Touba : Madinet Masr’s Innovative Platform for Flexible Real Estate Ownership and Investment

 Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, unveiled its latest innovative concept, Touba, a transformative solution set to redefine and facilitate the process of owning and investing in real estate. 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 Elan at Sarai, New Cairo. Aligning with the current era of digital transformation, Touba is the first digital platform that establishes owning a property through a digital application.

Touba, Madinet Masr Innovation Labs latest innovations is considered the first of its kind platform in the region that provides flexible payment terms to customers willing to own a unit according to their needs with no required bank cheques. “Touba,” an Arabic term for a “brick,” introduces a revolutionary measurement unit that redefines property ownership. Each property consists of a specific number of Touba(s), the measuring unit of real estate ownership.

Through a user-friendly application, 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 unit and pay 15% of the property as a down payment then continue to pay the remaining amount of Touba(s) annually 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 the market fluctuations. Touba also allows the customer to upgrade his unit easily through the platform and pay the cost difference between both units and the remaining number of Touba(s) will be adjusted accordingly. The unit is 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 drive growth in Egypt through the development of sustainable communities. Touba is 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 who are 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 that is witnessing remarkable growth.