Egypt Today reported last week that Madinet Masr, a leading Egyptian urban community developer, has unveiled its groundbreaking proptech concept called Touba. This innovative solution aims to revolutionise and simplify the process of owning and investing in real estate, particularly in urban property development.
FLEXIBLE PAYMENT PLANS FOR PROPERTY OWNERSHIP
Touba, unveiled in Elan at Sarai, New Cairo, marks a significant shift in urban property development. It introduces a flexible payment plan that spans up to ten years, providing a tailored approach to property ownership. So this removes the need for physical visits or traditional bank cheques. This novel concept aligns with the digital transformation occuring in the real estate industry.
INTRODUCING THE "TOUBA" MEASUREMENT UNIT
"Touba," which means "brick" in Arabic, introduces a new measurement unit for property ownership. Each property's ownership gets defined by a specific number of Touba(s). This unique approach redefines how people perceive and buy real estate.
EASY AND CONVENIENT PROPERTY OWNERSHIP
The Touba platform is a convenient application that allows customers to buy a property and keep track of the number of Touba(s) they own. With everything done online, there's also no need to visit the company's premises.
Customers can start their property ownership journey with a 15% down payment for a chosen unit. Then they proceed to make annual payments for the remaining number of Touba(s) over a span of up to ten years. These payment plans are adaptable to the customer's financial situation, removing fixed installments and bank cheques.
DIGITAL EMPOWERMENT AND OWNERSHIP TRANSPARENCY
Touba also provides transparency and flexibility. Customers can check the percentage of ownership and the current price of Touba according to market fluctuations.
Upgrading a unit is also hassle-free through the platform. Simply put, customers can pay the cost difference between units, and the remaining number of Touba(s) are then adjusted. The property units are scheduled for delivery within four years.
A VISION FOR GROWTH AND INNOVATION
Eng. Abdallah Sallam, President and CEO of Madinet Masr, expressed the company's mission to foster Egypt's growth through sustainable community development. Sallam explained that Touba aims to revolutionise Egypt's real estate sector by offering innovative payment plans that cater to diverse customer needs. The platform encourages property investments and purchases while removing the challenges of rigid deadlines and bank cheques.
MADINET MASR'S FORWARD-THINKING APPROACH
Madinet Masr's vision extends beyond innovation in real estate. Their strategy involves nurturing a new generation that can apply sustainability standards throughout the company. Also, the company is committed to delivering advanced solutions that redefine the purchasing and investment experience in Egypt's thriving real estate market. So via initiatives like Touba, Madinet Masr is contributing to growth in Egypt's real estate market.