Thika, the organiser of TREEX exhibition, signed a cooperation protocol with the United Bank of Egypt that includes the participation of the bank in the exhibitions organised by the company, in addition to financing of the exhibition’s customers within the initiative of the Central Bank of Egypt (CBE) for the financing of middle-income people with low interest rate.
The bank will activate the cooperation next month within TREEX exhibition in Assiut next month, according to the chairperson of Thika, Mohamed El Dahshory.
El Dahshory told Daily News Egypt that the bank will finance the company’s exhibition’s customers, who meet the financing conditions, and the bank will present middle-income housing units of companies with which the bank is contracted, to provide finance in light of the CBE’s initiative.
TREEX will be held in Assiut from 23 to 27 November.
El Dahshory added that the cooperation with the United Bank will contribute to meeting the needs of the people of Upper Egypt through the provision of various financing alternatives for the purchase of housing units, either companies that offer special offers during the days of the exhibition or through the mortgage financing system within the bank.
He noted that the exhibition is the first in the governorates of Upper Egypt to increase the client base and enter new markets with a strong purchasing power both for projects in cities near Cairo and in coastal areas, as well as projects in the new cities in Upper Egypt.
From his part, Head of Mortgage finance Unit at United Bank Mohamed Samir said that the bank participates in the activities of TREEX in Assiut governorate as part of its plan to deepen awareness of the importance of mortgage finance programmes and expand the provision of financing to customers.
Samir noted that lack of public awareness on mortgage finance programmes and features of such finance, which is considered one of the obstacles facing the Egyptian mortgage market. This made the United Bank to participate in the exhibition to spread the culture of real estate finance to achieve the benefit from the enormous advantages offered by the CBE for mortgage financing of individuals.
Samir revealed that the United Bank will soon offer new mortgage fund programmes to suit all the needs of clients.