Al-Ahly Mortgage Finance aims to grow portfolio to EGP 4bn by 2024-end – Dailynewsegypt

Hatem Amer, Managing Director of Al-Ahly Mortgage Finance, a subsidiary of the National Bank of Egypt (NBE), announced that the company aims to achieve exceptional growth in its financing portfolio, targeting a total of EGP 4bn by the end of 2024.

According to Amer, the company successfully issued over EGP 2bn in new mortgage finance in 2024. This was achieved through a variety of Programmes designed to finance residential, administrative, and commercial units, catering to the diverse needs of mortgage finance customers in Egypt.

He explained that these specialized Programmes were key to attracting new customer segments, including Egyptians working abroad, residents in Egypt with foreign income sources, and regional and multinational companies seeking to acquire administrative properties. These successes were driven by thorough studies of the real estate market and its evolving demands.

Al-Ahly Mortgage Finance was also recognized with the “Most Innovative Company in Egypt for 2024” award by International Business Magazine, a prestigious institution specializing in market analysis and financial sector evaluations.

Amer emphasized that this award is a reflection of the company’s leadership and position in Egypt’s mortgage finance sector, as well as its dedication to providing the best possible experience for its customers.

He further highlighted that the company achieved these results despite significant challenges in the Egyptian market, including ongoing fluctuations in exchange rates, high inflation, and rising real estate prices across various sectors. The company’s resilience, he said, was key to its success, enabling it to launch innovative solutions that addressed these challenges, with full support from NBE, the largest Egyptian bank.