valU Partners with Makadi Heights to Launch Convenient Installment Solutions for Home Maintenance, Renovation Fees, and Furnishing
The new service enables homeowners to cover costs associated with their home maintenance, renovation fees, and furnishing in Makadi Heights
Cairo, October 31, 2022
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, has partnered with Makadi Heights, one of Orascom Development fully-integrated towns in the Red Sea, to avail convenient financing solutions for home maintenance, renovation fees, and furnishing. Homeowners at Makadi Heights will be able to comfortably cover the costs associated with the maintenance and renovation of their homes through valU’s flexible and accessible payment plans.
valU’s collaboration with Makadi Heights is testament to valU’s goal of empowering customers and easing their financial commitments. On this front, homeowners will be able to comfortably maintain the quality of their homes without having to deal with any immediate lump sum upfront costs. The partnership is part of series of agreements that valU is rolling out with key real estate players to empower homeowners across the nation.
By availing solutions that support real estate players in providing their residents with special services and payment solutions, partnerships such as this with valU can have significant positive impact on the real estate sector. Additionally, similar collaborations have high potential to achieving key differentiators for real estate developers in the Egyptian market and setting them apart from the competition.
Commenting on the partnership is Walid Hassouna, Chief Executive Officer of valU, “By collaborating with Makadi Heights, we have made strides in our commitment to generating value for our growing customer base across the Egyptian market by partnering with key real estate developers. I am delighted that our innovative payment solutions will empower Makadi Heights homeowners by allowing them to access our user-friendly fintech platform to maintain their lifestyles with peace in mind. This partnership further showcases valU’s ability to identify and unlock value across the sectors it operates in and deliver on our mission to continuously identify gaps in the market where we can serve, enable, and elevate our customers’ lifestyles.”
Tamer Dewidar, Chief Executive Officer of Makadi Heights,also shared his commentary on the collaboration, “We always have our eyes set on improving the experiences of our homeowners in Makadi Heights and ensure that we provide them with best-in-class services and facilities. With inflation on the rise and consumer purchasing power being hindered, this partnership with valU could not have come to fruition at a more opportune time. The synergies that could be generated from our partnership were clear from the start, by allowing Makadi Heights’ homeowners to utilize a leading BNPL platform to pay their maintenance and renovation fees over extended periods of time. We are keen to cease the opportunity to elevate the experience within the Makadi Heights community and deliver our promise of a quality lifestyle to our homeowners.”
Makadi Heights is located in Makadi Bay and covers an area of 3.75 million square meters. Makadi Heights is 15 minutes from Hurghada International Airport and 20 minutes from downtown Hurghada. The town occupies a prime position reaching 78 meters above sea level, at the highest point of Makadi Bay, guaranteeing unparalleled panoramic views of the Red Sea, with over 85% of its total land dedicated to green areas, water features, and open spaces.
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About valU
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.
About Orascom Development Egypt
Orascom Development Egypt (ODE) is the largest subsidiary of Orascom Development Holding AG (ODH). ODE is an integrated developer of resort towns in Egypt, with a vertically integrated business model involving the development of residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructure such as hospitals, schools, and utilities. ODE currently owns a land bank of 50.5 million square meters and 24 hotels housing a total of 4,938 rooms within four operating destinations – El Gouna on the Egyptian Red Sea Coast in Hurghada, Taba Heights on the Sinai Peninsula, Makadi Heights in Hurghada, and Byoum in Fayoum. ODE launched O West, the latest addition to its portfolio and its first project in Cairo, Egypt, located in the Sixth of October City.
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.
