Theqa: Madinet Masr's flagship solution to challenge-free maintenance deposits in real estate
Updated 4/1/2024 9:24:00 AM
Arab Finance: Madinet Masr has launched its property warranty Theqa via its innovation arm Madinet Masr Innovation Labs to substitute maintenance deposits, as per an emailed press release.
The first-of-its-kind Theqa aims to provide innovative solutions to customers who request differences in maintenance expenses that are paid a few years after receiving the unit.
Via Theqa warranty, customers are required to pay for the maintenance and operation services in the form of a property warranty certificate instead of the traditional maintenance deposit, without any additional expenses for up to 20 years as of receipt of the unit.
“This step closely aligns with Madinet Masr expansion strategy that aims to fulfill the various needs of the Egyptian market and create innovative solutions to the challenges that customers face,” President and CEO of Madinet Masr Abdallah Sallam commented.
“Theqa is Madinet Masr Innovation Labs latest solution to end the persisting conflict of the differences in maintenance deposits between the developer and the customer, thus achieving an added value and removing the associated financial burden,” he added.
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