Madinet Masr, Egypt’s urban community developer, has launched Madinet Masr Innovation Labs to provide digital real estate solutions, Invest-Gate reports.

Madinet Masr Innovation Labs’ first product is the Touba platform, enabling customers to purchase properties in installments. Customers can buy “Touba”, an Arabic term for brick, as a measurement unit and track their ownership.

The platform allows flexible payment plans of up to 10 years without cheques. It debuts at Elan New Cairo.

CEO Abdallah Sallam said a team of young talents will introduce creative concepts to meet evolving customer demands and propel the local market. Madinet Masr Innovation Labs builds on the success of SAFE, Egypt’s first fractional property ownership platform.

Madinet Masr has a landbank exceeding nine mn sqm and strategies to optimize resource use and achieve sustainability.