Egyptian developer Madinet Masr launches its new R&D arm

Egyptian developer Madinet Masr launches its new R&D arm

Madinet Masr, one of Egypt’s leading urban community developers, unveiled on Monday ‘Madinet Masr Innovation Labs,’ which is dedicated to providing cutting-edge digital solutions and products tailored to the Egyptian real estate market.

Simultaneously, Madinet Masr Innovation Labs introduced ‘Touba,’ a platform for purchasing and investing in real estate, according to a press statement from the developer.

The platform enables buying, owning, and investing in real estate without bank cheques utilising a customisable payment plan, by breaking down the property into a simple measuring units called ‘Touba,’ the Arabic term for a brick.

The statement said Touba offers various payment plans up to 10 years while eliminating time restrictions associated with the traditional methods for buying property, adding that the concept will debut at Elan, located at Sarai New Cairo.

The launch of Madinet Masr Innovation Labs builds upon the success of ‘SAFE’, Egypt’s first and largest fractional property ownership platform, which now falls under the umbrella of Madinet Masr Innovation Labs.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

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