Madaar, a prominent real estate developer in Egypt, has announced a 10-year partnership with VIP Coating Solutions in Egypt, appointing it as the exclusive agent for the latter in the country, Invest-Gate reports.
The agreement aims to significantly expand Madaar’s portfolio and market reach by offering VIP Coating Solutions’ products to other real estate companies while enhancing its ability to serve customers. Both companies have set a target of achieving sales worth EUR 15 mn within the first five years of the agreement.
Madaar Development is a comprehensive, privately held commercial and residential real estate investment and development company known for its efficient project completion, encompassing site selection, acquisition, financing, construction, property management, and maintenance.
VIP Coating Solutions is a globally recognized leader in high-performance surface protection systems, offering top-tier solutions that include substrate repair and preparation products, priming and pre-treatment systems, high-performance coatings, and superior aesthetic finishes.
This partnership aligns with Madaar’s recent efforts to establish a series of collaborations, including a prior agreement with Crystal Lagoons, the global leader in artificial lagoon technology. VIP Coating Solutions is the only certified coating solutions company authorized by Crystal Lagoons.
Madaar CEO Ahmed Ehab expressed the transformative nature of this agreement, aiming to strengthen their presence in the Egyptian market and align with their long-term business plan, emphasizing their commitment to excellence.
Ehab stated, “We carefully select our partners to create value for our stakeholders. As the sole agent of VIP in Egypt, we can offer unique and innovative solutions across our projects and beyond. We anticipate achieving great success together and maximizing our combined potential.”
Alexander Voelkel, Managing Director of VIP Coatings Construction Chemicals LLC, expressed pride in the long-term partnership with Madaar, highlighting the company’s leadership in real estate development and its commitment to delivering the highest quality in every aspect of their projects.
Voelkel also emphasized VIP’s significant presence in over 65 countries and its successful involvement in various industries such as mining, oil and gas, water and wastewater, and power.
