Cairo:Al Ahly Sabbour, leading developer in Egypt’s real estate market, signed a tie-up with CIB – Commercial International Bank to provide “Green Square” Project in New Cairo with mortgage finance services. Green Square area is 80 acres, located in Mostakbal City with 1.08 bn EGP in investments. Al-Ahly Sabbour's Eng. Ahmed Sabbour and CIB's Mr. Ahmed Eissa inked a Tie-Up in the presence of senior officials from both companies.
Eng. Ahmed Sabbour – CEO of Al Ahly Sabbour said: “through signing this tie-up, we can benefit from the Mortgage Finance initiatives that the Central Bank has offered. Granting our clients the opportunity to get middle and above-middle housing units; which coincides with Egypt’s 2030 vision.” Sabbour added, “The clients can acquire their housing units with relative ease in Green Square. Our clients deserve a level of luxury, security, and stability with a suitable price. Green Square units are ready to move, thanks to the tie-up between Al Ahly Sabbour and CIB with a long instalment up to 20 years at a low interest rate as part of the Central Bank initiative for Mortgage Finance.” On another front, Mr. Ahmed Eissa CEO of Retail Banking CIB said “the Egyptian Mortgage Finance initiative is an unprecedented one. The initiative has given developers, investors, and financial institutions a new look on the sector’s demands, renovating the Egyptian real estate industry”. Eissa added “we believe that it is important to find new financial alternatives that meet the ever-changing needs of our clients. As the real estate sector proved to be the main investment option, CIB has collaborated with AL Ahly Sabbour- one of the biggest leading real estate companies in Egypt. As the company has 62 different projects under its name over the past 26 years, it always meets its clients’ expectation and gives credibility to its name. The tie-up demonstrates a remarkable addition to both entities, which benefits shared clients of Al-Ahly Sabbour and CIB.
For those who wish to be a part of Al Ahly Sabbour’s “Green Square”, CIB offers three different payment plans that can reach a period of 20 years instalments. As part of the Central Bank initiative, the first plan consists of 20% down payment, while the second has an alternative plan that caters to those who aren’t part of the Central Bank initiative. The third plan is suitable for resale purposes for Al Ahly Sabbour existing senior clients.
Al Ahly Sabbour’s “Green Square” is located in the heart of New Cairo with direct access to the Middle Ring Road, in front of The Canadian University & The Olympic Village in the New Administrative Capital, and 3 minutes from the Suez Road; "Green Square" is easily accessible from a variety of points of interest. On the site, 1128 units ranging in size from 125 m2 to 265 m2 ranging from Villas, Town Houses, and Duplex Apartments. Al Ahly Sabbour is delighted to announce that 85% of the first phase of Green Square is finished and is ready to move since March of 2021. Al Ahly Sabbour was the first real estate company to develop in Mostakbal City, with the debut of "Green Square". Due to the high-end amenities supplied by the project, its residents will enjoy a stable and safe lifestyle. There are a variety of international restaurants & cafes, gym, stores and medical centres, nursery, clubhouse, swimming pools among other amenities. Luxury, enjoyment, and seclusion are just a few things that caters to our clients. With collaboration with Dr. Yasser Al-Beltagy, “Green Square” is made with unique and beautiful designs where 95% of the project is finished and ready to move.
Al Ahly Sabbour is always enthusiastic in providing all new alternatives real estate developments and aims to delivering the highest level of service for their clients. “Green Square” is part of AL Ahly Sabbour’s fruitful 26 years of experience in real estate development; as their debut in Mostakbal City, being the first project to be inhabited.
Al Ahly Sabbour provides high-end services and facilities for their clients. Over 26 years, the company has projects that spread all over Egypt’s eye-catching landmarks; proudly serving 40,000 families and developing over 7.000.000 million m2 all over Egypt. For example, “KEEVA” & “DARAH Gardens” in 6th of October, “The City of Odyssia” in partnership with El Mostakbal For Urban Development in New Cairo, “Green Square” in partnership with the Dar Al-Maali of Saudi Arabia & “L’Avenir” in partnership with the Kuwaiti Manazel, all in Mostakbal City, “Katameya Hills”, “Katameya Residence”, “Grand Residence”, and “The Square” in the 5th Settlement. Along with “Amwaj” & “GAIA” in the North Coast, “Rivette Mall” & “Sunterra” in Sharm El Shaikh, and “Piacera” in Al Ain Al Sokhna.
On another front, the Commercial International Bank (CIB) in Egypt is one of the biggest banks of the private sector in Egypt. CIB aims at facilitating a wide and distinct range of banking services and solutions specifically designed to meet the needs of its growing client base, high net worth individuals, institutions, and companies of all kinds.
© Press Release 2021