Nawy, which was founded in 2016 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, allows customers to search for homes online using specific parameters such as unit size, price, and location.
So far, the company claims to have assisted over 30,000 people in finding their dream homes, and it expects to increase by 300 percent in 2021. It has now received a seven-figure seed investment round led by the Sawiris family office, with Hatem Dowidar and other angel investors participating.
Currently, Nawy aims to use funds to improve its technology, broaden its model to cover a broader range of services, and grow into other regions of Egypt, based on two offices in New Cairo and 6 October City.
“There’s a considerable chunk of time lost from a homebuyer’s end due to the lack of information and transparency, which breeds anxiety within customers. Even more traditional methods, such as push sales from cold calling, are leaving customers more skeptical than ever,” said the startup’s chief executive officer (CEO) Mostafa El Beltagy.
“Nawy is vying to become the leading real estate search engine and platform equipping customers with all the information and insight they need to select a home in Egypt’s top gated communities. This is enabled by our fully integrated model which includes the strongest client service and sales team aiming to serve the customer’s needs, our in-house technology, and seasoned experts and consultants in the real estate domain.”
Onsi Sawiris, head of the Sawiris Family Office, stated in Egypt, “breakneck-speed” prop-technology is emerging.
“Nawy has paved the way for it to be manifested and realised, and I am in full belief of their vision’s viability. Nawy has checked all the quintessential boxes, from acquiring the right team and talent to ensuring their backend is a truly inventive one that is able to deliver a seamless and transparent homebuyer’s journey,” he said.
