Belmazad, a company specialising in online real estate auction management and marketing, has signed a partnership agreement with Cairo Finance, a subsidiary of Banque du Caire, to launch an integrated digital platform for the sale and financing of repossessed real estate assets. The collaboration aims to streamline the marketing and sale of properties from defaulting clients while offering comprehensive financing options for buyers, creating a more efficient and transparent market for secondary real estate assets. Mahmoud Farahat, CEO of Belmazad, said the agreement aligns with the company's expansion strategy and its mission to bridge the leasing and real estate finance sectors through digital transformation. "This partnership will enable repossessed real estate assets to be sold through an innovative, fully transparent process that maximises value for both sellers and buyers," Farahat said. He added that Belmazad will act as Cairo Finance's primary marketing advisor, developing a fully integrated online marketing and sales platform powered by advanced digital technologies. The platform will operate through a two-phase dual-sale system, beginning with an automated "Make an Offer" phase. If the asset remains unsold, it will move to a secure online auction, ensuring fair competition and transparency throughout the sales process. Farahat added that the platform incorporates AI-powered virtual tours, allowing investors to remotely explore listed assets and evaluate their development or investment potential across commercial, administrative, and residential categories. Ahmed Sherif, CEO and Managing Director of Cairo Finance, described the agreement as the foundation of a long-term strategic partnership, with this project serving as a pilot initiative to drive growth and expand the range of services available within Egypt's leasing and real estate finance sector. Sherif noted that the recent decline in local interest rates has made real estate financing more appealing, further supporting demand for the platform's services. He revealed that the platform's first listed property—an administrative building in Mansoura City—will go live within 10 days. The building includes a basement, ground floor, and three to four upper levels, and will be offered either as a single unit or divided into multiple units. Sherif added that the asset's prime location and competitive pricing are expected to attract strong investor interest. Through this partnership, Belmazad and Cairo Finance aim to modernise Egypt's real estate auction ecosystem, leveraging technology to enhance efficiency, accessibility, and confidence in property transactions.
