Misr Real Estate Assets (MREA), under the auspice of Misr Insurance Holding Company (MIHC), signed with fintech startup Boyot an agreement to develop MREA mobile application to provide clients with automated services. The agreement will also allow for the collection of rents and all required expenses and fees, as well as interactive communications between the company and its clients, Invest-Gate reports.
Commenting on the agreement, Basel El-Hini, Chairman of MIHC, says: “The group plays a key role in supporting various investment activities, especially in promising sectors that open new horizons and offer opportunities for startups to help them achieve success and realize their economic ambitions.” “In that context, the group sponsored Forsa program. Through this platform, we have met many promising Egyptian young people that have ambitions in the fields of technology and innovation. The group supported them, as a part of our role as delegates of the state that caters to its young citizens,” he adds.
In a similar vein, Mohamed Galal, Managing Director of MREA, maintains that MIHC leads the path of success in all its subsidiaries and seeks to largely develop their working system based on efficiency and effectiveness through a comprehensive digital transformation plan, which promotes the governance and the competence of property management in a modern and developed manner.
MREA’s application boosts communication with clients through a group of digital services, which adds value to the company’s clients and upgrade the quality and accuracy of real estate asset management, and maximizes investments, Galal noted.
Misr Real Estate Assets (MREA) is a subsidiary of the Ministry of Public Enterprise Sector’s MIHC. MREA has a paid-up capital of around EGP 750 million and owns an exceptional property portfolio considered among the biggest in Cairo, Alexandria, and Port Said. MREA’s portfolio comprises around 556 properties including 171 with an outstanding architectural style which are mostly located in Khedive Cairo and at the heart of Alexandria. MREA has a client base of over 13,000 owners and tenants.
Boyot is among the new promising companies operating in the development of software, systems, and mobile applications. The company has a cloud property management solution. In a short period, Boyot managed to enter into partnerships with a group of banks including the National Bank of Egypt (NBE), Credit Agricole, and Fawry for online payment.