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.