By:Reham Ali
valU, MENA’s leading lifestyle-enabling fintech platform, announced today that it has partnered with Partment — a digital platform offering their clients fractional shares (co-ownership) in fully-managed second homes across prime locations — to enable users to leverage its flexible and affordable payment plans for Partment’s property management and maintenance services.
Partment and valU aim to provide customers with an unrivaled investing experience by unlocking access to premier vacation homes without the hassle of property management and maintenance.
Through Partment’s platform, properties are fractionalized into up to eight parties, allowing each to own an equal share in the property value and spend 41 nights per year when booked through Partment’s proprietary booking system. Customers will thus be able to finance Parment’s services through valU’s convenient and flexible tenors that range from 6 to 60 months and enjoy a seamless process that enables them to receive approvals within 15 minutes.
Ahmed Seoudy, Group Head of Product Development at valU, commented: “We are happy to partner with Partment today and support a nascent brand in strengthening its presence in the Egyptian prop-tech market. Through this partnership, valU and Partment aim to grant people (investors) access to top-notch residential property services at affordable prices and through a swift and hassle-free process. As the Egyptian real estate market continues to witness price hikes due to rising inflationary pressures, buy-now, pay-later (BNPL) services continue to grow in demand. As such, valU and Partment have come together to provide the public with inclusive financing solutions that enable them to serve on their investments in real estate and benefit from potential returns on their investment.”
Founded in 2022 with a successful pre-seed round of USD 1.5 million, Partment is backed by prominent VCs, including Nclude and Plus VC. Partment revolutionized how people own vacation homes by introducing the concept of offering shares in fully managed second homes in Egypt. By doing so, Partment aims to continue breaking traditional barriers to allow more people to enjoy vacation homes in prime locations at a fraction of the price.
Nadim Nagui, CEO and Co-Founder at Partment commented: “As we continue to witness the rise of co-ownership models in the Middle East, we are excited to be at the forefront of this trend with innovative solutions that are transforming the real estate and property management sectors. Our early adopters’ positive feedback is a testament to the fact that we are solving a real problem for people seeking to diversify their real estate investment portfolio.
Our partnership with valU will further enhance our ability to offer tailored and affordable financing solutions that meet the needs of modern-day consumers and enable more people to achieve their dreams of investing in a vacation home.
We look forward to continuing to innovate and expand access to co-ownership homes across the region.”
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