Cairo - Mubasher: City Edge Developments signed a cooperation protocol with Credit Agricole-Egypt as part of the mortgage finance initiative launched by the Central Bank of Egypt (CBE). 

Under the protocol, the bank will finance real estate units for medium housing through long-term loans, according to a statement on Tuesday. 

City Edge customers will get payment facilities from Credit Agricole through three mortgage plans.

The first includes providing mortgage finance with a 20-year repayment period and a minimum down payment of 20% within the framework of the CBE's initiative, while the second plan offers several payment periods for units that are not included in the initiative, up to 20 years according to the real estate finance law. 

Moreover, the third plan includes payment periods of 20 years to previously contracted clients who wish to sell units to others according to the re-sale system.