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And cut the bank Central Bank of Egypt The key interest rates are 150 basis points Thursday for the first time since February.
The overnight deposit rate fell from 15.75% to 14.25% and the 24 year mortgage rate from 16.75% to 15.25%.
Managing Director Hisham Talaat Mustafa "The interest rate cut is a positive decision that will have an impact on the recovery of the sector and will increase the demand for purchases."
He continued: "Reduce The interests Investors are tempted by financial instruments to move towards the real estate market.
Many real estate developers have suffered L & # 39; Egypt The recent slowdown in the demand for luxury housing has prompted companies to develop new marketing methods, such as increasing repayment times, between 10 and 15 years, among others.
While the number of contracts and sales of a large number of companies has decreased, the group's contracts have reached Talaat Mostafa 21.3 billion pounds ($ 1.29 billion) in 2018, compared to 13.1 billion pounds in 2017. The group targets contracts worth 24 billion pounds in 2019.
The most important projects of society in Cairo "Al Rehab City" And "My City" Project Eastern Cairo, built on an area of eight thousand hectares.
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The Egyptian central bank lowered its key rates by 150 basis points on Thursday for the first time since February.
The overnight deposit rate fell from 15.75% to 14.25% and the 24 year mortgage rate from 16.75% to 15.25%.
"The rate cut is a positive decision that will have an impact on the recovery of the sector and will increase the demand for purchases," said Managing Director, Hisham Talaat Mustafa.
"Interest rate cuts are trying investors to use financial instruments to enter the real estate market."
Many property developers in Egypt have recently suffered from the slowdown in demand for luxury housing, which has led companies to develop new marketing methods, including lengthening repayment terms from 10 to 15 years.
While the number of contracts and sales of a large number of companies in the sector have decreased, the Talaat Mustafa Group's contracts amounted to 21.3 billion pounds ($ 1.29 billion) in 2018, compared to 13.1 billion pounds in 2017. The target group contracts worth 24 billion pounds in 2019.
The company's largest projects in Cairo include "Rehab City" and the "Madinaty" project in East Cairo, which are built on an area of 8,000 acres.
