Egyptian company Nawy broadens its reach in the GCC prop-tech sector through the acquisition of Dubai-based SmartCrowd.
Egyptian proptech startup Nawy has made a strategic move into the Gulf Cooperation Council (GCC) market by acquiring a majority stake in SmartCrowd, a Dubai-based fractional real estate investment platform regulated by the Dubai Financial Services Authority (DFSA).
The acquisition follows Nawy's successful Series A funding round of $52 million, supplemented by an additional $23 million in debt financing, aimed at accelerating regional expansion and scaling operations. SmartCrowd, founded in 2018, has facilitated over $110 million in property transactions and distributed more than $40 million in returns to investors worldwide, representing over 130 countries.
The acquisition marks Nawy's first strategic move into the GCC, providing immediate access to the Gulf market without the lengthy process of building a new platform. SmartCrowd's model allows individuals to invest in real estate via regulated fractional ownership, enabling users to acquire shares in income-generating properties starting from as low as $150.
By integrating SmartCrowd's fractional investment platform, Nawy now offers a comprehensive real estate tech ecosystem across MENA. This includes Nawy Shares for fractional real estate investment, Nawy Now for home financing solutions, Nawy Unlocked for after-sales support services, and Nawy Partners for B2B brokerage tools and services.
Nawy's CEO, Mostafa El-Beltagy, described SmartCrowd as a natural fit, complementing Nawy’s data-driven approach to real estate tech, enabling a technology-powered, cross-border property ecosystem. SmartCrowd’s CEO, Riz Ahmed, referred to the acquisition as transformative, helping SmartCrowd transition from startup to scale-up and become the go-to real estate investment platform in the Middle East.
The move signals a trend among African proptech companies to scale regionally via acquisitions, combining rapid innovation with Dubai's stringent regulatory environment to build trust and compliance. With this acquisition, Nawy has strategically positioned itself as a leading pan-MENA proptech platform, providing regulated fractional property investment services while expanding its footprint across GCC countries with a full-stack real estate technology ecosystem.
Nawy was founded in 2019 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El-Beltagy. The company has grown into Africa's largest real estate technology company and is now set to make its mark in the GCC market with the acquisition of SmartCrowd.
The acquisition of SmartCrowd by Nawy will extend their investment portfolio into the technology-driven real estate industry, allowing them to offer fractional ownership opportunities in the GCC market. This strategic move follows Nawy's successful Series A funding round, with investments from finance sectors aimed at scaling operations regionally.
By integrating SmartCrowd's platform, Nawy is now Positioned to provide a comprehensive real estate tech ecosystem, including fractional investment, home financing, after-sales support, and B2B services, across MENA and the GCC. This combination of innovation and Dubai's regulatory environment is a trend among African proptech companies, aiming to build trust and compliance while expanding regionally.
