Elmawkaa, a well-known construction technology startup, has been acquired by Ayen, a top platform for real estate inspection and appraisal solutions, in a seven-figure deal. Ayen’s growth and expansion journey has reached a turning point with this acquisition, which will open up new markets in the GCC and pave the way for faster growth and a wider range of services for its clients in the public and private sectors.
Engineer Ali Almohsen, Founder and CEO of Ayen, commented, “We’ve achieved a 10x growth rate over the past year, and we are now opening a new investment round as a pre-IPO stage focused on project financing and real estate insurance. Through acquiring Elmawkaa, we will complete our service cycle for clients and unlock new
markets. We are excited to work with this talented team, whose expertise will bring substantial value to our organisation as we continue to innovate and grow. I would also like to thank my partners and employees for their continuous support, which has played a vital role in our success.”
Ebrahem Anwar, CEO of Elmawkaa, expressed his thoughts on the acquisition, saying, “This acquisition is a major milestone in Elmawkaa’s journey. We are deeply grateful to our team, investors, clients, and partners who have supported us from the very beginning, including angel investors, Oqal, Flat6Labs, 500 Global, Hub71, Taqadam, and Injaz, whose support has been instrumental in helping us reach this point. We could not have achieved this success without the dedication and expertise of my co-founders, Mahmoud Habib (CTO) and Mohamed Thabet (CBO), who have been crucial to our accomplishments.”
Ebrahem added, “I look forward to driving change and development in the proptech sector with Ayen across the MENA region, working alongside Engineer Ali Almohsen on Ayen’s pre-IPO investment round. I welcome partnerships with proptech companies in this sector to join Ayen’s vision and journey.”
