Coldwell banker Egypt, partnered with Estate Wavesto launch a prop-tech platform dubbed Meta Egypt, in an official press conference that was made on 10th May 2023.
In the announcement, Meta Egypt is expected to showcase over 450 projects and over 30,000 residential, commercial, and administrative units from 100 of Egypt’s largest real estate development firms. Notably, the investment amount for Meta amounted to EG 150B ($ 4.9M), from an undisclosed source.
Meta Egypt’s launch comes at a time when Africa’s proptech industry is gaining popularity to tackle the challenge of inadequate information, which has been a key setback impacting the Real Estate Market and its investments.
As a prop-tech platform, Meta will increase the visibility of Egypt’s property market to various parts of the world, by shedding more light on various properties and their compositions, as well as aiding investors in making informed investments in the property market.
That being said, it will join other prop-tech companies spread across Africa as but not limited to;
1. Nawy Estate
Founder and CEO: Mostafa Beltag
Company Name: Nawy Estate
Sector: Brokerage And Property Financing Services
Key Regions: Egypt
Highlighted Investors: Sawiris Family
Investment Amount: $ 5 Million
Year: February 2022
Nawy Estate is an Egyptian prop-tech startup founded in 2016, by a team consisting of Mostafa Beltag, Abdel-Azim Osman, Aly Rafea, Ahmed Rafea, and Mohamed Abou Ghanima. Nawy platform, or the ‘Move In Pay Later’ service, gives customers the chance to move into a home with payment plans of up to 10 years.
2. Mubawab, Morocco
Founder: Kevin Group
Company Name: Mubawab
Sector: Real Estate Data Listing
Key Regions: Morocco
Highlighted Investors: Dubizzle Group
Investment Amount: $ 10 Million
Year: March 2021
Mubawab is an online listing portal for properties based in Morocco, that are both for sale and rent. It was founded in 2010 to provide Real Estate data and solutions to Arabic communities such as Morocco, Egypt, Europe and Lebanon among others. Currently, the platform has 123,956 properties in Morocco listed on it.
