Misr Real Estate Assets Management had a cooperation protocol with the Belmazad platform to initiate public digital auctions, making it the first real estate company to venture into this domain. This collaboration marks a significant step forward in enhancing customer services and maximizing the value of the real estate portfolio as well as the returns generated from it, Invest-Gate reports.

Maha Abdel Razek, the CEO of Misr Real Estate Assets Management, announced that the company plans to launch its first electronic auction in early 2025. This development represents a substantial advancement in the company’s digital transformation efforts, which aim to reshape the auction landscape in alignment with Egypt’s Vision 2030. This vision emphasizes digital transformation as a key driver of economic growth.

The digital auctions promise increased efficiency, transparency, and effectiveness while expediting processes, allowing the maximum possible time for participation from a wide range of clients both within Egypt and abroad. This approach aims to achieve the highest possible returns while providing improved services to clients.

Maha Abdel Razek further noted that this partnership with “Dazam”, which owns the Belmazad platform, will enhance the efficiency of the management costs associated with the auction process, reduce paperwork, and help achieve fair pricing.

She emphasized that Misr Real Estate Assets Management is committed to continuously developing its operational methods through digital systems, establishing various online services to keep pace with modern information technology. This initiative will contribute to improving work efficiency, reducing costs, and enhancing the quality of services offered.

Concluding her remarks, Maha Abdel Razek highlighted that Misr Real Estate Assets Management is a subsidiary of the Misr Insurance Holding Company, which falls under the Sovereign Fund of Egypt for Investment and Development. The company boasts a distinguished real estate portfolio that ranks among the largest in Egypt, primarily located in prime areas across various governorates.

This portfolio includes hundreds of properties, many featuring exceptional architectural designs predominantly found in the heart of Cairo and Alexandria. These properties are integral to Egypt’s historical and cultural heritage. With a sizable client base comprising both tenants and property owners, the company recognizes the necessity of continually enhancing its services and updating its performance through sophisticated technological solutions. The upcoming period is anticipated to witness further technological advancements in service offerings.