Partment's Proptech Journey and Expansion from Egypt to Greece

Cairo-based property technology startup Partment, specializing in diverse second home co-ownership opportunities, has successfully ventured into the Greek market following an impressive five-fold surge in its market size within Egypt over the past year.

Founded in 2022, Partment offers a streamlined solution for second home co-ownership through its digital platform and intelligent booking system.

Users can now co-own second homes at a fraction of the cost, benefitting from an end-to-end property management service that optimizes property utilization.

After securing $1.5 million in pre-seed funding in October 2022 to enhance its platform infrastructure, Partment has experienced substantial growth, prompting its expansion into the Greek market.

The startup aims to unlock fresh investment prospects, fostering advancements in proptech and real estate globally.

Greece, known for its appeal in real estate investment and recreation, becomes the next target for Partment.

According to the Bank of Greece, urban house prices witnessed an 11.32% increase in the year to Q3 2022, with Athens leading the way with a 13.02% annual house price surge in the same period.

Foreign buyers have also shown increased interest, contributing to a 60.2% year-on-year rise in the total value of real estate purchases during the first three quarters of 2022.

Nadim Nagui, CEO of Partment, expressed enthusiasm about the expansion into Greece, stating, “Our entry into Greece marks a significant milestone in our journey. This expansion aligns with our global vision of enhancing people’s well-being through sustainable second home access, making real estate investments affordable and accessible to all, while driving generational wealth and building modern, diversified portfolios conveniently.”

In a strategic move, Partment has partnered with luxury living company Greca Homes to revolutionize the landscape of second home ownership.

Ahmed Abbassi, founder of Greca Homes, commented on the collaboration, saying, “In partnering with Partment, we’re embracing innovation to simplify second home ownership. Together, we open doors to prime locations, making dream homes more attainable and management seamless. This collaboration marks a new era of opportunities in the Greek real estate market.”

Tom Jackson / Disrupt Africa