“Tamweel Holding for Investment” Plans to Provide EGP 1.2 Billion in Mortgage Financing in 2022

Tamweel Holding for Investment plans to provide EGP 1.2 billion in mortgage financing during the current year, representing an increase of approximately 25% compared to last year.

In 2021, Tamweel Holding granted mortgage loans amounting to EGP 1 billion, with 80% allocated to individual clients and 20% directed towards the purchase of portfolios from real estate developers.

Mohamed El-Kahky, Managing Director of Tamweel Holding for Investment, stated that the company primarily focuses on the upper-middle and luxury segments, which represent 95% of its total portfolio. He explained that residential properties account for around 70% of total financing, with the remaining share directed towards administrative and commercial properties.

He noted that the company’s portfolio has grown from EGP 670 million in 2018 to EGP 2 billion currently, adding that the company’s participation in the current mortgage finance initiatives remains limited.

El-Kahky added that the company primarily relies on bank facilities to ensure liquidity and is negotiating to borrow around EGP 900 million this year.

Tamweel Holding is also in talks with several local banks to obtain loans worth EGP 2 billion in 2022.

He further mentioned that the group’s current outstanding loans amount to approximately EGP 4 billion, a figure expected to rise to EGP 6 billion after securing the new loans.