ACUD launches 1st business incubator in real estate

This came during his participation in the round table organized by Invest-Gate under the title “Proptech Innovations Shaping the Future of Real Estate.”

According to Abbas, this move aims to provide companies with the best solutions and methods, making their work in property technology effective and beneficial.

“Property technology represents one of the main pillars that will contribute to shaping the future of urban development in Egypt,” Abbas said.

He also noted the importance of using technology effectively to develop a property database that will provide all the information and numbers, allowing the proper understanding and analysis of properties and factors affecting their value and usage.

He added that it will also allow foreign investors, developers, and clients to make decisions more rapidly.

Abbas explained that all properties inside the New Administrative Capital (NAC) are coded and that the company is collaborating with the Ministry of Justice to assign national identification numbers to these properties.

“Property technology represents the key to achieving sustainability and meeting the needs of the developed communities, and it is a main pillar in developing the NAC as a smart city based on innovation and technology,” he said.

Abbas announced that the ACUD company’s total and net profits in August reached EGP 26 billion and EGP 17 billion, respectively.

Egypt has nine business incubators that provide 670 business opportunities to start-ups.