Sudan’s Central Bank announced it was lifting a five-year ban on banks property loans to individuals and companies. The decision will enable grant mortgages to eligible beneficiaries, without third party real estate agents or brokers. Subsequently, Sudan’s Real Estate Commercial Bank, alongside other local commercial banks, started offering individuals housing plans. In order to become eligible for a property loan, applicants need to accept the fund at a 20% interest rate, and provide a 15%-20% down payment of total costs in advance. No ceiling on offered loans was specified. The conditions for obtaining mortgages from banks, with a repayment period up to seven years, include a search certificate for the property. The applicant must attach an official blueprint for the land plot--a building permit from the local authorities and the concerned parties is required if the property is yet to be built. In the case of erecting a new construction unit or rehabilitating a preexisting one, applicants must also provide a quota on quantities of construction materials to be used in the project. A feasibility study of the housing project, whether commercial, investment or housing must also be attached. Any applicant must also have an arrangement with a state-approved contractor that will provide building materials and other supplies. The applicant is required to pay an advance payment of 15 to 25% of the loan amount and will also bear the engineering supervision fee of 3% of total financing costs. In accordance with the decision of the Central Bank of Sudan, the mortgage will be cleared for both companies and entitled individuals. Sanahuri Saghirun, former director at Sudan’s Ministry of Urban Planning, said that unblocking real estate loans will revive the construction and housing market in the African country. Saghirun added that companies, before, had resorted to backdoor solutions to circumvent the decision to halt all real estate loans, which raised the cost of construction and made housing units more expensive.