TBK Developments signs cooperation agreements with Export Development Bank, Tamweel

Daily News Egypt
2 Min Read

TBK Developments has signed two cooperation agreements with the Export Development Bank of Egypt (EBE) and Tamweel Mortgage Finance Company.

This cooperation comes in the framework of the company’s constant keenness to meet the needs of customers and support the state’s directions through the initiatives of the Central Bank of Egypt for real estate financing, which contributed to meeting the customers’ needs and facilitating the purchase of units for those wishing to pay the unit price in installments, and providing payment plans for long periods. With systems that suit all customers’ needs, hence being the first company in the Fifth Settlement to offer distinctive financing solutions from the “90 Avenue” project.

Ali El-Sherbani, chairperson of TBK Developments, said that the company seeks to conclude various partnerships for the benefit of its clients, pointing out that TBK seeks to facilitate the customers in owning the housing units they desire in the 90 Avenue project, pointing out that the state supports the real estate development file as well as the urban development file.

El-Sherbani noted that the financing agreement with the EBE provides financing plans with an interest rate not exceeding 8%, for periods of time up to 20 years, with easy banking procedures for customers. Additionally, it targets customers who want to finance over relatively long periods, as it provides payment systems for up to 15 years, with various payment plans to make it easier for them to pay installments.

It is noteworthy that the 90 Avenue project is located in Fifth Settlement, New Cairo, with the units’ number including more than 1,450 housing units, commercial and recreational spaces up to 60k meters, and an administrative area of ​​25k sqm, in addition to the commercial mall. The 1st phase has been fully delivered. The 2nd phase will be delivered by March 2022. The 3rd phase will be delivered in 2023. The whole project will be completed in 2024.

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