Concept Developments contracts with Allianz to provide insurance service for its clients

By Hamed Mahmoud

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.

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 recognised a distinguished company in the insurance sector, he added.

Aboelmagd disclosed that the company is implementing SENET Mall, with a total Business volume worth LE200m. 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.