Egypt’s mortgage finance volume hits high in 6 months: FRA – ZAWYA - 24line

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الاثنين، 15 أغسطس 2022

Egypt’s mortgage finance volume hits high in 6 months: FRA – ZAWYA

The volume of mortgage finance provided by companies in Egypt amounted to around EGP 7.27 billion in the first half (H1) of 2022, Ahram Gate reported on August 14th, citing the Financial Regulatory Authority’s (FRA) monthly report on the performance of the non-banking financial activities.

This marks a 135.5% growth as compared to EGP 3.08 billion in the six-month period of 2021, the report highlighted.

In June, mortgage finance companies granted financing worth about EGP 2 billion, surging by 165.8% from EGP 754 million in June 2021, the report showed.

The value of mortgage refinances recorded EGP 745 million at the end of June 2021, down by 23.6% from EGP 975 million at the end of June 2021.

The number of mortgage finance contracts rose by 87.5% to 5,500 in the first six months of 2022 from 2,900 contracts in the same period last year.

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