Square Seven signs off a collaboration agreement with VESTA to manage and lease serviced luxury homes
Square Seven signed a cooperation agreement with VESTA to empower their clients/home owners by turning their idle and vacant properties into professionally managed, fully serviced luxury units. These units are, in turn, showcased in the international rental market to ensure steady returns on investment throughout the year.
Ali Abdel Ghaffar, Founder & CEO of Square Seven, stated that his company has foreseen the prospect of utilizing properties during periods when they are not occupied by their owners. On that account, he identified the opportunity of collaborating with VESTA, the most prominent company specialized in managing and renting luxury apartments in Egypt.
Abdel Ghaffar added that this cooperation kicks off with 54 units whereby VESTA manages these luxury homes using their on-ground professional hospitality team, and virtually using their top-of-the-line portal promoting year-round rentals to business and leisure travelers, ensuring unforgettable and recurring experiences. This contributes to a maximum return on the units and promotes Egyptian real-estate internationally, which is one of the country’s priorities today.
He pointed that these units are in various prime locations by the Red Sea, Sheikh Zayed, New Cairo and North Coast and the company plans to expand the number of units that are managed as a “hotel” through VESTA. Square Seven sees itself as a true business partner with its clients and its role does not end at marketing the property but continues further by growing the client’s investments.
Miranda Guirguis, Founder of Miranda Homes, a subsidiary of Berkshire Hathaway International Group, and the strategic partner of Square Seven, assured that the cooperation between Square Seven and VESTA brings great mutual benefits to both parties. Square Seven provides more comprehensive services to its clients and increases the returns on their units and VESTA benefits from Square Seven’s clients base and real estate projects, as well as its presence outside of Egypt through the company’s branch in Canada.
She added that VESTA will have access to the company’s foreign client base through its newly opened branch in Toronto and the opportunity to manage their properties in Egypt. VESTA takes in consideration that the foreign owners use their units seasonally and offers them a yearlong management and rental service during the times they are vacant for maximum earnings.
Haitham Faris, Founder and CEO of VESTA Hospitality, explained that VESTA is currently the leading company in the field of property management specializing in upscale serviced rentals. The company provides the unique combination of space and comfort of a fully equipped luxury home and the style and the hospitality of a 5-star hotel aiming to turn the real estate investment into a steady source of income rather than a liability for homeowners.
Faris explained that since the company’s inception in 2019, the company’s goal is to exponentially grow its portfolio of properties locally and move-forward regionally within the coming two years. Currently the company has a broad presence in El Gouna, Soma Bay, Sahl Hashish, and Cairo and is looking forward to the collaboration with Square Seven as it reinforces Vesta’s short term expansion plan.