Banque du Caire and AIN for Franchise Investments (TAKYIEM Asset Management and Marketing) have signed an agreement to market, promote, and finance residential units for the Presidential Initiative to develop provincial capitals and major cities, on behalf of the Urban Development Fund.
The signing ceremony was attended by Tarek Fayed, Banque du Caire’s Chairperson and CEO; Bahaa El-Shafie, Executive Vice Chairperson of Banque du Caire; Mohamed Kamel, Chairperson of TAKYIEM Asset Management and Marketing; Khaled Sadek, Chairperson of the Urban Development Fund; Magdi El-Serty, Chairperson of the Egyptian Production Company for Projects and Engineering Consultations; and Abdel Hamid Mortagy, Acting Head of the Investment Sector at Banque du Caire, along with several leaders from both the bank and the company.
Tarek Fayed, Chairperson and CEO of Banque du Caire, stressed the importance of this agreement. He highlighted the great importance of the Urban Development Fund projects to achieve comprehensive economic development. He also explained that under the agreement, Ain assigned Banque du Caire to cooperate with it in marketing and selling the housing units belonging to the Fund, which were assigned to the company by the Military Production Company for Engineering Projects and Consultations, to achieve the maximum benefit from those units, supported by the technical competencies in the bank.
Mohamed Kamel, Chairperson of TAKYIEM, expects that this cooperation will result in controlling the prices of residential units and making them accessible to everyone, especially since the bank has great plans to facilitate payment, through easy instalments.
Bahaa El-Shafie, Executive Vice Chairperson of the Bank, said that this agreement is important for achieving the maximum benefit from the expertise of Banque du Caire. It is one of the largest banks operating in the banking sector, and the bank has extensive experience in the field of marketing, promoting, and financing real estate assets, and the necessary mechanisms and tools.
Abdel Hamid Mortagy, Acting Head of Banque du Caire’s Investment Sector, indicated that according to the agreement, reservations are made through the Bank’s website. He explained that customers have the right to choose their preferred method of purchasing units through the installment system under the terms of the Urban Development Fund in the case of installments for a maximum period of five years, with the option to extend that period and the bank funding the purchase.
