Egyptian-based Nawy, Africa’s largest proptech company, has acquired a majority stake in SmartCrowd, a fractional real estate platform that enables users to invest in high-yielding Dubai properties, for an undisclosed fee. It stands out as one of the earliest major cross-border acquisitions between African and Gulf proptech firms, signalling a growing trend of African startups expanding into the Middle East and North Africa( MENA) region’s booming property market.
The acquisition follows Nawy’s recent $52 million Series A round and marks its official entry into the Gulf Cooperation Council (GCC) market with member countries like Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, strengthening its position as a regional real estate tech powerhouse. Nawy’s ecosystem now includes platforms for home financing, brokerage, fractional ownership, and asset enhancement, offering a full-stack proptech experience for Middle Eastern markets.
“SmartCrowd’s platform gives us a proven investment engine built on trust, performance, and regulatory strength,” said Mostafa El-Beltagy, CEO of Nawy. “The perfect match for Nawy’s tech-first approach to real estate. Together, we are unlocking a new era of seamless property investment across MENA: data-driven, accessible, and built for today’s digital investor.”
This collaboration is crucial, particularly as the UAE’s real estate investment sector is projected to reach $33 billion by 2030. Currently, Nawy boasts over 1 million monthly users and $3 billion in gross merchandise value. The marriage with SmartCrowd could swell insane profits across key markets in North America and the Gulf region, leveraging tech.
“This is a transformative transaction for SmartCrowd, joining forces with Nawy to build the region’s premier PropTech ecosystem,” added Riz Ahmed, CEO of SmartCrowd. “With strong alignment in vision and culture, this partnership accelerates our transition from startup to scale-up, making us the go-to platform for real estate investment in the Middle East.”
SponsoredIn January, Nawy acquired asset management and home finishing startup ROA, relaunching it as Nawy Unlocked, a key pillar in its upcoming property super-app.
