Ayman Abdel Hamid: Al Oula company intends to increase the construction capital for financial leasing to 300 million pounds

Ayman Abdel Hamid, Managing Director and Vice-Chairman of the Board of Directors of Al Taamir Mortgage Finance - Al Oula, revealed that the company intends to continue to invest in successful companies such as reconstruction for financial leasing and intends to contribute to increasing its capital to 300 million pounds, compared to 170 million pounds, and that the company maintains the same percentage 90%, She also intends to participate in increasing the capital of the Real Estate Development Development Corporation.

It was explained that the company contributes to the Development Corporation for Financial Leasing by 90%, and contributes to the Development Real Estate Development Company by 94%, and there are contributions to other companies at lower rates such as the Housing Insurance and Construction Company for securitization.

On the strategy of the Al Taamir Mortgage Finance - Al Oula, Ayman Abdel Hamid explained that the company aims to remain number one in the real estate finance market, by preserving the achievements made by the company and working to provide the best services to meet the needs of customers and face competition in the market.

He added that the real assets of the company are divided into assets owned by the company such as subsidiaries and assets owned by the company from its troubled customers, and there are about 20 cases of defaults that have been settled with customers by paying in kind 30 million pounds.

He explained that the company has a large number of low income customers within the National Project for Social Housing and represents more than 8,000 customers, noting that the company allows these customers within the National Housing Project to pay the instalments through electronic portfolios.

He pointed out that the new real estate financing initiative with a 3% return is an unprecedented historical, national and national initiative because all the parties involved are government sectors and state-owned enterprises. Therefore, the main goal is to provide suitable housing for citizens of low and middle income.