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Monday, 22 April 2019 18:26
Finance
Egypt: EFG Hermes, GB Capital and Talaat Moustafa Group launch $8.6 mln joint-venture for mortgage financing
Monday, 22 April 2019 18:26
(Ecofin Agency) - EFG Hermes Finance, BG Capital and Talaat Moustafa Group (TMG) will launch an $8.6 million joint-venture to offer mortgage financing. This fund could increase to $14.5 million in the coming years.
This fund will leverage the about four decades of experience Egyptian group Talaat Moustafa Group (TMG) has in real estate development in Egypt.
According to Karim Awad, managing director of EFG Hermes Holding, the Egyptian real estate market is underexploited by financial institutions, hence the creation of this joint-venture to offer financing services to actors in this market.
Chamberline Moko
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