“Theqa” …A Flagship Solution by
Madinet Masr to Eliminate Maintenance Deposit Challenges in the Real Estate Sector
Stemming from its 65-year legacy and expertise
in the Egyptian real estate sector, with its proven innovation leadership that
aims to create cutting-edge solutions to the major challenges facing the sector
and customers, Madinet Masr unveiled "Theqa" through its innovation
arm, "Madinet Masr Innovation Labs". "Theqa" is considered
the first-of-its-kind property warranty to replace the maintenance deposit by
covering all maintenance of public areas and basic services in residential
compounds, which guarantees high-quality maintenance across Madinet Masr
projects to achieve added value to the project, thus increasing the unit’s
value in the future.
"Theqa" is an innovative concept that
is set to revolutionize the real estate market by addressing the concerns of
customers. With "Theqa", Madinet Masr redefines mutual trust between
the developer and the customer as it provides a “property warranty certificate”
instead of the regular “maintenance deposit”, without requesting any additional
increases or differences in maintenance for 13 to 20 years.
This unprecedented
solution provides a clear and more suitable experience for property owners,
which aligns with the company’s strategy to drive growth in Egypt by developing
sustainable communities, as well as creating innovative solutions to the
pressing challenges in the real estate realm.
Commenting
on this milestone, Eng. Abdallah Sallam, President and CEO of Madinet Masr,
stated: “At Madinet Masr, we believe in the power of innovation in overcoming
the key challenges facing the sector. We don't only strive to create solutions
that meet the aspirations of our customers, but we also tailor new flagship
concepts that add value to the overall Egyptian real estate sector. Our
customers’ confidence in the Madinet Masr name is driven by our proven
expertise and 65-year legacy of providing the best real estate solutions and
services, which prompts us to always take the lead in creating solutions to all
the challenges facing the real estate sector and promoting real estate
investment.”
He added: "Our
ambitious expansion plan's key objective is to fulfill the diverse needs of
customers. As such, we dedicate our efforts through our innovation arm,
'Madinet Masr Innovation Labs' to come up with the latest solutions. We are
proud to introduce the third concept after the proven success of 'SAFE' and 'Touba,'
which is 'Theqa,' that aims to eliminate the challenges associated with the
maintenance deposit. This milestone represents a key turning point in strengthening
mutual trust between the developer and the customer, achieving added value, and
removing the financial burden of the incremental differences in maintenance
deposit."
"Theqa" from Madinet Masr is set to revolutionize
the Egyptian real estate market as it provides long-term clarity on customer
expectations, thus promoting real estate investment, enhancing customer
confidence in real estate developers, and creating a more transparent
environment in the market.
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