FAQ



- Least financing cost
- Longest possible settlement period, close to the new rental value, with the privilege of the property ownership.
- Ownership of the property since the taking delivery date
- Properties are registered and ready for handing over

- Determination of budget
- Preparation of required documents
- Engineering appraisal of the unit for fixing its market value
- Fulfillment of the decided collateral coverage
- Signing the unit contract by the financing quarter
- Registration of the unit in the customer's name and mortgaging it in favour of the financing quarter.

- Identity documents
- Income verification documents

- A (valid) national identity card
- A passport in case of the Egyptians working abroad
- A copy of the residence card

In case of the individuals working abroad:

A recent income statement issued by the work quarter, addressed to the (Egyptian Arab Land Bank), comprising:

- Salary items statement
- Post
- Date of appointment
- Work quarter seal
- Signature of the manager in charge
- Bearing the date - drawn up on / /200-
- It should be legalized by the Egyptian Consulate in the country where the customer works and by the Egyptian Ministry of Foreign Affairs.

For the private, public sector, the government or others

A recent income certificate issued by the work quarter, addressed to the (Egyptian Arab Land Bank), comprising:

- Salary item statement
- The post
- Date of appointment
- Work quarter seal
- Signature of the manager in charge
- Bearing the date - written on --/--/200-
For the people who works abroad in the European countries

Documents that represents the company (the company contract and the company license approved in the Chamber of Commerce)

Bank statement and the last 3 tax returns and the last budgets bound into the Egyptian consulate in the country in which the customer work and approved from the Ministry of External Affairs in Egypt
For businessmen in Arab Countries - abroad/b>

- The corporation documents, including the company's legalized contract and the corporation license ratified by the Chamber of Commerce.
- An income certificate issued by a chartered accountant, addressed to the (Egyptian Arab Land Bank), comprising:
- Type of activity
- Date of starting thereof
- It should bear the date, written on --/--200-
-
Particulars about the Company's financial position, legalized by the Egyptian Consulate in the country where the customer works & by the Egyptian Ministry of Foreign Affairs.
- A bank statement, the last three tax returns and the last three balance sheets, legalized by the Egyptian Consulate in the country where the customer works and by the Egyptian Ministry of Foreign Affairs.
For people who works abroad in Arab countries
In all cases, other income sources can be acknowledged for all professions, such as:

Deposits, investment certificates, apartments lease contracts, in which case a copy of the lease contract and a copy of the apartment ownership contract can be submitted. In case of agricultural lands ownership, a copy of the land ownership contract and a copy of the agricultural possession card maybe submitted. In general, employees and liberal professions may submit attestations for any other incomes, acceptable by the financing quarter. In case of liberal professions, the following may be submitted:

- A copy of the tax card
- A copy of the last tax return
- A copy of the syndicate membership card
- Ownership or lease contract of the activity premises
- Ownership or lease contract of the unit, with a "date certaine" issued by the Notarization Administration.
- Agricultural land possession card
- Pension items statement
- Recent electricity bill for the activity premises
- The company's contract or an extract of the companies gazette
- A bank account statement
- A certificate issued by the Bank of the loan amount and the value of paid up installment
- Recent copy of the commercial register, issued for six months as a maximum, provided that the date of practicing activity should not be less than three years.
- An attestation of the absence of any bankruptcy lawsuits or verdicts and the absence of any protests to the (activity address - card address) since the date of starting activity up to the present date.
- Income certificate issued by a chartered accountant, addressed to the (Egyptian Arab Land Bank), comprising:
Type of activity
Date of starting activity
Particulars of the company's financial position
Bearing the date, written on --/--/200
In addition to the chartered accountant's documents, represented in:
- Copy of the membership card in the "Commercial Professions Syndicate"
- A recent certificate of registration in the general register of the Ministry of Finance
- A recent profession practice certificate issued by the "Commercial Professions Syndicate"
- A recent certificate attesting the absence of any disciplinary actions
- The original verification of any income that can be attested and accepted by the bank
- It is acceptable to submit documents for more than one income


- Copy of the unit title deed or that of the land on which it is constructed (a registered and notarized copy)
- Copy of the building licenses
- Real estate disposal certificate (Form 19) issued by the notarization office to which the property is affiliated, as from the registration date of the land or unit -
Preliminary sale contract concluded between the owner and buyer
- Allocation letter and taking delivery minutes issued by the new cities agencies
- Approval of the city agency to the mortgage and sale of the buildings, not including the land, in case of purchase
- Approval of the city agency to the buildings mortgage, excluding the land, in case of building and finishing works
- The project division decision , ratified by the new cities agencies
- Financial and real estate position of the land issued by the new cities agencies
- Engineering drawings ratified by the new cities agencies
- The project general planning, ratified by the new cities agencies
- A ratified "cost estimation" issued by the consulting engineer or the contractor, attached to which is a time schedule of works in case of finishing works and building
For the engineer or the contractor, with a copy of the commercial register:
- Submitting cheques in the number of the financing installments, numbering (--) cheques
- A down-payment settled before signing the contract
- In case of accepting to finance by a credit, a real estate application shall be submitted in favour of the bank.
- The maintenance deposit shall be paid for each project independently - if any - before signing the contract or during the investigation period.
In case of contacting the customer to attend at the Bank premises to sign the contract and accomplish the finance procedures, he should attend within 48 hours, otherwise the finance application shall be abrogated and the penalty terms - signed and approved by the customer - shall be enforced.

The husband and wife income can be combined with providing proof of income and personal identification of each one

The husband and the father or the mother income can be combined in case that the wife doesn't work

It is possible to register the unit under the name of the couple in this case

The bank deal with pensioners in case that the maximum end of the period of repayment of the funding is when the customer reaches the age of sixty-fifth

Ratio of 85% represents the maximum funding but that the funding ratio could be 40% 50% 60% 70% etc. according to the customer
And his income and in some cases it can reach up to 85% of the unit value

Permanent renewal wallet, and always introduce new real estate units in different areas and a variety of specifications

The bank assign an certified person from the mortgage to carry out the assessment, and therefore the investor doesn't pay the costs of the report
Assessment is to determine the market price of the unit

The installment doesn't exceeds 40% of the monthly income

It's not allowed that the installment must not exceeds 40% of the monthly income

You can pay the entire remaining amount at one time with a reduced interest or combine installments for more than a month and pre-pay them at one time

The bank opens an account for each customer in the places determined by the funding parties

When you get the funding you will get life insurance against death or disability and the insurance company pays the full value of the remaining balance of the funding in case of death or partial disability and the beneficiary gets the real estate unit free of any installments and there will also be insurance against fire risks on the property

The insurance installment is added to the funding monthly installment during the funding period or is paid once at the contracting and this is decided by the funding party and the customer

There may be other expenses such as real estate maintenance expenses which is determined by the owners union
Or financing expenses which vary from one party to another These expenses is mentioned before the funding process and paid either by the project management or the funding party

Signing a funding agreement is not enough to make the unit registered, there are some procdures like providing the mortgage estate request to start the registration in favour of the investor and after that the unit becomes registered to the customer and the funding parties starts those proceedings on behalf of the customer

a power of attorney must be made to take procedures for registration of the unit in favor of the funding party

Irrevocable except in the presence of both parties


General official power of attorney
He decided that he has given power of attorney to
Mr./-----------------------
Domiciled at/-----------------

For the sale and purchase of unit number ( ) on the ---- floor, located at building----------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------, in addition to its share in the land and parts of joint use, sign preliminary and final sale contracts, legalize finance, loan and mortgage contracts, agency contracts in his favour and for third party, which are irrevocable and don't lapse upon the principal's death, but remains enforceable versus his general or private successors; represent me before the Notarization Administration, its offices, carry out notarization on our behalf, sign notarization applications at the competent commissions, amend and assign them, extend and renew them, submit papers, documents, the related applications, sign and assign them on my behalf as a buyer, seller or pawner, submit pleas, memorandums, official and executive contracts, sign declarations concerning the units' share in the parts of joint us, take delivery of papers, preliminary and official contracts, deal with banks regarding commercial papers, promissory notes and all debentures and bank declarations, applications for opening accounts, scheduling indebtednesses, withdraw and deposit cash amounts, cash cheques and receive them, withdraw commercial papers on our behalf, carry out all legal disposals by sale, purchase or mortgage, whether to self or third party for the said unit and its share in the land and parts in joint use, receive the said unit, conclude contracts with the electricity and water companies for installing meters.
To this end, he is entitled to sign on our behalf all or some of the foregoing, deal with all governmental, nongovernmental, administrative or judicial quarters concerning the said real estate & have all related documents and papers extracted from all governmental administrations and organizations.
The proxy is entitled to sell, purchase and mortgage to self or third party, file lawsuits for signature or contracts soundness and enforceability, submit rebuttals and defences, declare for reconciliation and for the contracts soundness and enforceability, have the rendered rulings registered and obtain the necessary approvals and documents for accomplishing the legal disposals for ownership transfer and restriction, whether by sale, purchase or mortgage in his favour or for third party, represent us before the Tax Administration and courts of whatever instance.
The proxy is entitled to give power of attorney to third party in all or some of the foregoing. This power of attorney is drawn up in witness whereof, and after reading it, it was signed by the principal.
It is irrevocable unless in the two parties' presence
The Principal ------------------- The Notary --------------------
The customer shall not receive this power of attorney, unless after being reviewed by the Legal Affairs Department at the (Real Estate Finance Sector).


The investor may be asked to draw up promissory notes or bills of exchange as collateral only and not as a source for increasing his income, according to which the following is calculated:

- The finance monthly installment, of not more than 40% of the monthly income and 85% of the finance value in case of foreigners.
- A deposit may be created within a minimum of 25% of the unit value in US Dollars
- A work contract or any income attestation may be submitted in English
- Finance with a maximum of five years
- There should be an Egyptian Guarantor