Egypt's Nawy Now sells EGP 633m mortgage portfolio to fund in second issuance
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Nawy Now, the mortgage arm of Egyptian real estate platform Nawy, has offloaded EGP 633 million of mortgages to an investment fund in its second issuance, freeing up balance-sheet capacity.
Nawy Now, the mortgage financing arm of Egyptian real estate platform Nawy, has offloaded another EGP 633 million of mortgages to an investment fund, freeing up balance-sheet capacity for new lending. The sale is the company's second such issuance after a EGP 443 million first issuance that closed early and was oversubscribed in October 2025.
The first issuance has distributed about EGP 118 million to certificate holders across three payment cycles with no missed payments, according to the fund and Nawy Now, returning 6.63 per cent in the first quarter of 2026 and 6.25 per cent in the second, a cumulative 12.9 per cent in the first half, based on Financial Regulatory Authority data cited in a statement. The Mortgage and Financial Investments Company (MFIC) acted as asset manager, with Synergy Capital as financial advisor, promoter and placement lead.
Under the arrangement, Nawy Now writes mortgages with tenors of up to seven years, warehouses them on bank facilities, and sells batches of seasoned loans to the fund at net present value. Company officials said the structure includes protections for investors, including a reserve account and a default insurance policy, and that Nawy Now has no recourse to the fund.
The sale comes as Egypt's non-bank mortgage market accelerates: non-bank mortgage companies extended EGP 19.96 billion in financing over the first five months of 2026, up 20.4 per cent year on year, while refinancing volumes rose 167.3 per cent to EGP 2.43 billion over the same period, according to the FRA's monthly report. Nawy's parent company has raised about USD 52 million in equity since 2019 from investors including Partech, e& Capital, Shorooq Partners and Endeavor Catalyst.