Cairo, February 14,2024: Marking the Company’s first step into the realm of 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. The partnership includes the establishment of 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 million.
The partnership aligns with ADEER and Sumou Holding’s strategic vision to provide technological solutions for the real estate sector, in line with the future visions of the real estate sector in the Middle East and North Africa. PropteX Fund supports startups in digital transformation and real estate service technology in the Middle East and North Africa, while also working 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 Eng. Bassel El-Serafy, CEO of ADEER International. "The new agreement and the PropteX fund are expected to contribute to boosting investments in the digital transformation and real estate service technology sector."
"We aim to establish a group of companies to manage our various projects by 2025, in line with our plan to increase our business volume, ensuring the quality of its products after the operational process. We also aim to form alliances with real estate development companies operating in the Egyptian real estate market and expand into foreign markets, especially Saudi Arabia. Part of our 2024-2025 plan is to support Egyptian developers in expanding into foreign markets by facilitating the investment process and finding partners and investors to enter into alliances with developers in new markets. We are currently studying many investment opportunities in various areas, including the Fifth Settlement and the North Coast, to start development projects for the group as a real estate developer by 2025," added El-Serafy.
ADEER International Egypt is owned by ADEER Holding Company, A part of the Sumou Holding Group for investments in Saudi Arabia, established in 2008 with the aim of providing a wide range of innovative services in the real estate industry, adhering to international standards across all real estate sectors.
ADEER Saudi Arabia began its operations in 2012, initially focusing on providing integrated real estate solutions. Over the course of more than 10 years, it has achieved numerous accomplishments and record-breaking sales, earning the title of the best real estate company in the Kingdom in 2015 and 2022. Recently, ADEER expanded its operations to the UK market in 2022.
ADEER International Egypt offers services in property portfolio management, sales, leasing, property and asset management, investment, brokerage, and real estate marketing. It has recently announced its entry into the Egyptian market and has plans for development and expansion within this promising market.