The real estate sector continues to attract technological ideas in management and marketing
The real estate development sector continues to attract more and more ideas and technological innovations with the aim of serving it in gaining income or keeping pace with global developments and access to the best technologies used in foreign markets.
First of all, Bayut Real Estate Payments Company plans to expand abroad during the next phase in the Gulf and Arab markets, as a continuation of its ambitious plan to attract more investment and expand its client base.
Mohamed Al-Saboungy, founder and CEO of Biot Real Estate Payments, said it started with an estimated investment volume of $350,000, with a capital of around £1 million.
He explained – in exclusive statements to Al-Mal – that his capital has increased to around £6 million, especially after establishing partnerships with various entities to facilitate the process of collecting real estate payments for them.
Bayut for Real Estate Payments was founded in 2020 as the first solution dedicated to the management and collection of real estate payments in the Egyptian market in the digital world, and was founded by Mahmoud Al-Saboungy, Khaled Al-Rifai and Mohamed Al-Sayed.
Al-Sabunji added that Bayut Real Estate Payments is in partnership with a Kuwaiti investor who owns a 10 percent stake in the company, stressing that the investor will make it easier for the group to break into the Kuwaiti market in the coming period.
Over the past few days, Misr Real Estate Asset Management Company and Bayut Electronic Software Company entered into an agreement to develop a “mobile application”, according to which automated services are provided to Al-Oula’s clients and enable the collection of rents and all necessary charges and fees, as well as an interactive communication between the company and its customers.
Mohamed Galal, general manager of Misr Real Estate Asset Management, explained that the agreement comes to provide electronic services to traffic users and take advantage of mobile programs to improve and facilitate the rental system.
He added that the partnership aims to change the form of rents in Egypt, by enabling everything related to the tenant’s needs, such as payment of water and electricity bills and electronic payment of rent, and then communication with the landlord.
Al-Saboungy added – in statements to Al-Mal – that the value of the targeted collections from the tenants of the Egyptian “Real Estate Asset Management” units is 150 million pounds per year.
The director of the company stated that Misr Real Estate Asset Management is the largest client with which the company currently operates, emphasizing that Bayut is negotiating with a number of entities and companies that operate on the real estate market in Egypt, and it is assumed that these contracts will be announced in the coming period.
He added that Bayut will in return receive a certain percentage of the collected rents in favor of Misr Real Estate Asset Management, but this is less than the market price, considering that they are public sector entities.
Regarding the company’s plan for the next phase, Al-Sabunji indicated that Bayut intends to expand its client base to include not only companies, but also individuals who own various properties, while penetrating new markets similar to the Gulf countries, including Kuwait and the UAE.
He attributed the reason for the company’s efforts to enter the Kuwaiti and Emirati markets to their similarity with the Egyptian market in the same real estate needs and installment payment system, in addition to expanding those markets to emerging real estate technology companies.
He emphasized that his company is not currently thinking about a round of financing, because its focus is first to get on the ground so that we can enter into more investments that will bring us profit, and then we will move towards the virtual world. .
Bayut for Real Estate Payments seeks to attract more investors within the company, to contribute to its capital, while working to bridge the gap that exists in the real estate sector in the Egyptian market, represented in the management and maintenance of real estate, adopting technological methods to facilitate the payment of all costs related to real estate Management of the relationship between the owner and the tenant or resident.
It is worth noting that Bayut for Real Estate Payments was incubated by the Technology Applications Incubator of the Nile Pioneers Initiative, under the auspices of the Suez Canal Bank.
As for the software company “Blue Tags”, it provides smart technology solutions to service real estate companies in the Egyptian market, as part of the company’s work to keep pace with global technological developments, and in line with the government’s plan for digital transformation in all fields.
Mahmoud El-Sherbiny, Chairman of the Board of Directors of Blue Tags, said that keeping pace with technological developments has become an essential part of the business strategy of every company in all sectors, and especially real estate companies, in search of smart solutions in communicating with their customers and serving to them.
He added that his company offers various smart solutions for real estate companies to achieve more effective communication and provide smart solutions in the marketing of real estate company projects, including a magnetic smart card service for real estate companies, which is a magnetic card that stores all the information about the company’s previous and current projects .
He continued that project data is stored on this card and linked to a certain password to preserve confidentiality and privacy, through which the project is presented and all its data is recorded on it, and this is a smart mechanism that facilitates the marketing of the project. and gives its complete picture in all details, which contributes to support the marketing plans of real estate companies and makes them. It coincides with the tendency of individuals to rely more on technology in all aspects of life.
He pointed out that “Blue Tags” for software offers other different solutions for real estate companies, so that each company chooses what suits its needs and plans that rely on technology in management and communication with customers, all of which are global technology solutions that they support the internal plans of real estate companies and support their communication with customers.