Aqarmap, a real estate search engine, may expand into other markets in the Middle East, such as Morocco, founder of the company Emad Al-Masoudi revealed.
Al-Masoudi plans to start this expansion near the end of 2016, targeting Morocco market clients in Casablanca, Rabat, and Baraqish.
Residential projects targeting the middle-class are the most successful on the Egyptian market, in both Cairo and Alexandria, as well as other governorates, Al-Masoudi said.
Recent currency problems, especially the erosion of dollar reserves, have created obstacles for the company; nonetheless, Al-Masoudi is working on finding practical solutions to these setbacks.
The Egyptian government is still searching for an appropriate partner to aid development of the New Administrative Capital.
Aqarmap entered the Egyptian market as a key player in May 2011and is currently focused on Egyptian and Saudi real estate markets.