Beltone Consumer Finance “Belcash” and Orascom Development Holding signed partnership agreements to offer Home Renovations and Education Finance products to Orascom Development residents in two of its fully integrated towns “El Gouna” and “Makadi Heights”.
The partnership agreement with El Gouna included a new education finance product specifically offered for “El Gouna International School” where parents will now have the opportunity to finance their kids’ tuition fees, whether partial or full fees, on equal monthly installments over 6 to 12 months. This product comes with minimal documentation requirements and instant approval to facilitate the whole experience to El Gouna community. In addition to that, the second financing opportunity now available to El Gouna homeowners is the Home Renovations product, which gives residents the option to finance their Home Renovations products & services for an extended period that can reach up-to 60 months with competitive interest rates and instant approval. EL Gouna is Orascom Development’s first iconic town located in the Red Sea region. It is built on a 36.9 million square meter area and is surrounded by natural landscapes. Many regional sports and cultural events are held there, and the town has managed to hold the title of the Middle East’s first sustainable town since 2014.
For Makadi Heights homeowners, the newly signed partnership now allows them to pay for home renovations and extra works over installments of up to 12 months with 0% interest. The agreement offers Makadi Heights residents a flexible and comfortable installments plan, to ease the process of beautifying their homes. Makadi Heights is one of Orascom Development fully integrated towns by the Red Sea; in the heart of Makadi Bay, just 15 minutes away from Hurghada airport and 20 minutes away from Hurghada.
Moemen Salem, CEO of Beltone Consumer Finance “Belcash” commented "We’re very proud with our partnership with Orascom Development Holding which emphasizes our commitment and focus towards entering the education finance market and being a main player and at the same time offering our Home Renovation product to customers of Orascom Development.
Tamer Dewidar, CEO of Makadi Heights commented "At Makadi Heights we strive to offer our residents diverse services and facilities to ensure their comfort and satisfaction. Thereby, I’m very excited about our new partnership with Beltone Consumer Finance “Belcash” to offer our homeowners the flexibility to cover their home renovation cost and extra works over a flexible payment plan.”
Mohamed Ashour, Head of Commercial and Business Development of El Gouna commented, "I’m happy with our new partnership with Beltone Consumer Finance “Belcash” to offer our residents and community a worry-free opportunity to pay for their kids’ tuition fees and home renovations with “Belcash” over long term installments through a hassle-free process.”
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About Beltone Financial Holding
Beltone Financial Holding (listed on the Egyptian Exchange, trading under BTFH.CA) is a leading regional investment bank, offering a full range of financial services to companies, institutions, and high-net-worth individuals in the Middle East, Europe, North America, and Asia. Beltone is the largest non-bank affiliated asset manager in Egypt with around EGP26bn in AUMs, and is a leading provider of independent equity research in the region. The firm’s track record includes the execution of over EGP110bn in M&A and capital markets transactions.
Beltone Financial setup three new subsidiaries last year to establish its non-bank financial services (NBFS) platform, comprising Beltone Consumer Finance (Belcash), Beltone Leasing, and Beltone Venture Capital.
About Beltone Consumer Finance “Belcash”
Belcash is the consumer finance arm of Beltone Financial, offering several products and services targeting and empowering individual customers, conveniently enabling them to “Buy Now Pay Later” via easy installment plans.
About Orascom Development Holding - ODH
Orascom Development Holding “ODH” is a leading developer of fully integrated destinations, with more than 30 years of experience and a proven track record of sustainable development, including hotels, real estate units, and leisure facilities such as golf courses, marinas and supporting infrastructure. ODH's diversified portfolio is spread over 7 countries (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro, and UK.) ODH currently operates 9 destinations: 5 in Egypt (El Gouna, O West, Makadi Heights, Byoum and Taba Heights), The Cove in the UAE, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro, and Andermatt in Switzerland. ODH recently launched O West, the latest addition to its portfolio and its first project in Cairo-Egypt, located in the heart of 6th of October City. ODH currently owns a land bank of 101 million sqm and a comprehensive hospitality of 7,205 rooms. ODH is listed in the SIX Swiss Exchange.
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