Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, unveiled its recent innovative concept, Touba, a transformative solution set to redefine and facilitate the purchasing and investing processes in the real estate industry.

Touba introduces a flexible payment plan spanning up to a decade, tailored to cater to various customer segments. The concept will be implemented for the first time in the Elan at Sarai project in New Cairo. Aligning with the current era of digital transformation, Touba is the first digital platform that establishes a direct partnership between Madinet Masr and its customers.

Furthermore, Touba, Madinet Masr Innovation Labs’ latest innovation, is considered the first-of-its-kind platform in the region that offers flexible payment terms to customers who are willing to own a unit that suits their needs with no required bank cheques.

Touba, an Arabic term for brick, introduces a revolutionary measurement unit that redefines property ownership. Each property consists of a specific number of Toubas, the measuring unit of real estate ownership.

As a user-friendly application, the Touba platform allows customers to conveniently pay for the property and track the number of bricks they own without the need to physically visit the company’s premises.

Touba allows customers to select the space of the unit and pay 15% of the total amount of Toubas of the property as a down payment and 8.5% of the remaining amount annually for up to 10 years through a convenient payment plan based on the customer’s financial status, without fixed installments or bank cheques.

Through the digital platform, the customer can check the percentage of ownership and the current price of Touba according to market fluctuations. Touba also allows the customer to upgrade his/her unit easily through the platform and pay the cost difference between both units and the remaining number of Toubas will be adjusted accordingly. The unit would be scheduled for delivery in four years.

Commenting on the launch of Touba, Eng. Abdallah Sallam, President and CEO of Madinet Masr, said, “Our mission is to foster growth in Egypt through the development of sustainable

communities. The concept of growth extends beyond mere economic and financial growth to encompass the growth of investments, markets, and the products that the company is providing.”

Sallam adds that “Touba has been 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 to the real estate market, addressing customers’ needs and overcoming the obstacles of investment and real estate.

Stemming from its expansion strategy, the company is directing its efforts towards nurturing a new generation of young people 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 which is witnessing great growth.