alU Partners with Talaat Moustafa Group (TMG) to Offer Convenient Payment Solutions Across Two of its Malls in Madinaty and Al Rehab
valU Partners with Talaat Moustafa Group (TMG) to Offer Convenient Payment Solutions Across Two of its Malls in Madinaty and Al Rehab
The agreement will see valU offer flexible Buy-Now, Pay-Later (BNPL) solutions across TMG’s Open Air Mall in Madinaty and Gateway Mall in Al Rehab, and launch two arenas for the viewing of upcoming football matches
Cairo, November 20, 2022
valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform announced today that it has partnered with Talaat Moustafa Group (TMG), the leading real estate developer in the Egyptian market, to offer convenient payment solutions to customers of TMG’s flagship Open Air Mall in Madinaty and Gateway Mall in Al Rehab – two of the largest full-fledged retail outlets in Egypt’s fast growing East Cairo area.
The collaboration will see valU offer customers and shoppers across both malls a myriad of special offers on a year-round basis exclusive to TMG’s retail network. valU is also set to establish retail branches dedicated to Sha2labaz – the BNPL leader’s first-of-its-kind reverse financing, instant-cash redemption product that grants users cash reimbursements on purchases – offering services to both valU and non-valU customers.
Alongside these offerings, valU will launch two state-of-the-art arenas that will introduce unrivaled, stadium-like public viewing experiences of upcoming football matches. These arenas are slated to house a broad range of unique offerings, food and beverage choices, as well as interactive competitions and activities.
Commenting on the partnership, Walid Hassouna, CEO of valU, said, “Building this solid foundation with a real estate giant such as TMG is testament to our unwavering commitment to become Egypt’s leading fintech player by forging strategic partnerships that not only enhance our service offering but deepen the fintech ecosystem. Open Air Mall and Gateway Mall are rapidly growing to become key retail hubs in East Cairo, and this partnership aims to equally benefit mall shoppers and vendors, especially during these testing economic times. We could not be prouder to have TMG in our partner network, and we look forward to sustaining this mutually beneficial relationship that will continue to bring to market more opportunities that foster convenience, affordability, and inclusion.”
Omar Hisham Talaat Moustafa, Chief Business Development Officer at TMG, also commented on the agreement saying, “We are pleased to have forged this partnership with valU as we fulfil our strategy to enhance the service offering within our commercial property portfolio. We’re consistently on the lookout for ways to provide customers with innovative solutions that both improve and simplify their lives — and in our minds there was no better partner than valU to help us unlock financial value for consumers through their seamless, innovative financing solutions that enable people to meet their budget and lifestyle needs.”
TMG’s landmark Open Air Mall is one of Egypt’s largest super regional shopping and lifestyle complexes. The mall sits on a vast 92,000 sqm of Gross Leasable Area (GLA) and boasts eight retail buildings that overlook a wide area of vibrant green spaces and artificial lakes, and offer one-of-a-kind shopping, dining, and entertainment experiences to customers. Open Air Mall houses prominent brands such as Carrefour, Renaissance Cinemas, Zara, Massimo Dutti, H&M, Virgin Mega Stores, Kiko Milano, and Decathlon, among others. The mall is strategically located on the Cairo Suez highway just 10-20 minutes away from New Cairo, the New Administrative Capital, and Al Rehab City, and serves over 4.5 million individuals residing in these areas.
Gateway Mall is TMG’s most recently launched retail center stretched out across 26,000 sqm of GLA and is slated to cater for the residents of El Rehab and New Cairo. Accessible through The Mohamed Naguib Axis and Al Rehab City’s gate 12, the mall offers residents and visitors a comprehensive suite of entertainment, commercial, administrative, and medical services. Gateway Mall is home to Panda Super Market, the first bowling center in Al Rehab City, and many renowned brands such as MAGRABI, B. Tech, Raya electronics, Starbucks, Kids Station, The Escape Room, and co-working spaces, among others.