Egypt’s mortgage lending may nearly double by 2011

Egypt’s mortgage lending may increase to E£8bn (US$1.4bn) by the end of June next year, Mostafa El Hayawan, chairman of the state-run Mortgage Finance Fund, said. Mortgage finance in the Arab world’s most populous country has increased from about E£200m in 2005 to E£4.43bn this year, Investment Minister Mahmoud Mohieldin said at a housing conference in Cairo today.

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