Cairo-based Qasatli Mortgage Finance has unveiled an ambitious long-term growth strategy, outlining plans for a potential initial public offering (IPO) on the Egyptian Exchange (EGX) in 2027 and a significant funding round this year.
The Dual Strategy: Near-Term Funding and Long-Term IPO
According to Managing Director Ihab Omar, the company is targeting a raise of approximately 1 billion Egyptian pounds (~USD 20M) in 2024 to expand its financing portfolio within the local market. This near-term capital injection is a crucial step in its broader strategic vision.
In parallel, Qasatli has begun preparations for a potential EGX listing in 2027. Omar stated that the firm is developing its IPO plan and is currently in the process of assessing three advisory firms to select a lead manager. The initial target for the offering is the sale of up to 50% of the company’s shares.
Tapping Non-Traditional Capital
Qasatli’s strategy through 2026 is centered on utilizing “non-traditional” funding solutions to fuel its growth. The company aims to expand beyond conventional bank channels by actively engaging with both local and international real estate investment funds to facilitate direct investments in Egypt.
This approach supports the company’s goal of achieving a business volume of 3 billion pounds by the end of 2026. The firm plans to deepen its footprint across the country and significantly grow its client base, which currently stands at around 330 customers since it began operations in 2018.
Seizing the Mortgage Market Opportunity
The move comes as the mortgage finance sector in Egypt remains a relatively underdeveloped segment of the nation’s financial system. Industry penetration is often cited as low compared to peer markets, presenting a substantial opportunity for growth.
Fintechs and non-bank financiers like Qasatli are working to address this gap by introducing broader product offerings and leveraging alternative funding structures to make home financing more accessible.
About Qasatli Mortgage Finance
Founded in 2018, Qasatli is a Cairo-based financial services company specializing in mortgage finance. The company is licensed by Egypt’s Financial Regulatory Authority (FRA) and focuses on providing financing solutions to bridge the gap in the local real estate market.
Source: Waya
