This activity is mainly dedicated to Egypt, since there is not by Law any Bank guarantee or any other kind of insurance to protect the investor against the bankruptcy of the developer or non-completion of the property.
This service is dedicated both to property investors and Real Estate agents.
For what concern the property investors, we would secure their payment and release the funds to the beneficiary only after:
- Reviewing all legal documents confirming the legality of the project
- Receiving written and express authorization from the client for each installment
- Receiving from the developer an certificate from a registered Egyptian architect confirming that the construction stage corresponding to the next installment has been duly completed.
For what concern the Real Estate agent, we would secure the payment of their commission within the best delays, in order for the agent not to depend on the developer to receive its commission. Such commission would be paid in the same time as the payment of the installment made to the developer.
Moreover, this is also a service we are directly offering to the developer, in order for them to maximize their sales by offering credibility and security to their potential clients.
As such, we have incorporated in Egypt a specific company for this purpose, managed by our Managing Director. Such company, will offer full security to the property investors, as it would request on top of the investors written authorization, three different signatures at the bank to authorize any transfer. Moreover, in order to benefit from the highest credibility and efficiency, this specific account was lodged with Barlcays Bank.