Egypt Central Bank asks banks to list property loans
The Central Bank of Egypt has requested banks to compile data on real estate project loans, including detailed information about 15 real estate development companies that received funding. The data also specify projects that are not in compliance with payment schedules and the rates of default. This comes as part of efforts to ensure timely delivery of real estate units, in line with directives from Egyptian President Abdel Fattah El Sisi to form a committee to oversee the implementation of real estate projects and ensure delivery deadlines are met. This initiative responds to complaints about delays from some developers in completing and handing over units.
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