North 29 Capital has announced the completion of a strategic investment in Newmark Egypt. The goal is to speed up the development of real estate brokerage services in the Egyptian market by bringing in AI technologies and updating their business model. This move will boost operational efficiency and keep pace with the fast digital transformation happening in the real estate sector. This investment is all about supporting digital transformation and business growth. Ahmed Hamdy, CEO of North 29 Capital Group, shared that this investment is a key step for the company. He explained that this partnership goes beyond just providing funds; it's about rebuilding the real estate brokerage model. They plan to do this by integrating AI-powered sales tools and operational processes, which will help increase productivity and improve customer experience. He added that the agreement also includes launching the "Newmark Partners" franchise platform. This platform aims to expand within the Egyptian market using a scalable business model, which will help the company grow its reach and increase its market share. They're aiming for 50 billion Egyptian Pounds in sales by 2027! Hamdy also mentioned that both companies are targeting annual real estate sales worth 50 billion Egyptian Pounds by the end of 2027. This is part of a strategy to establish Newmark Egypt as one of the top real estate brokerage firms in Egypt. He emphasized that the future of the sector belongs to companies that can combine human talent with technology, data, and artificial intelligence. He pointed out that this partnership is a significant step towards building an innovative real estate brokerage platform that relies on modern technologies for sustainable growth. The deal also highlights the growing trend of real estate companies using AI solutions in sales operations, customer relationship management, and improving operational efficiency. This will support expansion plans and boost the competitiveness of companies operating in the Egyptian market.
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