Egypt: Madinet Masr's investment platform SAFE attracts $6.03mln since launch
Cairo – Secure Assets for Fixed Earnings(SAFE), the real estate investment platform of Madinet Masr Housing and Development, has handled transactions totaling EGP 300 million in inventory value.
SAFE facilitated the sale of more than 5,600 property shares, attracting over 65,000 users within its first six months of operation, according to a press release.
The platform enabled more than 3,500 investors to earn monthly rental yields starting from the month following their investment, with average annual returns of 10%, many of which are linked to the USD exchange rate.
Abdallah Sallam, President and CEO of Madinet Masr, commented: "SAFE embodies our vision for delivering innovative concepts that revolutionize real estate market by pioneering fractional ownership in Egypt. It reflects our strategic ambition to reshape the future of property investment by making it more inclusive, accessible, and digitally enabled."
"As an application, SAFE is a cornerstone of our broader innovation roadmap, supporting our vision to drive financial inclusion and sustainable economic growth through fractional ownership,' added Sallam.
The CEO elaborated: 'As it evolves, the application will continue to empower individuals to build wealth through accessible and smart real estate investment solutions with a robust pipeline of projects valued at over EGP 1 billion expected within its first year.'
Developed by Minka Development and launched under the umbrella of Madinet Masr Innovation Labs, SAFE is among the first companies to apply under the Financial Regulatory Authority's (FRA) initiative to regulate the fractional real estate market.
Madinet Masr recently joined forces with Waheej for Real Estate to establish a real estate development company in Saudi Arabia.
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