In a new move reflecting the Egyptian state’s strategic direction towards providing appropriate housing for all segments of society and enhancing sustainable urban development, the New Urban Communities Authority (NUCA), affiliated with the Ministry of Housing, Utilities, and Urban Communities, has signed a cooperation protocol with Banque Misr. The aim is to activate the free mortgage finance system for residential units owned by the Authority and to support efforts to empower citizens to own ready-made, fully serviced units in new cities. The protocol was signed by Mrs. Hind Fahmy, Head of the Financial Inclusion and Mortgage Finance Sector at Banque Misr, and Eng. Ahmed Ali Mohamed Hassan, Vice President of the New Urban Communities Authority.

This cooperation comes within the framework of the Ministry’s endeavor to expand the base of mortgage finance beneficiaries by providing flexible and sustainable financing solutions with long repayment periods and accessible down payments that suit the capabilities of various income brackets. This is done while maintaining a balance between economic and social dimensions, and opening new horizons for Egyptians working abroad as well as Arab and foreign investors to participate in the Egyptian real estate market under the "Exporting Egyptian Real Estate" initiative.

This agreement is part of the Ministry’s plan to expand partnerships with banking and financial institutions, thereby enhancing integration between state agencies and the banking sector in implementing the state’s vision for urban development. It aims to empower citizens to own property and create an attractive investment environment that supports the national economy. The protocol reinforces the Ministry’s direction towards channeling funding to ready-made and fully serviced units in new cities, which ensures speed of implementation, reduces traditional procedures, and allows citizens to receive their units immediately without waiting for construction or delivery phases.

For her part, Mrs. Hind Fahmy, Head of the Financial Inclusion and Mortgage Finance Sector at Banque Misr, affirmed that this cooperation is an extension of Banque Misr’s role in supporting vital sectors of the Egyptian economy, foremost among them the real estate sector, which is a main engine for economic growth and a fundamental tributary for sustainable development. She noted that Banque Misr is working to expand the scope of free mortgage finance to keep pace with market needs and provide innovative solutions that suit different customer segments. She explained that this step would make the mortgage finance experience smoother and more flexible, supporting the Bank's direction towards enhancing financial inclusion and empowering citizens to access banking products with ease.

It is worth noting that Banque Misr’s mortgage finance portfolio reached approximately EGP 24 billion by the end of September 2025, benefiting nearly 155,000 clients. This reflects the Bank's strength in managing finance programs and meeting the needs of various segments of society, whether for residential, administrative, or commercial units. The Bank is always keen to offer mortgage finance programs characterized by flexibility and innovation, in support of the state’s initiatives in urban expansion and the development of new cities.

Furthermore, Banque Misr strives to participate in numerous protocols and initiatives that support sustainable development, consistent with the goals of Egypt Vision 2030. This cooperation comes as a step toward focusing on housing and urban development projects, which represent one of the main axes for comprehensive growth and improving the quality of life for citizens.