Coldwell Banker Egypt partnered with Estate Waves to launch a prop-tech platform dubbed Meta Egypt, in an official press conference.
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
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.
3. Estate Intel, Nigeria
Founder: Dolapo Omidire
Company Name: Estate Intel Inc.
Sector: Real Estate Data and Analytics
Key Regions: Nigeria, Ghana, Kenya, Côte d’Ivoire, Morocco, Egypt
Highlighted Investors: MetaProp.
Investment Amount: $ 0.5 Million
Year: September 2022
Estate Intel is a data platform that helps organizations interacting with the Real Estate and construction industry make faster and smarter decisions. The research and data company headquartered in Nigeria started as a blog in 2016 and joined the largest Proptech Accelerator Program in the world, Metaprop, in 2021. In December 2022, the company emerged as Africa’s Proptech Company of The Year, in the Africa Housing Awards. For more information on other prop-tech companies in Nigeria, please click here.
4. Flow Living, South Africa
Co-Founder and CEO: Daniel Levy
Company Name: Flow Living
Sector: Real Estate Data Listing and Blog
Key Regions: South Africa
Highlighted Investors: Futuregrowth Asset Management
Investment Amount: $ 4.5 Million
Year: January 2023
Flow Living is a proptech company with headquarters in Johannesburg, South Africa. It was founded in January 2019. Flow creates ads from listings and brand profiles and targets them to clients through various social media platforms such as Digital Billboards, Google, Instagram, and Facebook.
5. Jumba Kenya
Founder: Kagure Wamunyu
Company Name: Jumba
Sector: Construction Technology
Key Regions: Kenya
Highlighted Investors: LocalGlobe
Investment Amount: $ 4.5 Million
Year: February 2023
Jumba is a construction technology company based in Nairobi Kenya. It was founded in April 2022. Jumba helps source data, pricing and construction materials, under one marketplace. Additionally, the platform provides data for manufacturers and suppliers of construction materials.
The addition of Meta Egypt into the Africa Proptech ecosystem will help solve a unique problem in Africa’s Real Estate Market with a focus on Egypt, which has been the hurdle of accessing information. Other major objectives this product hopes to solve include bridging the gap between property buyers and sellers and enabling investors to make informed decisions.
