Arab Finance: Bank NXT has signed a cooperation protocol with the Urban Development Fund (UDF), affiliated with the cabinet, to enhance real estate opportunities across the country, as per an emailed press release by EFG Holding, which holds a 51% stake in Bank NXT.

The agreement aims to facilitate mortgage financing for individuals from various income levels to purchase housing units owned by the fund.

This collaboration aligns with Bank NXT’s commitment to supporting the Central Bank of Egypt’s (CBE) real estate financing initiatives, particularly for mid-income groups.

The protocol offers a blend of mortgage options and free-market financing solutions to meet different customer needs.

Under the agreement, the bank will provide long-term financing with competitive interest rates and flexible repayment terms.

Customers will be eligible for loans of up to EGP 15 million to acquire properties in governorates across Egypt.

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