Madinet Masr, a prominent Egyptian real estate developer, has launched a new product called the “Thiqa” Certificate. This innovative solution is aimed at addressing a significant challenge faced by property buyers in Egypt, which is the demand for additional maintenance fees after a few years of receiving the unit.
The “Thiqa” Certificate is an alternative to the traditional maintenance deposit. Customers pay a one-time fee for a guaranteed maintenance service for up to 20 years from the date they receive their unit. This ensures high-quality upkeep of common areas and essential services within residential complexes, ultimately enhancing the project’s value and preserving the value of individual units.
According to Madinet Masr: The “Thiqa” Certificate offers several benefits to property owners:
When you invest in our unit, we want to make sure that you have peace of mind. That’s why we offer a certificate that guarantees unit maintenance for 20 years, which means you won’t have to worry about any additional payments during this time. With this guarantee, you can rest easy knowing that your unit will be taken care of for the next two decades.
We also believe in cost transparency and want you to know the total maintenance cost upfront. This approach enables better financial planning and budgeting and eliminates hidden costs or surprises down the road.
Our certificate ensures that you will receive high-quality maintenance for common areas and essential services within the project. We hold ourselves to high standards of maintenance, and this certificate is a testament to that commitment.
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