Concept Developments has contracted with Allianz Life Insurance Company to provide life insurance facilities for its clients in SENET and SENET-II projects in the New Administrative Capital (NAC).

This deal comes as part of Concept Developments’ plan to support its customers and provide all quality elements in its projects.

The contract was signed by Concept Developments CEO Ehab Aboelmagd, in the presence of: Vice-Chairman Al-Motawakel Ahmed; Mahmoud Gouda Member of the Board of Directors and Director of Marketing Sector; Mohamed Abu Al-Khair Member of the Board of Directors and Sales Director; Joseph Ezzat, Head of the Business Development Sector; Hazem Saleh, Corporate Account Executive at Allianz Life Insurance Company; and Maryam Khairy, Customer Account Manager at Allianz Insurance Company.

Aboelmagd said that the contract takes into account the customer's death for any reason, and in case they experience total disability as a result of illness or accident. As a result, the insurance company contributes to relieving the burden on legal heirs, who will receive the unit without incurring any installments or costs.

He added that the contract includes covering maintenance deposit if it has not been paid yet, as the insurance valid throughout the whole period of payment to the contracted unit.

Aboelmagd confirmed the importance of the insurance component in ensuring the rights of all parties. It also serves to reassure the customer regarding the safety of their money and investments in the project, whilst preserving the rights of their inheritors.

He further stressed the importance of insurance in the life of any citizen, such as for customers in real estate projects, in order to preserve and guarantee their money.

Aboelmagd highlighted the importance of looking for innovative solutions in property projects in line with developments in global and local market as well. 

The company is constantly seeking to contract with successful companies to enhance its investment and provide additional services to its customers. So we contracted with Allianz Life Assurance Company recognized a distinguished company in the insurance sector, he added.

Aboelmagd disclosed that the company is implementing SENET Mall, with a total Business volume worth EGP 200m. The project is a commercial, administrative, and medical mall located in the Downtown area of the new administrative capital.

It is located near Almasa Hotel and Bin Zayed Corridor, and is comprised of a ground floor and eight typical floors, as well as a garage. 

Commercial unit spaces at the mall range between 25 sqm and 100 sqm, whilst medical units starts from 18 sqm up to 100 sqm. The areas of administrative units range between 30 sqm and 100 sqm.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.