Ayman Abdel Hamid, Managing Director and Vice Chairperson of Al Taamir Mortgage Finance – Al Oula, announced that the company delivered strong financial performance during the first quarter of 2026, achieving EGP 1.35 billion in financing and net profits of EGP 135 million
He explained that business activity was mainly concentrated during January and March, while individual clients represented between 35% and 40% of the company’s total financing portfolio
Abdel Hamid stated that the company is targeting EGP 5 billion in total financing by the end of 2026, alongside projected profits of approximately EGP 470 million. He noted that these targets could be revised during the second quarter depending on economic conditions and market developments
He added that shareholders’ equity exceeded EGP 2 billion, while paid-in capital reached EGP 1.504 billion following a 105% capital increase completed in March 2025. He confirmed that the company currently has no plans for an additional capital increase
According to Abdel Hamid, customer receivables reached EGP 12.5 billion, while the company has served more than 41,000 clients since its establishment, reflecting its growing position in Egypt’s mortgage finance sector
Commenting on monetary policy, he said the company had expected interest rates to decline by 6% to 8%, but recent economic developments resulted in rates remaining unchanged. While stable rates helped contain inflation, they also created additional pressure on mortgage finance companies
He further revealed that the company currently holds EGP 3.25 billion in existing credit facilities, while two banks are evaluating additional financing worth nearly EGP 2 billion to support the company’s future expansion plans
On sustainability and green finance, Abdel Hamid confirmed that Al Oula already offers a certified green financing product that has been utilized in several projects. The company is also seeking dedicated funding programs to further expand its green finance portfolio
Regarding portfolio quality, he noted that the company’s default rate stands at only 0.3%, adding that distressed cases are handled through repayment extensions and grace periods in compliance with market regulations
He also disclosed that the company is studying a securitization transaction during the current year to strengthen its financial structure and enhance liquidity
Abdel Hamid pointed out that Egypt’s real estate prices have increased by between 100% and 150% over the past three years, while consumers’ income levels did not rise at the same pace, leading to stronger demand for mortgage financing solutions
He added that the company works closely with real estate developers by purchasing customer debts and completing financing for residential units, in addition to participating in financing across several real estate projects
The company currently operates six branches in strategic locations and cooperates with 12 banks in credit facilities, while continuing to expand its client base across Egypt, particularly in Upper Egypt cities including New Minya, Aswan, and Assiut
Abdel Hamid concluded by emphasizing that mortgage finance remains one of the most important tools enabling Egyptians to achieve homeownership amid rapid changes in the real estate market