypt’s real estate finance market, as the company’s results were approved, confirming its top ranking among real estate finance companies in 2019 and maintaining its market leadership through the end of the first half of 2020.

The company achieved new financing worth EGP 283 million, capturing 25% of the market share among real estate finance companies.

Tamweel, specializing in real estate finance, announced a plan to expand in the Egyptian market and diversify its financing portfolio over the next five years, aiming to promote the culture of real estate finance across all social segments.

Last year, the company issued financing of approximately EGP 543 million, achieving 62% growth in its financing portfolio balance, which reached EGP 1.195 billion compared to EGP 670 million in 2018. This placed the company first in real estate finance volume in the Egyptian market with a 21% share of the total market financing. It was also the first real estate finance company to break the EGP 500 million barrier in a single year, during 2019.

Mohamed El-Kahky, Managing Director of Tamweel for Real Estate Finance, stated that the company continues its plan to develop performance and increase its market share by providing diverse financing programs suitable for different segments of society.

El-Kahky added that in recent times, the company has begun addressing the emerging challenges of the COVID-19 crisis by providing innovative digital solutions to simplify access to financing services and expanding its digital transformation and automation processes to facilitate procedures for clients.

In this regard, the company launched a website and a mobile application, becoming the first real estate finance company to fully implement a digital transformation plan and automate procedures, providing remote access to financial transactions and services.

El-Kahky also said that the company applies the latest administrative and technological standards and systems, employing professional staff and diverse management expertise in areas such as sales, business development, marketing, credit, and other departments, enabling it to adapt to changes, overcome the crisis, and turn it into new opportunities.