Bayut, a prominent real estate platform in the Middle East, commemorates its first anniversary in Egypt this September, celebrating a year of rapid growth and remarkable achievements, Invest-Gate reports.
Since its inception on September 20, 2023, Bayut has made a significant impact on the Egyptian real estate market, offering innovative solutions to property seekers, investors, and sellers.
Expanding on its success in the UAE, Bayut’s entry into Egypt marked a pivotal milestone in its regional expansion. With a core mission to elevate the property search experience, the platform’s substantial growth over the past year underscores its dedication to effectively serving the Egyptian market.
Reflecting on the inaugural year, Yasmeen ElTonsy, Senior Marketing Manager at Bayut, highlighted the platform’s objectives upon entering the Egyptian market. ElTonsy stated, “Bayut has long been a key player in the UAE and broader Middle East. Upon our launch in Egypt, we aimed to introduce a refined, tailored real estate experience for the local market. Our first year has been exceptional in terms of performance, and we are only just beginning.”
The data from Bayut’s inaugural year showcases its increasing influence. By September 2024, Bayut had garnered 412,000 monthly active users, a significant rise from a mere 1,200 in January.
Concurrently, overall online traffic surged from just under 4,000 in March to 575,000 by August 2024, indicating a heightened interest and trust in the platform.
Beyond mere statistics, Bayut has firmly established itself as a trusted entity in Egypt’s competitive real estate sector. The platform’s early emphasis on delivering quality service and a positive user experience is evident in its consistent app ratings, maintaining an average of 4.5 stars over the past year.
Bayut also boasts a prestigious clientele of developers and brokers, showcasing its ability to cater to a diverse array of real estate requirements.
Guy Farhat, General Manager of Bayut Egypt, remarked, “Our first year in Egypt has been exceptionally successful, both in terms of brand positioning and revenue growth. However, it transcends mere figures. Our focus lies in enhancing the property market in Egypt by delivering exceptional services and helping elevate the standard of available properties. We are confident that Bayut will continue to evolve and excel in the years ahead.”