BaytMisrEgypt

Company Brief

Bayt Misr for Real Estate Services: PropTech Startup, the First Digital Mortgage Platform in Egypt licensed from FRA, connecting Buyers, Sellers and Financiers, offering the real estate + financing. Main goal is to facilitate and automate the mortgage financing process online

Product

Bayt Misr has developed the system to leverage technology to provide customers with a great digital experience. Front end state-of-the-art online platform, iOS and Android Application, where buyers and sellers interact smoothly searching and listing properties, including monthly installment search engine along with built-in mortgage calculator. The Front end is supported by a fully automated ERP system to interact with all stakeholders during different mortgage stages.

Target Market

The real estate market in Egypt is one of the largest in the Middle East with a volume of properties currently in transactions exceeding 1.0 million properties. However, it is facing a stagnation due to the large increase in real estate prices along with the decline in purchasing power due to inflation. Although mortgage is quiet the solution (small downpayment and installments up to 30 years), it is not yet common in the Egyptian real estate market due to the difficulty and complexity of procedures, which lead to poor customer service in a complete absence of specialized professional companies / agents providing mortgage services professionally.

Business Model

The business model is based on transaction fees, commissions from buyers, sellers, and mortgage institutions. Average targeted commissions are 1.5% of sales volume.