Madinet Masr, one of Egypt’s leading urban community developers, has unveiled its latest innovative concept, Touba, a transformative solution that redefines and facilitates the process of owning and investing in real estate. Touba introduces a flexible payment plan that spans up to 10 years and is tailored to cater to various customer segments. The concept will be implemented for the first time in Elan at Sarai, New Cairo. In line with the current era of digital transformation, Touba is the first digital platform that enables customers to own a property through a simple and convenient application.
Touba, which means “brick” in Arabic, is a revolutionary measurement unit that redefines property ownership. Each property consists of a specific number of Touba(s), which represent the percentage of ownership. Customers can select the unit and pay 15% of the property as a down payment, then continue to pay the remaining amount of Touba(s) annually for up to 10 years through a convenient payment plan based on their financial status, without fixed installments or bank cheques.
Through a user-friendly application, the Touba platform allows customers to easily pay for the property and track the number of bricks they own without the need to physically visit the company’s premises. The platform also allows customers to check the current price of Touba according to market fluctuations and upgrade their units easily by paying the cost difference between both units. The unit is scheduled for delivery in four years.
Abdallah Sallam, President and CEO of Madinet Masr, commented on the launch of Touba, saying: “Our mission is to drive growth in Egypt through the development of sustainable communities. Touba was launched to revolutionize the real estate sector in Egypt and introduce innovative flexible payment plans that accommodate the various needs of our customers based on their capabilities without the burden of fixed date commitments and bank cheques. Meanwhile, we aim to contribute to the growth of the sector through creating innovative solutions that encourage property investments and purchasing.”
Madinet Masr aims to innovate and create diversified solutions for the real estate market, addressing customers’ needs and overcoming the obstacles of investment and real estate. As part of its expansion strategy, the company is directing its efforts towards nurturing a new generation of young people who are capable of applying sustainability standards across all sectors of the company and its products as an investment in the future. Simultaneously, it is encouraging the provision of innovative solutions and advanced ideas, to revolutionize the concept of purchasing and investing in the Egyptian real estate market that is witnessing remarkable growth.
