The United Bank and the Journalism Syndicate Sign Second Cooperation Protocol to Expand Real Estate Finance Services and Hold an Introductory Seminar on Real Estate Finance Services

01/07/2025

Under the "Housing for all Citizens" Initiative
The United Bank and the Journalism Syndicate Sign Second Cooperation Protocol to Expand Real Estate Finance Services and Hold an Introductory Seminar on Real Estate Finance Services
Cairo: July 1, 2025
In a new step to support the state's efforts to provide suitable housing for all segments of society, The United Bank signed today its second joint cooperation protocol with the Journalism Syndicate. The protocol aims to offer real estate finance services and programs to syndicate members with easy terms and competitive advantages, in line with The Central Bank of Egypt's initiative.
The second protocol was signed by Ashraf El Kady – Chief Executive O and Managing Director of The United Bank, and Khaled El Balshy – Head of the Journalism Syndicate. This took place in the presence of several leaders from The United Bank and members of the Journalism Syndicate.
The protocol states that The United Bank will provide its distinguished real estate finance service packages that suit journalists requirements in the "Nasr Gardens" project in 6th of October City, Giza Governorate, which belongs to Madinet Masr for Housing and Development. This will be through The Central Bank of Egypt's initiatives for low and middle-income individuals, as well as through financing programs offered by UB outside these initiatives, in line with each client's capabilities and requirements.
On the sidelines of the protocol signing, the Journalism Syndicate organized an introductory seminar on real estate finance services offered by The United Bank to journalists and media professionals at the syndicate's headquarters.
During the seminar, Ayman Mohamed – Head of Real Estate Finance, The United Bank presented the main aspects of joint cooperation between UB and the Journalism Syndicate. These included: introducing Real Estate Finance Law 148/2001, amended by 55/2014; explaining the conditions required for purchasing a residential unit; and presenting the conditions of The Central Bank of Egypt's real estate finance initiatives (8% and 3%). The seminar also covered types of real estate finance, both conventional and Sharia-compliant, in addition to showcasing the advantages and packages of financial and digital services provided by UB, which help save time and effort for clients.
Commenting on the cooperation protocol signing, Ashraf El Kady – Chief Executive Officer and Managing Director, The United Bank – stated that UB highly values the significant and important role played by all journalists and media professionals in supporting public awareness and serving societal issues.
He affirmed that this protocol reflects UB's continuous efforts to expand real estate finance services across various governorates, through strategic partnerships that ensure the service reaches eligible recipients with the highest degrees of efficiency and flexibility.
For his part, Khaled El Balshy – Head of the Journalism Syndicate expressed his appreciation for this initiative, which will improve the living conditions of syndicate members, emphasizing the importance of repeating such effective partnerships between financial institutions and professional syndicates.
It is worth noting that The United Bank had previously announced that its real estate finance portfolio exceeded EGP 3 billion by the end of May 2025. This makes UB the seventh largest financier for low and middle-income housing in the Egyptian market, according to the report by the Social Housing and Mortgage Finance Fund.
The United Bank places great importance on digital applications that operate 24/7. This has a significant impact on speeding up transactions to serve real estate finance clients through installment payments via more than 225 ATMs spread across all governorates, in addition to The United Bank's 68 branch network. It also offers the possibility of transferring salaries or switching from another bank without needing to visit branches.
End.