Housing and Development Properties (HDP), the real estate arm of Housing and Development Bank, has signed a cooperation agreement with EPower for Electricity and Energy, Egypt’s licensed electricity distribution and retail company, to manage, operate, and maintain electricity and water networks across a number of HDP’s developments. The agreement was signed by Eng. Amgad Hassanein, Vice Chairman of Housing and Development Properties (HDP), and Eng. Ahmed Nada, CEO and Managing Director of EPower, Invest-Gate reports.
The partnership underscores HDP’s commitment to delivering integrated residential experiences supported by reliable and efficient utilities infrastructure, in line with its strategy to develop sustainable, fully serviced communities that enhance residents’ quality of life and align with Egypt Vision 2030.
Under the agreement, EPower will assume responsibility for the management, operation, and maintenance of medium- and low-voltage electricity distribution networks, in addition to supplying electricity and water through direct contractual relationships with customers. The scope of work also includes installing and supervising advanced electricity and water metering systems, issuing and collecting monthly consumption bills in accordance with the tariffs approved by the Egyptian Electric Utility and Consumer Protection Regulatory Agency and the Water and Wastewater Regulatory Agency. EPower will further oversee periodic maintenance, spare parts provision, and all operational phases in compliance with the highest quality and safety standards, ensuring uninterrupted service and operational efficiency.
Commenting on the partnership, Eng. Amgad Hassanein, Vice Chairman of Housing and Development Properties (HDP), said: “Our vision at Housing and Development Properties (HDP) is built on collaborating with specialized companies in various fields, and this cooperation with EPower ensures the efficiency and sustainability of services provided to our clients. We believe that the success of real estate projects goes beyond delivering distinctive units to creating integrated environments that enhance residents’ well-being. Our strategy therefore focuses on developing comprehensive communities that bring together housing, essential services, and infrastructure within one cohesive framework.”
For his part, Eng. Ahmed Nada, CEO and Managing Director of EPower, stated: “EPower is committed to building trust with its clients by continuously improving service quality, which we are proud to provide today to more than 45 developers and nearly 35,000 customers. We highly value this agreement and appreciate the cooperation with Housing and Development Properties (HDP), led by Eng. Amgad Hassanein, whose distinguished track record in Egypt’s real estate sector is widely recognized. The recent developments achieved by HDP position it as a leading real estate developer, and EPower will continue working to elevate service standards and achieve the highest levels of customer satisfaction.”
The agreement covers seven of HDP’s prominent projects, including Club Hills, Westview, and Terrace in West Cairo; Tadla, Square One Exclusive Residences, and The Gray in East Cairo; as well as The Island project in Marina 5 on the North Coast. Through this collaboration, EPower will also supervise the implementation of electrical networks and provide streamlined after-sales services and technical support, ensuring consistent service quality, operational efficiency, and an enhanced customer experience across HDP’s portfolio.