Madinet Masr (Stock code MNHD.CA), one of Egypt’s leading urban
community developers, has unveiled its latest innovative venture, Madinet Masr Innovation
Labs. This groundbreaking and first-of-its-kind arm is dedicated to providing cutting-edge digital
solutions and products tailored to develop the Egyptian real estate market. Simultaneously,
Madinet Masr Innovation Labs introduced its first innovative platform, “Touba”, which offers
customers innovative solutions for purchasing and investing in real estate.
The products and solutions offered by Madinet Masr Innovation Labs encompass a wide
range of digital and marketing platforms, with the aim of revolutionizing the concept of buying,
owning, and selling real estate. The platform will also provide innovative solutions and real
estate products that cater to customers’ demands and needs while aligning with the global shift
toward creating sustainable communities.
Touba is Madinet Masr Innovation Labs’ latest innovation. It enables customers to purchase a
housing unit and choose the most suitable method of payment by breaking down the property
into a simple measuring units called “Touba”, the Arabic term for a brick. By adopting this
approach, Touba offers various payment plans without bank cheques. As the first-of-its-kind in
the region, Touba allows customers to buy “Touba” as a method of measurement to own the
property they desire eliminating time restrictions associated with the traditional methods require
d to fully own a property.
Through a user friendly application , the Touba platform allows customers to conveniently pay
for the property and track the number of bricks they own without the need to physically visit the
company’s premises. Touba is equipped with various flexible payment plans tailored to meet the
diverse needs of customers, with options up to 10 years. The concept will debut at Elan, located
at Sarai New Cairo.
Eng. Abdallah Sallam, President and CEO of Madinet Masr, expressed his enthusiasm for
the unveiling of Madinet Masr Innovation Labs, which aims to bring new and innovative
solutions and products to propel the local real estate market forward. “A carefully curated team
of young calibers from various sectors will be responsible for achieving the objectives of
Madinet Masr Innovation Labs, continually introducing new and creative concepts and solutions
to the market to change the existing norms of property ownership and meet the evolving
demands of customers as the market continues to grow.” He concluded by emphasizing that this
is just one step in Madinet Masr’s ambitious plan to tap into various fields, with a special focus
on innovation, which plays a pivotal role to achieving economic development.
PRESS RELEASE Madinet Masr The launchoi 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. It is worth mentioning that Madinet Masr has an integrated expansion strategy focused on which plays a pivotal role to achieving economic development .
