DarHub, a specialist in finishing, decoration and contracting sector, has contracted with valU, financial services provider and affiliated to EFG Hermes, to finance customers wishing to finish their semi-finishing residential units, Invest-Gate reports

Malek Azzam, founder and CEO of DarHub, said in press statement on July 20 that the contract mainly aims to finance owners of half-finished properties who are wishing to fully finish their units with a value up to EGP 2.5 mn per unit with payment plan on five years.

Azzam noted DarHub aims to conduct deals with contractors and customers worth EGP 10 mn by year-end through the “Application” launched by the company this year.

He explained that his company sets standards in selecting the finishing companies based on the region and quality of business, along with a number of requirements set for seriousness and commitment.

The company started its operations in Greater Cairo and plans to expand in other governorates, as well as, the number of companies that his company works with reached 2,000 contracting companies to cover the currently targeted locations.

Additionally, he elaborated that the company’s new application aims to provide finishing services and contracting for semi-finished residential units, while providing owners with best offers of contracting and finishing services provided by companies.

The company plans to expand in new cities through finishing units in new compounds and provinces, he disclosed.

Azzam said that there are 12 mn housing units not finished in the market distributed across different provinces and new cities, with Greater Cairo having about 1 mn half-finished units annually, which requires the provision of new mechanisms to contribute to the development of new solutions and services commensurated with financial solvency of units’ owners.