With over 5 million rental homes and a combined value of over $1 trillion in the region, the Middle East has one of the fastest-growing real estate industries in the world. So naturally, this has caught the attention of many investors worldwide.
The downside, these investors usually do not know where to start, and real estate agents are often challenged to find the best properties that would be most suitable for their clients. The lack of workarounds in this process has often led people to make rushed decisions or none at all.
Building the first ever Multi Listing Solutions in the Middle East
To resolve this problem, Egyptian real-estate expert Ahmed Elbatrawy has partnered with CoreLogic to build the region’s first-ever Multiple Listing Solutions (MLS).
The MLS platform will connect potential homebuyers to listings in Egypt, Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar by utilizing cutting-edge algorithmic technology. In addition, it will serve as a medium for property buyers, investors and renters to connect with real estate brokers and developers.
Elbatrawy’s MLS will also make it simple for buyers to get everything they need, from tax information to title documents and establish value for all the neighborhoods to show activity in the area.
“This is not just a platform to visit; we are creating a whole business model that will change the real estate business in the [entire] Middle East,” says Elbatrawy.
In addition to a comprehensive database of properties, the platform also offers a range of valuable resources and tools to help users make the most informed decisions possible. From mortgage calculators and advice on the best time to buy or rent to insider tips on the latest upcoming neighborhoods, the platform has everything buyers need to find the best property in the Middle East.
“With multi listing solutions, you can also browse through listings of properties in their area and schedule viewings at times [that are] convenient for them. With this convenient tool, they will be able to see all the properties that interest them without having to work around someone else’s schedule,” says Ahmed.
Elbatrawy got the idea of creating the platform after years of working as a top real estate software developer, realtor, entrepreneur, and one of the first people in America to work the online lead technology for the real estate business.
“When I visited Egypt, I realized that the real estate here is large but unregulated. So I wanted to make a platform that would fix that. This will be the biggest multi-listing platform in the region that will revolutionize the real estate market, help the property owners earn more, and help the users find the best home for them,” says Elbatrawy.
He moved to America 30 years ago after growing up in Egypt, where he pursued an international real estate career. His resume includes successful deals worth millions of dollars in Orlando, Cairo, Beverly Hills, and Saudi Arabia.
With his exponential success in the industry, having sold countless high-valued properties, Elbatrawy says that the MLS will be the most trusted source for accurate and up-to-date listings for properties across the region and will help governments, brokers, and developers extra generate billions of dollars in extra real estate transactions.
Opinions expressed by CEO Weekly contributors are their own.