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The partnership further diversifies valU’s service offering, affording Club S potential members with the opportunity to meet their lifestyle needs.
Cairo, 28 July 2021
valU, Egypt’s leading Buy-Now Pay-Later (BNPL) fintech platform, and Club S, SODIC’s premiere sporting club, announced today the launch of a new partnership that will see valU offer convenient financing plans for potential Club S members at the SODIC East, SODIC West, and Allegria branches of the club. Through the partnership, Club S potential members will be able to pay for new memberships, renewals and facilities at the Club in installments over 6-60 months with no down payment.
Walid Hassouna the EFG Hermes Non-Bank Financial Institutions (NBFI) platform CEO, said: “We are very pleased to be partnering with SODIC’s Club S as we continue to expand the scope of our services and our partner network to make our clients’ desired lifestyles a reality through swift and reliable financing. We’ve worked hard to partner with key players in the industries we’ve entered — be that education, healthcare, or otherwise — and our agreement with SODIC comes at a key juncture in the real estate industry where value-added services such as recreational and business amenities and activities are becoming vital to the community experience.”
Club S offers Egypt's widest range of sporting, wellness and leisure activities, becoming an integral part of the SODIC communities in which it serves. In 2019, the club had a soft opening of the upscale sports and leisure facility looking to meet the needs of over 24,000 residents of SODIC’s anchor projects. The club is outfitted with numerous services such as Egypt’s first functional fitness facility, multi-purpose gyms, sports training academies, dining, and today operates clubs in SODIC East, SODIC West, and Allegria.
Ibrahim Zaher, SODIC’s Hotels and Clubs CEO said: “With real estate developers looking to both diversify their revenue streams and enhance their service offerings, community, sports and social clubs have become an integral part of the proposition and living experience. Demand for financing these memberships is on the rise. Through this partnership with valU we bring an invaluable service to our members as we work to drive value for our customers. Club S offers a one-of-a-kind upscale club experience that aims to promote a healthy lifestyle for residents in all SODIC’s developments”
In 2021, valU made great strides to expand its offering, signing a number of key partnerships in numerous industries, including the American University in Cairo School of Business, Saudi German Hospital in Egypt, and AZADEA Group.
—Ends—
About valU
A subsidiary of EFG Hermes established in 2017, valU is the leading Buy-Now Pay-Later (BNPL) fintech platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 200 websites, valU offers access to a wide network of retail and e-commerce providers across a diverse array of categories including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. As the first platform of its kind in the MENA region, valU customers are able to receive instant credit decisions through their devices and gain access to the ever-growing platform’s partners.
For further information, please contact:
EFG Hermes Media
media@efg-hermes.com
May El Gammal
Group Head of Marketing & Communications at EFG Hermes
melgammal@efg-hermes.com
About SODIC
Building on a history of 25 years of successful operations in Egypt, SODIC is one of the country’s leading real estate development companies, bringing to the market award-winning large-scale developments to meet Egypt’s ever-growing need for high quality housing, commercial and retail spaces. Headquartered in Cairo and listed on the Egyptian stock exchange (EGX) under OCDI.CA.
For further information, please contact:
Engy Emad
Senior Media Relations Manager
TRACCS Egypt
Mobile: 010 0900 2207
Email: engy.emad@traccs.net
Note on Forward-Looking Statements
In this press release, EFG Hermes and its subsidiaries may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only the Group’s’ belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management’s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.