Misr Real Estate Asset Management has signed a cooperation protocol with the Belmazad platform to conduct public digital auctions, becoming the first real estate company in Egypt to adopt this approach. This partnership represents a significant step towards enhancing the services offered to clients and maximizing the value and returns of its real estate portfolio. Maha Abdel Razek, CEO of Misr Real Estate Asset Management, announced that the company will launch its first digital auction in early 2025. This move aligns with Egypt's Vision 2030, which prioritizes digital transformation as a key driver of economic growth. Digital auctions will increase efficiency, transparency, and speed, allowing a longer participation window to attract a broader range of clients, both domestically and internationally, thereby maximizing returns and improving customer service. Abdel Razek emphasized that the collaboration with Dazam, the owner of Belmazad — the first digital platform specializing in offering and selling real estate assets through digital auctions — will streamline auction management. This innovation will reduce costs, minimize paperwork, and ensure fair pricing in the auction process. She also highlighted Misr Real Estate Asset Management's commitment to continuously evolving its operations through digital systems and launching new electronic services to stay aligned with modern information technology. These initiatives are aimed at enhancing operational efficiency, reducing costs, and improving service quality. Misr Real Estate Asset Management is a subsidiary of Misr Insurance Holding Company, which is part of the Sovereign Fund of Egypt for Investment and Development. The company manages one of the largest real estate portfolios in Egypt, primarily located in prime areas across various governorates. This portfolio includes hundreds of properties, many of which feature exceptional architectural designs in the heart of Cairo and Alexandria, making them integral to Egypt's historical and cultural heritage. With a large client base of both tenants and property owners, the company recognizes the importance of continually improving its services and updating its operations through advanced technological solutions.
