Ahmed Elbatrawy, CEO and Founder of the Egyptian Real Estate Platform, has called for a technology-driven framework to reorganise Egypt’s real estate market, centred on unified property data, standardised identities for developers and brokers, and real-time access to market information.
Elbatrawy said the sector needs an integrated and neutral technological solution capable of improving the flow of property information, increasing transaction efficiency, and strengthening investor confidence.
He argued that the rapid development of the real estate market, alongside the growing role of social media in property marketing, requires a more structured system for managing information and transactions.
Elbatrawy’s proposed framework would begin with the establishment of a Higher Real Estate Authority, followed by the launch of the Egyptian Real Estate Platform as a Multiple Listing Service (MLS).
According to Elbatrawy, the two entities would form the foundation of an integrated system aimed at addressing key challenges facing the market.
The proposed framework is based on four main pillars: market governance, unified real estate identities, digital tools for industry professionals, and an integrated technological infrastructure.
The first pillar focuses on improving market governance through standardised property information and data, helping reduce discrepancies and enabling market participants to make decisions based on more consistent information.
The proposed system would also include digital instalment contracts, escrow accounts, and standardised contracts to support more structured transactions and improve transparency among buyers, sellers, developers, and brokers.
The second pillar involves creating a unified identification system for the main participants in the real estate market.
Under the proposal, each property would be assigned a unique national identification number, while developers and brokers would each have a unified identification number.
Elbatrawy said such a system could help establish a more organised market database and facilitate the verification and tracking of property information and transactions across the sector.
The third pillar focuses on providing digital tools for real estate professionals, including integrated systems for managing customers, transactions, and commissions, as well as a full customer relationship management (CRM) system.
The proposed framework would also provide a free, fast website and an international IDX system, allowing brokers and other professionals to manage their operations and access customer and market data through digital tools.
The fourth pillar centres on the technological infrastructure supporting the proposed system.
It would include AI-based property valuation, instant verification through QR codes, cybersecurity systems, and connections with banks and insurance companies, alongside real-time access to market data.
Elbatrawy said integrating these technologies into a single system could reduce the time required to access and verify information and improve the efficiency of property transactions.
The proposal also includes connecting Egypt’s real estate market with international markets through LISTA GLOBAL.
Elbatrawy said LISTA GLOBAL is an integrated system developed by E-Systematic for Egypt and is ready for operation. He said the system is designed to provide a neutral and governance-focused infrastructure for the market.
He also stressed that developers would not be represented within the proposed authority, which he said would support the independence of the regulatory framework.
He disclosed that the core objective of the proposed system is to accelerate the flow of reliable real estate information and connect it with different market participants.
Elbatrawy concluded that the main challenge is no longer developing the technological solution, but deciding when to put it into operation.
