EGYPT – AVEN Developments and AXA General Insurance, one of the world’s largest insurance companies, have signed a partnership agreement to provide insurance services to unit owners at Baymount Sokhna developments.

The partnership agreement is the first of its kind in the Egyptian real estate market. It guarantees the provision of innovative insurance and protection services to the owners of units in the Galala region of Ain Al-Sokhna.

Furthermore, it provides them with Roadside Assistance services, even if they are driving outside the premises in the region.

This partnership is aligned with MAVEN’s strategy, which focuses on the development of the real estate sector as one of its top priorities.

This comes on the back of the sector’s significant role in Egypt’s economic and social development.

“The partnership revolves around offering top-notch insurance and protection services to the customers of Baymount; a project that complies with international standards and is located in Al Galala region, Ain Al-Sokhna, a key and strategic tourist attraction in Egypt,” Hossam Sharkawy, CEO of MAVEN Developments, said.

“We are always keen to provide our clients with integrated services hoping we add true value that will enhance the quality of life in their communities. The partnership between MAVEN Developments and AXA Egypt, and what it provides to Baymount’s clients, is perhaps the best proof of this.”

The partnership is also in line with MAVEN’s efforts to meet customers’ needs, and provide unique and integrated services that increase the value-for-money of its units alongside ensuring privacy and comfort-living for all of its residents.

El-Sharkawy further emphasised that the insurance and protection packages covers all residential units in Baymonut Sokhna, including payment protection in time of hospitalisation and Roadside Assistance Insurance.

“This partnership reflects AXA’s vision ever since it entered the Egyptian market,” Ahmed Nasef, Managing Director of AXA General Insurance, said.

He added that it also reflects AXA’s strategy in Egypt in terms of providing innovative insurance solutions to clients to help protect them and what they value in the different aspects of life.

Nasef said that AXA plans to collaborate with MAVEN Developments in all of its upcoming projects. The partnership presents an opportunity for both companies to advance and bring their robust services to a greater number of consumers.

Baymount is MAVEN Developments’ first project in Egypt. Located next to Al-Galala International Resort in Ain Al-Sokhna, it provides its inhabitants with a variety of digitized and integrated services at the residential, entertainment and business level. This positions it as one of the fourth-generation cities and aligns it with Egypt’s Vision 2030.

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