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City Edge, Suez Canal Bank sign mortgage funding protocol

City Edge, Suez Canal Bank sign mortgage funding protocol
City Edge is developing several projects in Sheikh Zayed, New Alamein, and New Mansoura
Suez Canal Bank
CANA
4.71% 8.15 0.38

Cairo – Mubasher: City Edge Developments signed a protocol of cooperation with Suez Canal Bank as part of the Central Bank of Egypt (CBE) initiative for providing various mortgage financing plans.

The first plan includes a mortgage finance for City Edge’s customers over a 20-year repayment period with a 20% advance payment, according to a statement on Wednesday.

In addition, the second plan provides different payment periods up to 10 years for units that are not included under the CBE’s initiative, while the third plan includes various payment periods over 10 years for customers wishing to resell their units.

City Edge Developments is the developer of several property projects in Sheikh Zayed, New Alamein, and New Mansoura, along with several residential, commercial, and administrative projects in the new administrative capital.