Egypt MLS Unveils Digital Trading Doorway

Egypt MLS Unveils Digital Trading Doorway

Egypt MLS has succeeded in becoming a major shift for the Egyptian real estate industry toward the digitalization era. The company prepares to launch a real estate trading digital platform through its IDX technology, named “” The trial operations for this technology already started this month. As a result, Egypt MLS managed to put such digital methods on the roadmap of real estate trading globally.

This platform will work according to international MLS technologies, which are an acronym for the multiple listing service that controls real estate trading operations in the United States, Canada, and several European countries.

Accordingly, the Egyptian-American businessman, Ahmed Elbatrawy, the founder of the first Egyptian MLS & CEO E-Systematic has obtained the rights of this technology for the Middle East, and the whole Arab world from CoreLogic California, the most intelligent and powerful software company in the United States, to begin the first steps of its implementation in the Egyptian market.

Invest-Gate succeeded in discussing this technology with Ahmed Elbatrawy CEO of E-Systematic Egypt and the founder of the Egyptian MLS to dive deeper into the new digital platform that the company plans to launch in the local real estate market.

Kindly inform us of the idea behind launching such a platform?

The idea is simply that this digital platform will help transfer all transactions related to the real estate market to an online platform. This platform includes huge data on the market’s parties.

And please note that the U.S. real estate market has become the most widespread and largest selling because of data collection.

The MLS is a platform used by real estate developers, agents, and brokers in the U.S. to share information on properties for sale and find available listings for prospective buyers, which need to be updated periodically.

The MLS technology is an acronym for the multiple listing service that completely controls real estate online trading operations and gathers information on real estate developers, marketers, and governments in one platform. This platform is developed by CoreLogic, based in California, from the U.S., Canada, Mexico, and several European countries, with a turnover of about $1 tn annually.

E-Systematic was established and has obtained exclusive rights from CoreLogic, in the Middle East region in the markets of six countries including Egypt, Saudi Arabia, the UAE, Qatar, Bahrain, and Kuwait. And I am the chairperson of its board of directors and own these rights in Egypt. So, E-Systematic will be responsible for managing and operating the MLS technology inside Egypt.

Two years ago, we began the executive steps to establish the platform, which will be launched experimentally in Egypt in the coming days.

On a side note, the investment volume increased from EGP 200 mn to EGP 1 bn within a few months, and this digital database system will lead to a major shift in the real estate market, and it is Egypt’s dream to enter the era of digital real estate and real estate export. Additionally, it will be a center for issuing the first birth certificate for Egyptian property.

Could you please dive deeper into the platform’s mechanism?

The new digital platform will be inaugurated under the name of Egypt MLS “” It will open registration for real estate development companies, marketing companies, and government agencies. The entry will be for registered companies that have a tax card and a commercial registration. Then, each member will have a name and an identification number that is highly secure and difficult to penetrate.

For listing projects on the platform’s database, it will be open for real estate development companies that own the project, under the condition that the project has obtained ministerial approval, and fulfills all requirements, approvals, and licenses, as well as detailed information attached to the required legal documents.
An example of data related to a property, such as a project name, its location in detail with a map from Google showing it, services adjacent to it, the type of property whether residential, commercial, or administrative, completion position, exact size, number of rooms, space of each room, prices, different payment methods, a commission of marketing company, finishing specifications, and expected delivery dates.

Through our platform, real estate marketing companies can figure out client needs and review available properties in various projects. Moreover, the situation of each unit will be clear whether it is reserved or already sold out so that no other transactions will be done on it.

Here, I would like to note that each property would carry an identification number, it is more like an ID or birth certificate for this property, on which all transactions that take place on it are recorded.

When the contract is completed, this will be documented directly on the system, and trading will be closed on that unit, with all the data related to its value, the name of the project, and other data related to the transaction.

Let me tell you that this platform was an Egyptian dream and a government goal, as it is a first step to documenting real estate wealth in Egypt which can help us improve our economy to a very high level.

What are the conditions needed for a property to be registered on the platform?

We deal in modern or “white” real estate that has not been traded on before, with complete documents, and please note that only the developer will be allowed to list properties, and no client or consumer is allowed to enter any date on it.

At a later stage, maybe after six months, we are planning to launch the second phase of the project, IDX, which will be for market transactions.

What about Listing Under-Construction properties?

The system in the Egyptian market requires dealing with under-construction properties, but under the condition that the developer submits governmental approvals as I explained previously, in addition to specifying in his data the proposed delivery dates, but in case of any delivery delay, the contract between the two parties will be legally enforceable.

How can we utilize the stored data in the platform?

There are information reports will be obtained by developers registered on the system, related to the volume of sales in real-time, as well as reports on customers such as the most interested in buying at present, areas that are more popular than others, and type of popular projects; whether for housing or investment.
Furthermore, our new technology provides data related to the classifications of real estate companies and the best sellers, besides, one of the most important reports that will be issued is related to setting price averages for each unit; whether residential or non-residential within a specific area, which is based on the average selling price of similar properties within a distance of 2.5 square kilometers.

I would like to highlight that Egypt will not be able to sell properties to foreigners except through that platform because it is the communication language that foreign customer understands and enjoys great credibility while using it. We have strong marketable products in the Red Sea, North Coast, the New Administrative Capital, and other areas that receive great interest from foreigners but we do not know how to reach them, nevertheless, this platform is the only way to do that.

Are there any signed contracts? Could you please highlight the most desirable areas?

We are interested in the fourth-generation cities; the North Coast, the New Administrative Capital, the Red Sea, New Cairo, the 6th of October city, and other projects of all kinds, whether residential, commercial, administrative, etc.

We currently have discussions with the government to set up many of its projects. Moreover, agreements have been signed with some real estate development and marketing companies. There are ongoing negotiations with 15 other companies.

However, we believe that within three months of the launch, we will cover a large share of the market, and our main target of the EGYPT MLS real estate platform is to be the main gateway for buying and selling real estate properties in Egypt within a very short period.

What are the main advantages of the MLS platform to the developers?

Real estate investors from all over the world who have access to the EGYPT MLS are awarded one of the greatest benefits in the industry. They will have the largest database of homes for sale, commercial or investment properties, as well as businesses for sale.
If for nothing else, the MLS places the odds in investors’ favor. In addition to having thousands of listings at their disposal, investors may also benefit from the following:

*Easier To Find: those properties listed on the EGYPT MLS are much more accessible to anyone looking for a property in a specific region.

*Accurate Information: homes listed on the MLS are curated by licensed Developers, brokers, and agents, so there is a better chance that the information provided is accurate.


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