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Partnership between Paragon Developments, Adeer International and PMaestro to Introduce “PropteX” Program with Initial Investment of $5 Million

Paragon Developments, Adeer International, and PMaestro are pleased to announce the official launch of their partnership program, “PropteX,” along with their German partner, QNTF. PropteX is designed to support PropTech companies in the Middle East and North Africa region.
PropteX focuses on making a significant impact on the real estate sector by developing workspaces and communities, providing resources and guidance for startups to become investment-ready, under the management of Startup Factory, a subsidiary of PMaestro.
With an initial fund value of $5 million, the program aims to accelerate economic growth by supporting startups and fostering innovation in propTech. This investment is contributed by Paragon Developments, Adeer International, and PMaestro, with the goal of catalyzing the growth of propTech companies.
PropteX will provide support for startups in various areas, including digital transformation and propTech, in addition to business development services and consultations. This initiative aligns with Paragon’s strategy of creating smart and innovative cities and buildings that utilize IoT technology to control lighting, air conditioning, and other systems, contributing to energy efficiency and sustainable development.
Eng. Bedier Rizk, CEO of Paragon Developments, commented: “We are proud to participate in supporting the PropteX program, which enhances innovation and advancement in the propTech industry in the region. We believe in the importance of building smart and sustainable communities, and we are committed to achieving this by directing investments and supporting startups.”
He added, “We are excited to be among the key partners of the program and are eager to see positive results from it, impacting the support of startups and accelerating the pace of propTech in the Middle East and North Africa, starting from Egypt.”
Eng. Bassel El Serfy, CEO of Adeer International, commented: “Establishing the PropteX accelerator fund with an initial value of $5 million marks a significant milestone for Adeer International in the field of technological solutions. PropteX, a subsidiary of Adeer International, provides technological solutions for real estate in Egypt, Saudi Arabia, the GCC countries, the Middle East, and North Africa.”
El Serfy emphasized the importance of such programs in fostering innovation and creativity in propTech, especially in the era of smart and sustainable communities. He expressed excitement about the new partnership, which is expected to enhance investments in digital transformation and real estate services technology, through the PropteX program.
Meanwhile, Engineer Mohamed Moneer El Ahwal, CEO of PMaestro, expressed his enthusiasm for PropteX and stressed the need for similar programs in Egypt, Africa, and the Middle East to promote innovation and creativity. He added that the world is rapidly moving towards digitalization, especially in the real estate sector, creating numerous opportunities in Egypt for the growth of companies operating in propTech.
This partnership aligns with Adeer International’s strategic plan to invest in and support startups, providing resources and guidance to develop their capabilities to attract investments. Startup Factory, a subsidiary of PMaestro, will manage the program, and Adeer International aims to establish its own group of companies by 2025-2024 to manage its diverse projects while expanding into foreign markets. Additionally, the company aims to form alliances with real estate development companies operating in the Egyptian market and expand into international markets.

About Paragon:
Paragon Developments has delivered its “Paragon 1” project in the financial district, New Capital City Capital, with 80% of project sales coming from abroad, reflecting the company’s strategic focus on targeting foreigners and expatriates. This move is a serious step towards exporting real estate and enhancing real estate investment opportunities in the Administrative Capital. The company has launched three projects in the Egyptian market covering a built-up area of 120,000 square meters, with plans to reach a developed area of one million square meters by 2025.
About Adeer International:
Adeer International, owned by Adeer Holding Company, is part of the Sumou Holding for Investment, a diversified group established in 2008 to provide a wide range of innovative real estate services to meet international standards in all real estate sectors. Adeer Saudi Arabia began its activities in the Kingdom of Saudi Arabia in 2012, practicing as a company that provides integrated real estate solutions. Over more than 10 years, it has achieved many accomplishments and highest sales, crowned as the best real estate company in the Kingdom in 2015 and 2022, before expanding to the UK market in 2022. Adeer International offers real estate portfolio management, sales, leasing, property and asset management, investment, brokerage, and real estate marketing services. It recently announced its entry into the Egyptian market and has plans for development and expansion within this promising market.
About PMaestro:
PMaestro is an innovation-driven company whose core mission is to support businesses by providing innovative business models and digital transformation solutions. The company was launched in 2017 by a team of distinguished experts to enable and support companies to integrate and participate in the digital economy by providing managerial and technical consulting for managing and implementing digital projects and products. B Maestro aims to help companies adapt to the changing digital world, develop their business models to increase efficiency and effectiveness, and support their operations to become more flexible to achieve the best results.
About Startup Factory:
Startup Factory aims to empower technology-based startups to expand their businesses through a comprehensive experience involving sharing experiences, providing resources, and guidance from distinguished experts in collaboration with a group of leading partners in public, private, and developmental sectors.