Belmazad, a company specializing in online real estate auction management and marketing, has signed a partnership agreement with Cairo Finance, a subsidiary of Banque du Caire, to launch an integrated digital platform for the sale and financing of repossessed real estate assets. The collaboration aims to streamline the marketing and sale of properties from defaulting clients while offering comprehensive financing options for buyers. The platform will debut with an administrative building in Mansoura City within 10 days.
Belmazad has announced the partnership with Cairo Finance to create a digital platform focused on repossessed real estate assets, aiming to enhance efficiency and transparency in Egypt's secondary real estate market. According to Mahmoud Farahat, CEO of Belmazad, this agreement aligns with the company's expansion strategy and its mission to bridge the leasing and real estate finance sectors through digital transformation.
Farahat stated: "This partnership will enable repossessed real estate assets to be sold through an innovative, fully transparent process that maximises value for both sellers and buyers." He added that Belmazad will serve as Cairo Finance's primary marketing advisor, developing a fully integrated online marketing and sales platform powered by advanced digital technologies.
The platform operates via a two-phase dual-sale system: an automated "Make an Offer" phase, followed by a secure online auction if the asset remains unsold. It features AI-powered virtual tours, allowing investors to remotely explore listed assets and evaluate their potential across commercial, administrative, and residential categories.
Ahmed Sherif, CEO and Managing Director of Cairo Finance, described the agreement as the foundation of a long-term strategic partnership, with this project as a pilot initiative to drive growth and expand services in Egypt's leasing and real estate finance sector. Sherif noted that the recent decline in local interest rates has made real estate financing more appealing, supporting demand for the platform's services.
The first listed property is an administrative building in Mansoura City, including a basement, ground floor, and three to four upper levels, offered either as a single unit or divided into multiple units. Its prime location and competitive pricing are expected to attract strong investor interest. Through this partnership, Belmazad and Cairo Finance aim to modernize Egypt's real estate auction ecosystem, leveraging technology to improve efficiency, accessibility, and confidence in property transactions.