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-The partnership is part of a series of agreements valU is rolling out with key real estate companies
-Installment plans cover a maximum value of EGP 2.4 million
Cairo, June 27, 2022
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, partners for the first time with Arab Developers Holding, a leading real estate developer in Egypt, to offer residents of its various developments installment solutions that cover home improvement and maintenance fees starting from the 1st of July 2022.
The partnership was announced today at a ceremony attended by Walid Hassouna, CEO of valU and Ayman Khalifa, CEO of Arab Developers Holding.
Arab Developers Holding’s customers can now move into and maintain their homes sooner than they expected as they no longer have to put up all financing required for their home finishing upfront. By making maintenance fees easy to pay through valU’s flexible installment solutions, homeowners may look forward to increased value of their assets in compounds that are well maintained and enjoy higher occupancy levels.
This collaboration comes as part of a series of agreements between valU and leading real estate players in Egypt to offer community residents a diverse array of flexible installment solutions for home improvement and maintenance fees.
With a maximum financing amount per person of EGP 2.4 million and an onboarding process completed in just a few minutes, valU offers Arab Developers Holding’s customer base the most convenient digital financing experience in the market. There are no down payments or purchase fees required and tenors range from six and up to 60 months. valU will also assign agents inside the developer’s sales offices to facilitate the activation process for customers on site.
“We are happy to be moving forward with our strategy to extend our BNPL services to homeowners across Egypt, and our partnership with Arab Developers Holding, a key player in Egypt’s real estate sector, makes us incredibly proud. Our goal is to identify gaps in the market, diversify our portfolio of services to all Egyptians across all income brackets, and find innovative solutions to empower our customers to achieve their desired lifestyles through our innovative and comprehensive fintech platform,” said Walid Hassouna, CEO of valU.
Ayman Khalifa, CEO of Arab Developers Holding also commented on the collaboration saying, “We are bringing our communities to life faster by providing our customers with access to convenient financing solutions while securing the value of their assets. We are very excited to be partnering with valU, MENA’s leading BNPL service provider, as this collaboration will not only aid us in broadening our footprint and customer-base, but will also cater to our customers’ lifestyle aspirations. At Arab Developers Holding, we continuously strive to bring the most innovative solutions to the table, and we strongly believe that this partnership will carve the path for more successes in the ever-growing Egyptian real estate space.”
This partnership builds on the foundations laid over the past few years by the BNPL player, having made great strides to expand its product and service offerings. Recently, valU has signed several key partnerships across various industries with players such as Egypt Air, Misr Insurance, Majid Al Futtaim Group, OPPO, the American University in Cairo, Saudi German Hospital in Egypt, and SODIC’s Club S, Noon, and Waffarha, among others.
A subsidiary of EFG Hermes Holding established in 2017, valU is the leading Buy-Now, Pay-Later (BNPL) lifestyle enabling fintech platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 330 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 can receive instant credit decisions through their devices and gain access to the ever-growing platform’s partners.
For further information, please contact:
The EFG Hermes Holding Public Relations Team
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
Note on Forward-Looking Statements
In this press release, EFG Hermes Holding 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 EFG Hermes Holding’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.
About Arab Developers Holding
With a fast-growing track record of fully integrated destinations, Arab Developers Holding has become one of the region's leading real estate development companies. For 16 years, Arab Developers Holding has played an essential role in reshaping the real estate landscape in unexpected ways by introducing a collection of upscale properties catering to high-end buyers with cutting-edge features that enhance buyers living experience and day-to-day lives.
Arab Developers Holding's diverse portfolio of projects provides innovative lifestyle solutions and high-end services to offer unmatched real estate investment options in booming markets worldwide from mansions, villas, malls, Golf courses, hotels, serviced apartments, and much more for modern living.