FAQ – Nessba

FAQ

Your Real Estate Questions, nessba’s Expert Answers

Helping You Find the Information You Need.

What is an SPV?

Simply put, a property’s co-owners establish a legal entity that serves to group them together. This legal entity is called a Special Purpose Vehicle (SPV). Its special purpose is to own the entire unit, while each co-owner owns a percentage within it that equals the amount he or she originally put in. Since the SPV is a limited liability company, this ownership is measured in quotas.
The SPV is established before a particular unit is bought, and is the vehicle responsible for nessba’s relationship with the co-owners on all matters related to that unit. This guarantees that we’re all actively engaged in the decision-making process together.

Why nessba ?

Because nessba co-owns the SPV that owns the entire property with you. This means that both you and nessba have the same financial interest. This equation is unique to nessba in the market, and reflects our desire to re-imagine more collective pathways to financial freedom.
Because nessba is the first Egyptian company to offer you a streamlined, interlinked brokerage and co-ownership solution. Aiming to provide you with comprehensive services within this framework—we enable you to receive periodic rental income from your property, and help you sell it when the timing is right. Coming full circle—our services allow you to co-own, rent-out and then sell your percentage. This is our niche, and what differentiates us in the market.
Because you can become a co-owner for a minimum of LE 100 thousand. On the other hand, you can co-own up to a maximum of 99 percent of the SPV.
Because we oversee the whole process, including its legal due diligence, for you. Yes, this includes overseeing all the property’s paperwork, real-estate valuations, legalities, and fine print.
Because we are a streamlined, digital platform.

How are decisions taken?

Each SPV has a General Assembly (GA) that legally represents all its co-owners, and in which they take collective, legally binding decisions.

When is the best time to sell?

Real estate is a long-term investment, and co-owners should plan accordingly. The GA of each SPV has the power to collectively decide the best time to sell—based on expert third-party real estate advice. Once decided, nessba assists you in the sales process as a broker.

When will we have valuation for the units?

At the end of each year, on December 31st, nessba arranges for third-party valuations of each unit. In this way, co-owners remain aware of their property’s value, and are able to make informed decisions in the GA.

Who manages the property?

Properties are managed by first-class property management companies. These companies will be submitted to each SPV’s General Assembly for approval.

How is nessba different from its competitors?

As of this writing, we are the first, and only, Egyptian company to offer comprehensive, interlinked co-ownership and brokerage services. We co-own every unit with you, and our services allow you to expertly and legally co-own, rent-out and—when the time is right—sell your percentage. This is our niche, and what differentiates us in the market.

What are nessba’s payment options?

Our payment options are clearly detailed on our website. They may periodically change to reflect better negotiated deals for our clients.

How do I pay for my co-investment?

nessba doesn’t accept payments from clients. As outlined above, each property we offer has its own SPV. The SPV has its own bank account (with CIB, for example). You pay your amount directly into your chosen property’s SPV bank account.

What are nessba’s fees?

nessba’s fees, as well as all of our interlinked third-party charges, are outlined for you in detail in your initial co-ownership contract.

How can I contact nessba?

We’d love to hear from you! Get in touch with us via email, here: customerservice@nessba.com, or here: sales@nessba.com
We look forward to hearing from you, and promise to get back to you within 48 hours.

NOTE

We’ve tried to keep this page as simple and informative as possible. If you still have questions, don’t worry! When you join our partnership, we will walk you through our detailed terms and conditions, as well as all the legalities that underpin our process.

At the end of each year, on December 31st, nessba arranges for third-party valuations of each unit. In this way, co-owners remain aware of their property’s value, and are able to make informed decisions in the GA.

At the end of each year, on December 31st, nessba arranges for third-party valuations of each unit. In this way, co-owners remain aware of their property’s value, and are able to make informed decisions in the GA.