EFG Hermes units seal Egypt real estate partnership deal
Leading Egyptian real estate developer Inertia said it has joined hands with PayTabs Egypt and valU, two key NBFI subsidiaries of financial services group EFG Hermes, to help its clients process payments online.
This partnership marks the Egyptian real estate sector’s first venture into digital payment solutions and efforts to accelerate contactless real estate sales during the pandemic.
Inertia said it will enable the group’s clients to process payments online, including the scheduled maintenance and unit reservation costs processed through PayTabs Egypt’s payment gateway.
Additionally, valU aims to provide ultimate affordability to Inertia’s clients with its home improvement financing proposition, where financing facilities extend to include property finishing and furnishing costs backed with easy installment payment plans that may range over 12 to 48 months for an amount up to EGP 2.4 million per customer.
The agreement is the first of its kind in Egypt’s real estate sector and aims to utilise digital solutions to provide convenience and affordability, as well as maximise adherence to pandemic-related precautions, remarked General Manager of PayTabs Egypt Hany Soliman, after signing the deal with Inertia Chairman Ahmed El Adawy and valU CEO Mohamed El Feky.
“We are delighted to pioneer a new solution within the real estate sector alongside Inertia and we believe that this step is the first of many towards digital integration for a more seamless large-scale payment experience,” remarked Soliman.
“Through such partnerships, we aim to widen the scope of our products and services that allow the Egyptian client to securely and effortlessly use our comprehensive online payment methods and promote digital transactions as the future of cashless payment processes in Egypt in collaboration with Banque Misr,” he stated.
Inertia is keen on providing integrated benefits and solutions through easy-to-use platforms for its clients.
While these advancements were already part of the company’s service expansion framework, they have become especially important in response to drastic changes that global and local real estate operations have undergone following the spread of Covid-19.
“This partnership complements Inertia’s strategy to establish futuristic, smart cities that cater to growing lifestyle changes,” said El Adawy.
“Real estate is now witnessing unprecedented levels of digital transformation, which has grown into a necessity across many sectors due to the challenges posed by the pandemic. We believe in e-commerce and online payment services’ undeniable role in helping the country achieve financial inclusion and lately have supported curbing the spread of Covid-19 while maintaining successful business continuity,” he added.