Egypt: EFG Hermes, GB Capital and Talaat Moustafa Group launch $8.6 mln joint-venture for mortgage financing
Monday, 22 April 2019 18:26
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
Live News
-
AFD and GEAPP Support Pilot Battery Storage Project in Togo
20:32
-
Guinea updates its GDP, showing 51.2% structural growth and confirming its economic strength
19:12
-
Breast Cancer Breakthrough: A Promise Unevenly Shared (op-ed)
18:37
-
Atlantic Lithium Seeks Partners for Côte d’Ivoire Exploration
16:40
-
Togo Provides Financial Support to Twenty Young Entrepreneurs in Savanes Region
16:34
-
Clarification of the article published by Business in Cameroon
15:18
-
Cameroon Targets 8 Million New Electricity Connections by 2030 under Mission 300 Drive
13:58
-
BlueInvest Africa: Kplolali AhamaAwarded for Aquaponics Project
11:37
-
Burkina Faso Launches Digital Hub to Build Local Industrial Base
11:27
-
CEMAC's Gimacpay Tops XAF601.7B in Transactions in 2023, Driven by Mobile Money
04:20
• The five-year plan allocates 388 billion pulas to boost growth and jobs.• Focus areas include tran...
• Parliament approves Virtual Asset Service Providers Bill 2025 to regulate digital assets• Central ...
Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...
• The Bank urges Nigeria to raise excise taxes on alcohol, tobacco, and sugary drinks.• Current rate...
Copper prices hit $10,775/t, their highest since May 2024, driven by a weak dollar and recent...
Feasibility studies to prepare a 55 MW pilot storage project. Initiative to guide Togo’s national roadmap for energy storage. Project aligns with...
Breast cancer remains the leading cause of cancer deaths among women worldwide. In Africa, where health systems are under strain, the World Health...
Australia’s Atlantic Lithium reported “impressive lithium anomalies” on its Rubino and Agboville licenses in Côte d’Ivoire and is seeking partners to...
TotalEnergies, Perenco, and Assala Energy account for over 80% of Gabon’s oil production, estimated between 220,000 and 236,000 barrels per day. The...
The Great Zimbabwe National Monument stands as one of southern Africa’s most iconic archaeological sites, a silent witness to a thriving African...
African countries prepare to celebrate Intangible Cultural Heritage Day Planned events spotlight traditions, rituals, and cultural...