New Avenue Real Estate Consultancy Co. has entered into a strategic cooperation with Abu Dhabi Islamic Bank “ADIB” to provide property financing services to the company’s clients with repayment periods of up to 15 years and competitive returns, within the framework of New Avenue’s keenness to offer exceptional and unconventional solutions to its customers and to push sales in the real estate sector.
Abu Dhabi Islamic Bank “ADIB” provides, according to the cooperation agreement, the financing to new and existing New Avenue’s clients to purchase residential, commercial or administrative units.
The bank offers financing for residential units up to 80% of the unit price, at a value of up to EGP15 million, with repayment of up to 15 years, and for commercial and administrative units, financing is granted at a rate of up to 70% of the unit price, at a value of up to EGP25 million, with repayment available for up to 10 years.
Mohamed Ali, CEO and Managing Director of ADIB Egypt, stated: “We are pleased to provide our financial services and support companies that contribute to supporting the real estate finance sector and advancing the economic development process in Egypt in general, as we always seek to support the leading companies in this field”.
He declared that the bank is keen to cooperate with serious companies, and “New Avenue” has proven its seriousness and gained in a record time the trust of major developers and clients in the real estate sector, and it expects that cooperation will contribute to achieving more positive results.
Commenting on this, Ahmed El-Desouki, CEO and Managing Director of “New Avenue Co.”, said that the company, since its launch in the Egyptian market, has been keen to work with the most prominent institutions in various fields to provide its customers with the best services.
He revealed that the company’s cooperation with ADIB Egypt stems from the prestigious position it enjoys as one of the largest banks that provide banking solutions compatible with the provisions of Islamic Sharia.
New Avenue Real Estate Consultancy Co. has been launched in the Egyptian market since 2015 and has been able to gain the trust of a wide range of property companies and clients to become one of the most prominent real estate marketing companies that provide innovative marketing solutions and consultancy to major developers of the property sector.
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