logo
Nawy, the largest proptech in Africa, raises a $52M Series A to take on MENA

Nawy, the largest proptech in Africa, raises a $52M Series A to take on MENA

Zawya12-05-2025
Cairo, Egypt — Nawy, Africa's largest proptech platform, has raised $52 million in Series A equity funding to scale its operations, enhance its technology stack, and accelerate regional expansion. The round was led by Partech, with participation from e& Capital, March Capital Investments (MCI), Verod-Kepple Africa Ventures (VKAV), Endeavor Catalyst, Development Partners International (DPI) Venture Capital via the Nclude Fund, VentureSouq (VSQ), Outliers, HOF Capital, and Plug and Play and MENA's leading alternative investment firm, Shorooq.
In addition, Nawy secured $23 million in debt financing from some of Egypt's largest banks and financial institutions, dedicated exclusively to fueling the company's rapidly growing mortgage offering.
Founded in Egypt in 2019 by Mostafa El-Beltagy, Abdel-Azim Osman, Ahmed Rafea, Mohamed Abou Ghanima, and Aly Rafea, Nawy has rapidly grown into Africa's largest real estate technology company. Its platform transforms how people buy, sell, invest, finance, and manage properties. Nawy's expanding product portfolio includes Nawy Now ('Move Now, Pay Later' mortgage financing), Nawy Shares (fractional ownership), Nawy Unlocked (property finishing, asset management, and rental monetization), and Nawy Partners (empowering brokerages with exclusive tools, tech-driven sales enablement, and enhanced commissions).
The company closed 2024 with more than $1.4 billion Gross Merchandise Value (GMV) and a monthly user base exceeding one million. Over the past four years, Nawy's revenue in U.S. dollar terms has grown more than 50-fold, even as the Egyptian pound lost 69% of its value.
Nawy by the Numbers (2024):
$1.4B+ Gross Merchandise Value (GMV)
1M+ monthly users
50x revenue growth in 4 years in USD despite 69% EGP devaluation
In just four years, Nawy has not only scaled massively, it has consistently outperformed the market, setting a new benchmark for growth in real estate.By scaling fast and adapting even faster, the company turned volatility into momentum and built one of the most resilient growth stories in MENA proptech.
' This investment is a major leap forward—fueling our expansion, accelerating the transformation of our products using AI, and starting our mission to reinvent how real estate works across MENA and beyond,' said Mostafa El-Beltagy, Co-Founder and CEO of Nawy.
A Full-Stack Ecosystem for Real Estate
What began as a listings platform has grown into a full-stack ecosystem reshaping how real estate works in the region. Today, Nawy's product lines include:
Nawy Now – A licensed mortgage solution offering faster approvals and 'Move Now, Pay Later' flexibility.
Nawy Shares – Egypt's first off-plan fractional ownership product, opening up premium real estate investment to a broader audience.
Nawy Unlocked – Nawy kicked off 2025 with the acquisition of ROA, a home finishing and asset management platform. The business has been rebranded as Nawy Unlocked, helping owners refurbish, monetize, and rent out idle or unfinished units to unlock asset value.
Nawy Partners – A B2B platform enabling 3,000+ brokerages to close deals smarter with full visibility on the market's live inventory, direct access to developers, tech-driven sales tools, better commissions & flexible payouts.
Each product tackles a different real estate friction point, from buying and financing to investing, asset management, and brokerage enablement. Together, they form a connected ecosystem that empowers users at every stage of the property journey and positions Nawy to scale seamlessly across the MENA region.
Positioned for Regional Growth
The MENA region is rapidly emerging as one of the world's most promising real estate markets, driven by rapid economic growth, increasing urbanization, and a young, tech-savvy population. With ongoing investments in infrastructure and real estate development, the region is seeing growing demand for both residential and commercial properties, creating substantial opportunities for investors looking to capitalize on one of the most dynamic markets in the world.
With its Series A investment, Nawy is scaling its vision to reshape the real estate experience across Egypt, the wider MENA region, and beyond, using technology to bring transparency, accessibility, and efficiency to an industry long overdue for change.
The new capital will be used to:
"We're excited to support Nawy as they build the foundation for a modern, tech-driven real estate experience,' said Tidjane Deme, General Partner at Partech. 'Their team has deep market insights, coupled with ambitious regional expansion plans and exceptional execution, positioning them as the clear proptech champion in Africa and the Middle East.'
A Turning Point for Real Estate in MENA
This round marks more than just a funding milestone, it signals the rise of a new real estate infrastructure built for today's buyer, broker, and developer. Nawy is leading the charge to digitize the industry, unlock liquidity, and bring trust, speed, and transparency to a historically fragmented sector.
About Nawy
Nawy is Africa's largest proptech company, transforming real estate across the MENA region with cutting-edge technology. With AI-powered search, expert in-house brokerage, and innovative financing solutions, Nawy simplifies property transactions for consumers, brokers, and developers alike. Its growing portfolio includes Nawy Shares, Nawy Now, Nawy Partners, and Nawy Unlocked where it enhances accessibility, transparency, and efficiency. Nawy's vision is to play an integral role in every real estate transaction, driving innovation and shaping the future of the industry..
LINK: https://www.nawy.com/
About Shorooq
Founded in 2017, Shorooq is a multi-dimensional investment firm. Our venture capital and credit practice invests in the most innovative technology companies across the MENA region and beyond. We have built deep sectoral expertise in fintech, platforms, software, and deep tech. Shorooq has backed category leaders such as Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo.
Shorooq was built on the values of building with founders and identifying attractive returns for investors. We pride ourselves on a local presence across the UAE, Saudi Arabia, Egypt and Korea.
Visit us at www.shorooq.com
Shorooq refers to a group of companies that are affiliates of each other and which operate under this business name, of which Shorooq Partners Ltd (regulated by the ADGM Financial Services Regulatory Authority FSRA FSP: 190004 as a category 3C Fund Manager) is a member.
Media Contact::
Tarek Fouad
Chief Marketing Officer, Shorooq
Shorooq Group Press: press@shorooq.com
Direct: tfouad@shorooq.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saudi Arabia announces new property ownership law
Saudi Arabia announces new property ownership law

Arabian Business

time7 hours ago

  • Arabian Business

Saudi Arabia announces new property ownership law

Saudi Arabia has published the full details of its property ownership law for non-Saudis in the official gazette Umm Al-Qura on Friday, following Cabinet approval earlier this month. The law will take effect 180 days from publication and replaces previous foreign property ownership legislation issued under Royal Decree No. M/15 in 2000, the Saudi Gazette reported. The legislation grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet. Non-Saudis can own property in Saudi Arabia under new law published in official gazette These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to controls and restrictions based on location, property type, and usage. Ownership remains prohibited in certain locations and regions, particularly in Makkah and Madinah, except under conditions for individual Muslim owners. The law states that all real estate rights that were legally established for non-Saudis prior to the regulation taking effect will be preserved. The Council of Ministers — upon a proposal by the Real Estate General Authority and with the approval of the Council of Economic and Development Affairs — will define the allowable zones for foreign ownership and set upper limits on ownership percentages and durations for usufruct rights. Foreign individuals legally residing in Saudi Arabia may own one residential property outside restricted areas for personal housing purposes. This provision does not apply to Makkah and Madinah. The regulation includes provisions for corporate ownership. Non-listed companies with foreign shareholders, as well as investment funds and licensed special-purpose entities, will be permitted to acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership supports operational needs or employee housing. Listed companies and investment vehicles may also acquire property in line with Saudi financial market regulations. Diplomatic missions and international organisations can own premises for official use and residence of their representatives, subject to Foreign Ministry approval and reciprocity conditions. Non-Saudi entities must register with the competent authority before acquiring property. Ownership or real rights become valid only after formal registration in the national real estate registry. The law introduces a real estate transfer fee of up to 5 per cent for transactions involving non-Saudis. Sanctions for violations include fines up to SAR10 million and, in cases such as falsified information, the forced sale of the property with proceeds remitted to the state after deductions. A committee under the Real Estate General Authority will be formed to investigate violations and impose penalties. Decisions of this committee can be appealed to the administrative courts within 60 days. The law repeals a prior rule that prohibited GCC citizens from owning property in Makkah and Madinah, standardising rules for all non-Saudi entities under a single framework. The executive regulations, which will detail implementation mechanisms and specify geographic boundaries and conditions, are expected to be issued within six months.

Foreigners owning property in Saudi: The rules you need to know
Foreigners owning property in Saudi: The rules you need to know

Gulf Business

time8 hours ago

  • Gulf Business

Foreigners owning property in Saudi: The rules you need to know

Image: Getty Images/ For illustrative purposes Saudi Arabia has officially published the full text of a new law regulating real estate ownership by non-Saudis, following cabinet approval earlier this month. The legislation, released in the Umm Al Qura official gazette on Friday, July 25, will come into effect 180 days from publication and marks a significant shift in the country's real estate and investment policy, Read- The new law grants non-Saudis, including individuals, corporations, and non-profit organisations, the right to own property or obtain other real rights within designated zones to be defined by the Council of Ministers. These rights include usufruct (beneficial use), leaseholds, and other interests, but will be subject to geographic and usage-based restrictions. Importantly, all legal property rights held by non-Saudis prior to the law's enactment will remain protected. Key restrictions remain Despite the liberalization, the law maintains a firm stance on property ownership in the holy cities. Ownership remains prohibited in Makkah and Madinah, except under specific conditions for individual Muslim owners. Foreign individuals legally residing in the country may own a single residential property outside restricted zones for personal housing purposes. A central provision mandates that the Council of Ministers, based on recommendations from the Real Estate General Authority and with approval from the Council of Economic and Development Affairs, will designate the permissible zones for foreign ownership. These zones will include limits on ownership percentages and the duration of usufruct rights. Foreign-owned non-listed companies, licensed investment funds, and special-purpose entities may acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership is for operational needs or employee housing. Listed companies and investment vehicles are permitted to own property in line with Saudi financial regulations. Diplomatic missions and international organisations will also be allowed to own property for official use, subject to Foreign Ministry approval and reciprocity. Mandatory registration and oversight Non-Saudi entities must register with the relevant authorities prior to acquiring real estate. Legal ownership or rights will only be recognised following registration in the national real estate registry. To enforce compliance, the law introduces a real estate transfer fee of up to 5 per cent for transactions involving non-Saudis. Violations could incur fines of up to SAR10m, with penalties including forced sales in severe cases such as the use of falsified documents. Proceeds from such sales will be transferred to the state after necessary deductions. A committee under the Real Estate General Authority will be established to monitor violations and impose sanctions. Affected parties can appeal committee decisions to the administrative courts within 60 days. Repeal of previous rules for GCC citizens The new law also revokes a previous ban on real estate ownership by Gulf Cooperation Council (GCC) citizens in Makkah and Madinah, thereby aligning the rules for all non-Saudi individuals and entities under a single legal framework. Executive regulations, including geographic boundaries and implementation procedures, are expected to be issued within six months. The law replaces the previous foreign ownership legislation issued under Royal Decree No. M/15 in 2000.

Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration
Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration

Zawya

time9 hours ago

  • Zawya

Egypt Participates in Drafting and Launching the G20 Development Working Group Ministerial Declaration

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, represented the Arab Republic of Egypt at the G20 Development Working Group Ministerial Meeting held in South Africa. She also participated in drafting and launching the Ministerial Declaration at the conclusion of the meetings. The Ministerial Declaration, issued at the meetings, affirmed that development financing is at the core of shared priorities. It also highlighted the urgent need to enhance domestic resource mobilization, address illicit financial flows, and strengthen the role of multilateral and innovative financing mechanisms. The G20 reaffirmed its commitment to the 2030 Agenda for Sustainable Development, its pledge to leave no one behind, and its enhanced shared responsibility in confronting global challenges and interconnected crises, from debt to global inequalities, climate change, and the SDG financing gap. During her participation, H.E. Dr. Rania Al-Mashat highlighted Egypt's experience in launching the "Country Approaches for Financing Sustainable Development and Climate Action" initiative within the Seville Platform for Action, with the aim of advancing integrated financing frameworks globally. Egypt co-leads this initiative (alongside South Africa, the United Nations Development Programme, the United Nations Department of Economic and Social Affairs, the Organisation for Economic Co-operation and Development, UNICEF, regional development banks, and others). Its objectives include 100 countries implementing integrated financing programs or country financing platforms funded by public, private, and philanthropic sources by 2030. Egypt has already begun joint work with Mexico to understand the mechanism for designing and implementing national platforms. Regarding stimulating large-scale investments, H.E. Dr. Al-Mashat emphasized the importance of allowing the private sector to play an effective role in development financing, improving governance in international financial institutions, and strengthening the United Nations' role in setting global economic rules. She also stressed the significance of debt sustainability and updating the basis for calculating Debt Sustainability Analysis (DSA) to ensure a fairer assessment for developing countries, particularly in Africa, and to support these countries with incentive tools and mechanisms to overcome ongoing debt challenges. In line with the G20 ministers' declaration, which highlights the urgent need to bridge the $4.5 trillion annual SDG financing gap, H.E. Dr. Al-Mashat affirmed the pressing need to expand blended finance and public-private partnerships, and to implement debt-for-development swap programs. She pointed to Egypt's experience, particularly with Italy, Germany, and China, in providing fiscal space for investment in high-impact projects in food security, women's empowerment, environmental protection, and climate change, making it a successful and replicable model. Furthermore, between 2020 and May 2025, Egypt successfully mobilized approximately $15.6 billion for private sector financing from international partners, with $4 billion allocated to the private sector within the Country Platform – the "NWFE" program. Despite the absence of an internationally agreed definition for Global Public Goods, the G20 Ministerial Declaration stressed the urgent need to enable the provision of these goods, along with the importance of taking action to support low-income and developing countries in implementing the 2030 Agenda in accordance with their national priorities and contributing to global well-being. This is what the Development Working Group calls for: enhancing global consensus, research, and cooperation on the protection and provision of Global Public Goods. The Minister of Planning, Economic Development and International Cooperation reiterated in her speech that development financing and investments in essential sectors represent the cornerstone of sustainable economic and social growth and have a direct impact on human well-being and long-term productivity. She confirmed the necessity of achieving a common vision in line with the G20 Ministerial Declaration, through mobilizing long-term and affordable financing and rethinking multilateral cooperation. With over $460 trillion in global assets, the potential to bridge SDG financing gaps is within reach – if countries redirect capital towards inclusive and sustainable priorities. H.E. Dr. Al-Mashat concluded her speech by stating that the outcomes of this Ministerial Meeting must represent the beginning of a practical phase – to translate commitments into tangible progress, moving from policies to practices with strong political will, while ensuring that no country is left behind in our pursuit of a more sustainable and equitable future for all. It is worth noting that the G20 is the premier forum for international economic cooperation and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues. Its membership includes 19 countries plus the European Union and the African Union. South Africa assumed the G20 presidency from December 1, 2024, to November 2025, and is committed to leading the G20 by focusing on people, development, and solutions in a complex global geopolitical landscape. This comes against the backdrop of Egypt's pioneering experience – as a middle-income country – in balancing its national priorities. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store