Contact Mortgage, the real estate financing arm of the Contact Financial Holding, announced an increase in its mortgage finance to EGP 6m with a payment plan of up to 10 years, as part of the company’s endeavour to meet the needs of customers and provide innovative financial solutions.
Contact provides mortgage finance services to individuals directly or through real estate developers, with the aim of facilitating the process of obtaining the necessary financing to purchase real estate units and financing construction and real estate development projects.
The company witnessed a growth in the volume of new financing at an annual rate of 88% during the year 2022, driven by improved application processes and an increase in demand for the long-term mortgage product, which extends for 10 years, which made Contact for real estate financing take the lead among companies in the real estate financing initiative by the end of March 2023.
Contact also offers innovative financing solutions to the mortgage financing market in the North Coast and Ain Sokhna which have been seeing great growth in recent years. These innovative solutions will benefit from the great demand by customers, saving the time and effort required to search for appropriate financial solutions.
Ayman Haleem, managing director of Contact Mortgage, said: “We are studying in the coming period the idea of introducing real estate financing for commercial units for individuals in order to reach all the market needs, expansion and diversification to serve customers.”
He indicated that there is a demand for financing commercial units, as well as the tools needed to enter into this type of financing, stressing that Contact focuses on employing excellent and distinguished competencies, in order to provide the best services to customers, through a qualified and experienced team.
Saeed Zaatar, CEO of Contact Financial Holding, indicated that this step comes within the framework of Contact’s strategy to strengthen its position in the real estate finance market, increase its market share, and enhance its ability to better meet customer needs.
Zaatar stressed that Contact will continue to provide distinguished and appropriate services to the group’s clients to meet the challenges of the real estate financing market in Egypt.