Cornerstone Development Calls for Youth Mortgage Initiative at 6–7% Interest, Unveils Expansion Plans
Cornerstone Development has called for the launch of a dedicated mortgage financing initiative targeting young professionals, offering interest rates between 6% and 7% with long-term repayment plans.
Ashraf Boulos, Chairman and Managing Director of Cornerstone Development, said that the Egyptian real estate sector continues to focus on a narrow client base—primarily high-income individuals and business owners aged 50 to 60—representing only about 1% of the market.
He stressed the need to expand access to homeownership for younger generations, particularly those aged between 30 and 40, who have stable incomes but lack financing mechanisms tailored to their needs.
> “This initiative would enable young Egyptians to own affordable units, even one or two-bedroom apartments, while broadening the customer base for the real estate sector and strengthening Egypt’s position as a major investment destination,” Boulos said.
According to Boulos, the current housing supply in Egypt stands at fewer than 200,000 units, far short of the real demand. Introducing youth-focused mortgage solutions would help stimulate the market, drive growth in related industries, and create new job opportunities. He added that Egypt’s urbanized land has doubled over the past decade—from 7% to 14%—creating fertile ground for new investment.
Cornerstone’s Expansion Plans
In parallel, Cornerstone Development is pursuing strategic growth opportunities across Egypt. The company is exploring land acquisition in the North Coast (100 acres) and West Cairo (6th of October City) for a mixed-use residential, commercial, and hospitality project.
Construction is also underway at its flagship project, RED – Water Villas & Floating Gardens in Mostakbal City, Cairo. The project spans 60 acres with 750 units, where only 17% of the land is built up, leaving the rest for green areas, water features, and open spaces. Cornerstone has invested EGP 100 million in 2025 construction and plans to inject around EGP 1 billion in 2026. The development is expected to generate EGP 15 billion in sales upon completion.
Meanwhile, the company is advancing its The Curve project in the New Administrative Capital. Covering 13 acres and comprising around 550 residential units, The Curve is among the first developments launched in the R8 district, strategically located near the Green River, Mohamed Bin Zayed Axis, and the presidential district. Delivery is scheduled for 2026.
Boulos emphasized that Cornerstone’s projects focus on sustainable design, innovative layouts, and premium finishing standards to provide residents with healthier, greener, and more enjoyable living environments, while also ensuring high investment returns.