Madaar, has announced a 10-year partnership with VIP Coating Solutions in Egypt, making it the sole agent for latter in the country. The agreement is set to significantly expand Madaar’s portfolio and market reach as it will provide other real estate companies with VIP Coating Solutions’ products, while also maximizing its ability to serve its customers. Both companies target sales worth EUR 15 million for the first five years of the agreement.
Madaar Development is a full-service, privately held commercial and residential real estate investment and development company, known for rapidly completing projects from start to finish, including site selection, acquisition, financing, construction, property management, and maintenance.
VIP Coating Solutions is a globally recognized leader in high-performance surface protection systems, providing top-tier solutions encompassing substrate repair and preparation products, priming and pre-treatment systems, high-performance coatings, and superior aesthetic finishes.
This comes in line with a series of partnerships that Madaar has been establishing over the past year, including an agreement with Crystal Lagoons, the global leader in artificial lagoon technology. VIP Coating Solutions is the only coating solutions company certified by Crystal Lagoons.
“This agreement is a transformative step for Madaar, as we aim to further solidify our presence in the Egyptian market and continue to pursue our long-term business plan and reaffirm our commitment to excellence,” Madaar CEO, Ahmed Ehab said.“We pick our partners with care, determined to add value for our stakeholders. As the sole VIP agent in Egypt, we can provide unique and innovative solutions across our projects and beyond. We look forward to achieving great success together and amplifying our combined potential.”
“We are very proud to announce this long-term partnership with Madaar, a leader in the real estate development field, and a company that has earned the trust of its customers by only accepting the highest quality for every element of its projects,” Alexander Voelkel, Managing Director of VIP Coatings Construction Chemicals LLC, said. “VIP has a distinguished presence in over 65 countries worldwide, and in addition to construction, we are successfully involved in a multitude of industries, including mining, oil and gas, water and wastewater and power, and we firmly believe that partnering with the right stakeholders has been instrumental in our growth and continued expansion.”
