The real estate sector in Egypt is undergoing a rapid transformation, driven by the surge in PropTech — a fusion of property and technology. As the country continues its shift towards a more digitally-driven economy, PropTech is revolutionizing how Egyptians buy, sell, and rent properties. Startups and real estate companies are using innovative technologies to make transactions faster, more transparent, and more accessible than ever.
The rise of local PropTech startups
A new wave of Egyptian PropTech startups is transforming the real estate market. Companies like Nawy, BirdNest, and Partment are introducing fresh, innovative solutions that make buying and renting properties easier and more accessible than ever.
The growing popularity of short-term rental platforms like Airbnb is reshaping Egypt’s real estate market. In Cairo, Airbnb listings are booked for an average of 193 nights per year, reflecting rising demand for alternative lodging options, according to Airbtics.
Generally, Egypt’s real estate market is projected to reach $20.02 billion by the end of the year and expand to $33.67 billion by 2029, Cityscape Egypt predicted.
Meanwhile, PropTech investments in the Middle East and North Africa (MENA) region totaled $70.7 million in 2023, with Egypt securing $500,000 of that funding, according to Wamda Research Lab. While Egypt’s share remains modest, its growth potential is evident. Further supporting this momentum, Khaled Abbas, Chairman and Managing Director of the Administrative Capital for Urban Development (ACUD), announced in September 2024 the launch of a new business incubator for real estate startups. Abbas outlined his vision during the Invest-Gate roundtable discussion, PropTech: The Foundation for Building the Future.
BirdNest: revolutionizing short-term rentals
BirdNest is a prime example of PropTech’s impact on Egypt’s real estate market. Co-founder Mostafa El-Nahawy told Business Monthly that the company provides renters with a unique solution, offering fully furnished apartments through ready-made furniture packages—similar to buying “ready-made clothes” instead of tailoring a suit.
Currently, BirdNest manages over 450 rental units in Cairo’s 5th Settlement. El-Nahawy noted that when the business first launched, there was skepticism around short-term apartment rentals, especially for tourists. Many Egyptians doubted that visitors would choose apartments over hotels. However, years of inflation and currency devaluation have shifted perspectives. “People became more convinced with the idea as it maximizes yield, and the units are rented in dollars, so it ticks all the boxes,” he said.
Looking ahead, El-Nahawy sees vast opportunities for innovation in the real estate sector. “We are just scratching the surface of what we can do in the real estate sector,” he said, hinting at future advancements such as construction technology.
Nawy: A one-stop-shop for real estate solutions
Nawy, another key player in Egypt’s PropTech sector, has grown significantly since its inception. Co-founder Abdel-Azim Osman told Business Monthly that the platform now lists over 12,000 properties on its website. Nawy began as a property listing platform but soon expanded into brokerage services, and mortgage solutions, and even launched Nawy Shares — a platform that allows users to buy shares in properties rather than purchasing entire units.
Osman noted that real estate remains the preferred asset class for many Egyptians, particularly given the country’s historical preference for land ownership. “This (Nawy Shares) is our fastest-growing business line. Just last week, we released 10 properties, and within one hour, all 10 were sold out,” Osman explained. The entire process is conducted online, with customers using credit cards to secure their investments.
The company has also invested heavily in data analytics, using a centralized database to track property sales, prices, and specifications. This data-driven approach allows Nawy to offer personalized advice to buyers and select properties for Nawy Shares.
“The core of everything in Nawy is data and analytics,” Osman added.
In addition to property sales, Nawy is making strides with virtual reality. Osman revealed that the company has acquired the “Unreal Engine” — a 3D visualization tool that enables users to take virtual walkthroughs of properties before they are built. This technology helps potential buyers visualize the future of developments and make more informed decisions.
He added that in 2023, 89,000 properties were sold in gated communities, with Egyptian expats accounting for one-third of the buyers.
Osman also highlighted the launch of Nawy Unlocked, a service that completes unfinished properties within compounds, shares the finishing costs with customers, and then rents out the units in exchange for a percentage of the rental revenue.
Looking forward, Nawy plans to expand its presence beyond Egypt. Osman mentioned that the company is eyeing new markets in the coming months and will continue to innovate with smoother mortgage products and virtual reality features.
As the Egyptian real estate market adapts to the digital age, trends like smaller down payments and longer payment terms are reshaping the landscape. Osman noted that these changes have contributed to a surge in sales volume, making this one of the hottest real estate markets Egypt has seen in the past 3 to 5 years.
Partment: Fractional co-ownership
As the PropTech sector continues to reshape real estate in Egypt, Partment is also emerging as a key player in revolutionizing second-home ownership through fractional co-ownership.
Founded in Cairo in 2022 by Nadim Nagui, Ahmed Raggal, and Chinmaya Das, Partment offers a seamless co-ownership solution through its digital platform and smart booking system. Users can sign up via the app, schedule a consultation with an expert to explore available properties, and receive full support in purchasing a share of their chosen unit.
“The PropTech market in the region lags behind more developed markets. Middle Eastern investors spent $5.2 billion on European real estate in 2019, which makes establishing our brand in the Middle East a huge plus before expanding to Europe,” Nadim said in a statement in 2022.
Egypt was chosen as Partment’s launch market due to its strategic position between the Middle East and Europe. The country is the third-largest travel destination in the MENA region, with $13 billion in travel receipts, according to Partment estimates.
In addition to providing a co-ownership model, Partment handles end-to-end property management, allowing users to book stays through a smart system. Unlike traditional timeshares, which grant ownership of a designated time period, Partment offers actual equity in the property, combining ownership with flexible booking options for greater investment control.
While the real estate sector is showing strong growth, the integration of PropTech has become central to this transformation. Companies like Nawy, BirdNest and Partment are at the forefront of this movement, pushing the boundaries of what is possible and reimagining the future of property transactions in Egypt.
