Estate Waves launches Meta Egypt, and expands the proptech ecosystem in Africa

Coldwell Banker Egypt partnered with Estate Waves to 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.