Egypt. Real estate Italy is signing a cooperation agreement with Valeo to facilitate the movement of its customers to the BOSCO project in the new administrative capital.
Egypt Real Estate Italy, the leading real estate developer, signed an agreement with Valeo, the leading platform for buying now and paying later. (BNPL) in the Middle East and North Africa region, under which Valeo would provide financing programmes to customers of real Estate Italy Egypt to cover house cleaning and renovation services, at a ceremony held today in the presence of Mohamed Khalid Al-Assal, CEO and member of Egypt Italy Real Estate, Walid Hassouna, CEO of the non-banking finance sector of the Hermes Group.
Valeo will provide a bouquet of financing solutions to Egypt Real Estate Italia's customers to renovate their homes, including the cost of home scavenging and renovation, through soft retail schemes of up to 48 months and a total value of £2.4 million per customer.
In this context, Mohamed Khalid Al-Assal, CEO and member of Egypt Italia Real Estate, stated that the company took pride in being at the forefront of the real estate development that had contributed to the capital's administrative projects through the very beginning of its business, El Bosco, especially as the new capital's dream of administration began to become a reality. The partnership was part of the company's strategy, which aimed to provide our clients with an integrated set of unique solutions and services, including home-scavenging services in collaboration with the leading interior design firm TDF, with Valeo providing clients with affordable financing plans in instalments of up to 48 months. Al Asal was pleased to re-engage with the non-bank finance platform of Hermes Financial Group so that the company could achieve its strategic objectives.
Walid Hassouna, CEO of the non-banking finance sector of the Hermes financial group and CEO of Valeo, also said he was proud to sign a partnership agreement with one of the major real estate developers in the Egyptian market, drawing on Valeo's own extensive experience in financing housing shedding services, providing Egypt Real Estate customers with a range of real estate finance solutions that meet their needs and modern lifestyle. Hasouna noted that the signing of such a partnership was part of the company's main objective of providing a variety of financing solutions.
Egypt Italia Real Estate is one of the leading companies in the Egyptian market for the development of housing, commercial, hotel and recreational properties. The company's businesses include the Albusco Capital Administrative Projects, Albusco City New Cairo, Vinci, Vinci Street in the new administrative capital, as well as the Llanova Vista Projects, Mall Garden 8, Carro Besance Park, Hilton Garden in New Cairo, as well as the Kay Heand Hilton Eye Projects. This collaboration also comes within the plans of the Hermes Financial Group to maximize the use of companies and subsidiaries and to promote integration among the various non-banking financial sector units. It is reported that last October Egypt Real Estate Italy announced the signing of a £750 million sale-and-re-lease agreement with Hermes Finance Solutions Group, the lead company in the area of financial leasing and privatization solutions in Egypt, with the aim of recapitalizing its pilot project, "Mall Garden 8." It should be noted that "Valeo" has made significant achievements in diversifying the range of services it provides to its clients, as reflected in the expansion of its activities to many areas, including education, health care, e-commerce and retail, as well as in the provision of services to cover home renovation and renovation. Thanks to these notable achievements of Valeo, the company has received several awards over the course of this year alone, including the Best Company in Financial Services Technology Award 2021, during the Technology Innovation Awards ceremony held by Entrepreneur Middle East, and the Best Financial Services Technology Company Award 2021 during the first awards ceremony. "Gulf Business Tech Awards 2021," and ranked fifth in Forbes magazine's Middle East ranking among the most powerful applications of financial services technology in the Middle East.
