AXA Egypt and Hassan Allam Properties (HAP) announced on Sunday the launch of the first insured property homes in the Egyptian market at HAPTown in Mostakbal City.
“This is a great milestone for insurance in Egypt, and we are proud to be at the forefront of it together with our partner Hassan Allam Properties, sharing the same strategy of putting customers’ needs as our ultimate priority. Being the first provider of home insurance in Mostakbal City derives from our continuous drive at AXA to develop innovative distribution channels ensuring the provision of our insurance services to everyone, easily and effectively,” said Ahmed Nasef, managing director at AXA Egypt.
On the other hand, Mohamed Medhat Allam, CEO of Hassan Allam Properties, said that his company is excited to join forces with AXA to introduce the home insurance scheme to HAPTown customers within Mostakbal City as a start.
He added that HAPTown owners will be eligible for a one-year, free home insurance scheme after their unit delivery.
“Our role as an insurance brokerage firm is to enhance the opportunities for cooperation between investors and insurance companies,” said Hassan Khalifa, CEO of Rooya Insurance Brokerage, adding, “the success of the partnership between two of the pioneers in their respective fields, AXA in insurance, and Hassan Allam Properties in real estate development, is a positive indicator that the insurance culture is emerging not only in the real estate sector, but in the Egyptian market as a whole.”