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Bloomberg HDB to set up mortgage finance company Egypt's Housing and Development Bank said it will establish a 28 percent-owned mortgage financing company in partnership with investors from Egypt and the UAE, with a capital of LE 150 million. Alaa Ayoub, Chief Executive Officer DAMAC Properties Egypt commented on HDB and its associates recently acquiring 60 % of DAMAC Properties' development at Hyde Park New Cairo. HDB told the Egyptian Stock Exchange it would acquire a 30 per cent stake in the project, while 20 per cent would be acquired by another Egyptian bank and 10 per cent by an investment firm in Egypt. |
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