21 July 2019
Egyptian developer Tabarak Holding's new real estate services subsidiary would initially cater to buyers of its properties in Egypt and the Gulf states, the company CEO said.

In May, the company had announced the launch of the new subsidiary called Tarfeeh Property Management & Rent to provide mainly leasing and resale services for its customers.

Ali El-Shorbany told Thomson Reuters Projects the company would initially focus on customers of Tabarak Holding but didn't rule out extending these services to other companies in the future.

"The new company would help us maintain the quality of our projects and provide periodic maintenance and other services that add value for our customers in Egypt and the Gulf region," he said during an interview last month.

He said the company would advise and guide customers who wish to rent, sell or even replace their units in Tabarak projects.

"We will use market research to determine the appropriate price," he explained.

Tabarak Holding was established in 1979 and operates in Egypt, Saudi Arabia and the UAE.

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refnitiv.com)

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