Marking the company’s first step into technological solutions, ADEER International Egypt has signed a new partnership agreement with Paragon Developments and PMaestro to support technological solutions in the real estate sector, Invest-Gate reports.

The partnership includes establishing a business accelerator fund, PropteX, providing technological solutions for real estate in Egypt, Saudi Arabia, the GCC countries, the Middle East, and North Africa, with an initial value of $5 mn.

Moreover, the partnership aligns with ADEER and Sumou Holding’s strategic vision to provide technological solutions for the real estate sector, which aligns with the future visions of the real estate sector in the Middle East and North Africa.

Furthermore, PropteX Fund supports startups in digital transformation and real estate service technology in the Middle East and North Africa. It also works on developing businesses and providing consultations for startups, preparing them for investment.

“This partnership is an opportunity to exchange visions and ideas about the future of technology in the real estate sector, especially in light of the trend towards establishing smart and sustainable communities,” said Bassel El-Serafy, CEO of ADEER International.

Also, Bedeir Rizk, CEO of Paragon Developments, stated, “We are proud to participate in supporting the PropteX program, which fosters innovation and advancement in the real estate technology industry in the region. We believe in the importance of building smart and sustainable communities, and we are committed to achieving this by directing investments and support to startups.'”

Notably, Mohamed Mounir El-Ahwal, Managing Director of Pmaestro, expressed his happiness and strong enthusiasm for PropteX in the same context, emphasizing the necessity of having more such programs in Egypt, Africa, and the Middle East. These programs, he noted, would enhance the foundations of creativity and innovation.”