Egypt’s mortgage finance sector remains severely underdeveloped, accounting for only 0.3% of gross domestic product, compared with around 41% in markets such as Morocco and South Africa and nearly 50% in the United States, according to Ihab Omar, Managing Director and CEO of Qastali Mortgage Finance. Financing challengesDespite strong underlying demand, real estate developers continue to face major difficulties in securing financing, Omar said. Bank approval processes can take up to eight months, while mortgage finance companies are regulated under the same framework as consumer finance firms, despite fundamental differences between the two activities. “Unlike consumer finance, mortgage lending is backed by fixed assets rather than consumable goods,” he explained. Omar also pointed to the reliance on a single foreign credit rating agency to assess mortgage finance companies, with fees charged in U.S. dollars.

Source: Daily News Egypt January 11, 2026 16:28 UTC