Egypt: Uptown 6 October partners with Fawry to enhance digital payment solutions for real estate transactions
This collaboration aims to streamline and improve the efficiency of financial transactions within Egypt's rapidly growing real estate sector.
Under the terms of the agreement, Fawry will provide Uptown 6 October with a full suite of services, including electronic payment solutions for down payments, real estate installments, utility and maintenance bill payments, and more. Clients will be able to access these payment options via the MyFawry app and Uptowner app, as well as through cash payments at Fawry's extensive network of merchant locations across Egypt.
In addition, the partnership will see the installation of Point-of-Sale (POS) devices at Uptown 6 October's sales offices, enabling seamless payments via MasterCard, Visa, and other major bank cards. The collaboration also includes the launch of a co-branded, unified electronic payment gateway, which will offer customers flexible payment methods, including digital wallets, bank cards, and cash payments.
Moataz Shaarawy, Co-CEO of Uptown 6th of October Group of Companies, commented: 'Technology is a cornerstone for building smart communities. Our partnership with Fawry reflects our vision to provide advanced services that prioritize customer convenience. This collaboration will reduce reliance on paper transactions by up to 95%, making the process faster, more secure, and more efficient.'
Waleed El Sayed, Chairperson of Fawry Dahab, expressed excitement about the partnership, noting: 'Egypt's real estate sector is experiencing significant growth, and we are proud to be part of this evolution. Through this collaboration, we aim to offer Uptown 6 October a broader range of digital solutions, supporting the digital transformation of the sector and enhancing technological integration.'
He added: 'With our flexible range of payment options and an expansive service network across Egypt, we aim to provide an easy and efficient payment experience for all Uptown 6 October clients.'
The collaboration also extends to Uptown 6 October's suppliers and contractors, who will benefit from a dedicated electronic payment system powered by Fawry's transfer platform. This system will allow for direct settlements into bank accounts, along with periodic payment reports to ensure financial transparency and faster transaction cycles.
Furthermore, both companies are committed to promoting a digital payment culture through awareness campaigns and workshops, laying the groundwork for future collaboration to support growth and investment in Egypt's real estate sector.
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