Egypt-Saudi Partnership Launches New Platform to Support PropTech Startups
A new platform dedicated to empowering entrepreneurship in the property technology (PropTech) sector has been launched in Cairo through a strategic partnership between Coldwell Banker Commercial Advantage (USA), Modern Solutions, a subsidiary of Prime Group Egypt, and Saudi-based Edafa Venture, according to Zawya.
The initiative comes at a pivotal time for Egypt’s real estate market, which contributes nearly 20% of the country’s GDP, as traditional resale markets face liquidity challenges amid the rapid expansion of new urban developments.
The platform aims to empower early-stage startups offering innovative technology-driven solutions that enhance efficiency, reduce costs, and accelerate decision-making across the real estate value chain.
Applications will be open for 45 days to scalable ideas and early-stage PropTech ventures. A joint committee will evaluate submissions, selecting the most promising startups to receive investment and regional expansion support in the UAE, Saudi Arabia, and Oman.
Mahmoud Farag, CEO of Prime Group Egypt, described the partnership as “a strategic convergence of visions among institutions committed to driving digital transformation at a critical stage for the market.”
Amjad El Tawil, CEO of Coldwell Banker Commercial Advantage, emphasized that “PropTech represents the future of real estate,” highlighting the transformative role of innovation in asset management and investment processes.
This move underscores Egypt’s growing focus on digital transformation and smart real estate solutions, supported by public and private sector initiatives such as innovation incubators and AI-based property valuation systems. Together, these efforts reflect Egypt’s ambition to position itself as a regional PropTech hub for the Middle East and Africa.