Egyptian Proptech Sakneen Launches New Algorithmic Pricing Tool
On a mission to digitise the homebuying experience in Egypt, Cairo-based property tech startup, Sakneen, has introduced a new innovative algorithmic pricing tool that is set to shake up the real estate industry. Across a number of compounds in Cairo, users will have access to a map of homes with their estimated market values, cost-to-finish, rental potential and numerous other important data points that factor into the home-buying process, starting from the decision-making. Essentially a virtual real estate map, the ‘Sakneen Valuation’ tool will be free of charge for all users, putting more power and knowledge in the hands of buyers.
Powered by more than 30 data points aggregated from various sources including land cost, transaction data history, location and even satellite information, the tool leverages the power of algorithms to estimate the market value price of the property.
“We strongly believe in the power of technology to add value to the real estate industry and what we have achieved with our new features is only the beginning of many more tech-enabled solutions from Sakneen,” Hussein El Kheshen, CTO and co-founder of Sakneen.
Along with this new novel tech solution, Sakeen is currently launching a string of major projects in compounds across 6th of October City, with further expansion planned for East Cairo, Downtown and the North Coast. This ambitious undertaking is part of Sakeen’s broader vision of covering all of Egypt’s major compounds and new developments.
The Y Combinator-backed startup currently operates a marketplace for selling and renting homes as well as offers its user a digital lending experience powered by Contact, Egypt’s first specialised consumer financing company.