Tamweel Emirates celebrated its official entry into Egyptian market

Most prominent amongst these guests was Ossama Saleh, Chairman of the Egyptian Mortgage Finance Authority and His Excellency Hassan Ahmed Al-Shehi, Acting Charge d'Affaires at the UAE Embassy in Cairo, as well as a large number of officials from the Egyptian Ministry of Investment and the Egyptian Mortgage Finance Authority.

Welcoming the guests was Sanjay Sharma, CEO of Tamweel International, and Ahmad Abouzeid, CEO of Tamweel Emirates - Egypt.

It is worth mentioning that Tamweel Emirates is an Egyptian public company with an authorized capital of LE500m, and is wholly owned by Tamweel Holdings, headquartered in Dubai and considered the largest mortgage finance company in UAE, Tamweel has received a numerous international awards, including most recently 'The Best Mortgage / Home Finance House' in the Middle East region at the 'Banker Middle East' Industry Awards.

Osama Saleh, Chairman of the Egyptian Mortgage Finance Authority, stated:

'We are extremely happy with Tamweel's entry into the Egyptian market, bringing years of extensive experience and unique services to would-be Egyptian home owners. We expect the mortgage market in Egypt to grow significantly, and as the market expands we expect increased competition, which is ultimately beneficial to real estate investors including low and med income prospective buyers.'

Sanjay Sharma, CEO of Tamweel International, said: 'In view of what the group has accomplished since 2004 when Tamweel first started, and in keeping with its strategy to expand regionally in the coming period, it was our decision to commence this expansion first into Egypt, especially given the good relationship and standings that link the two countries, The recent growth in the Egyptian real estate market was also a large factor in reaching this decision.'

Ahmad Abouzeid, CEO of Tamweel Emirates, added: 'The last two years have witnessed a massive growth in real estate investment and development, and there is still a need for a variety of services offered to investors to meet their growing needs and demands. This is what Tamweel Emirates will provide through a unique set of mortgage solutions and services, and with a highly qualified and trained staff committed to our core values of caring professionalism, preserving confidentiality, reliability and teamwork, all of which will undoubtedly lead to the growth of the Egyptian real estate market and ultimately have a direct positive impact on the Egyptian economy.'