Housing and Development Properties (HDP), the real estate arm of Housing & Development Bank, has signed a cooperation agreement with EPower to manage, operate, and maintain electricity and water networks across several of its residential developments. The agreement aims to ensure the efficient operation of utility infrastructure and enhance service continuity across HDP's projects. Under the agreement, EPower will be responsible for the operation and maintenance of medium- and low-voltage electricity distribution networks, in addition to managing water supply services. The company will contract directly with residents, install and operate electricity and water meters, issue monthly consumption bills, and collect payments in accordance with tariffs set by the Egyptian Electric Utility and Consumer Protection Regulatory Agency and the Egyptian Water and Wastewater Regulatory Agency. The scope of work also includes conducting routine and corrective maintenance, supplying spare parts, and overseeing all operational phases in line with applicable safety and quality standards, with the objective of ensuring uninterrupted service. Amgad Hassanein, Vice Chairperson of HDP, said the company's strategy is based on partnering with specialized service providers to support the efficient operation of its developments. He emphasized that integrated utility management is essential to meeting residents' daily needs and ensuring the long-term sustainability of real estate projects. Ahmed Nada, CEO and Managing Director of EPower, said the company continues to expand its presence across residential and mixed-use developments in Egypt, currently serving more than 45 developers and approximately 35,000 customers. He added that the partnership with HDP reflects EPower's commitment to enhancing service quality and operational efficiency. The agreement covers seven HDP developments, including Club Hills, Westview, and Terrace in West Cairo; Tadla, Square One Exclusive Residences, and The Gray in East Cairo; and The Island project at Marina 5 on the North Coast. EPower will also provide technical and after-sales support across all covered projects.
