ADEER International Egypt has taken its first step into the realm of technological solutions by signing a partnership agreement with Paragon Developments and PMaestro in support of the real estate sector, Invest-Gate reports.

This partnership will establish the PropteX business accelerator fund, which aims to provide technological solutions for real estate in Egypt, Saudi Arabia, the GCC countries, the Middle East, and North Africa. The initial value of the fund is set at $5 mn.

The partnership aligns with the strategic vision of ADEER and Sumou Holding to offer technological solutions for the real estate sector, in line with the future visions of the industry in the Middle East and North Africa.

The PropteX Fund will support startups in digital transformation and real estate service technology in the region, while also providing business development and consultation services to prepare startups for investment.

Eng. Bassel El-Serafy, CEO of ADEER International, emphasized that this partnership presents an opportunity to exchange visions and ideas regarding the future of technology in the real estate sector, particularly in the context of the growing demand for smart and sustainable communities.

El-Serafy expects the new agreement and the PropteX fund to boost investments in digital transformation and real estate service technology.

El-Serafy further elaborated on the company’s plans, stating that they aim to establish a group of companies to manage various projects by 2025. This plan is part of their strategy to increase business volume while ensuring the quality of their products post-operation. They also intend to form alliances with real estate development companies in the Egyptian market and expand into foreign markets, with a particular focus on Saudi Arabia.