PropteX Accelerator Debuts with $5M Fund for MENA Real Estate Tech

A consortium of leading real estate and technology companies has announced the launch of PropteX, a new accelerator program supported by an initial $5 million investment fund aimed at advancing property technology (PropTech) startups across the Middle East and North Africa.

The alliance brings together Paragon for Real Estate Development (Egypt), Adeer International (Saudi Arabia), pmaestro (Egypt), and German co-founding partner QNTF. The program will be operated by Startup Factory, pmaestro’s startup enablement arm, and is designed to help early-stage PropTech companies reach investment readiness and scale their businesses.

A Strategic Push into PropTech

PropteX seeks to stimulate economic growth by accelerating innovation in the regional real estate technology ecosystem. The $5 million fund will be deployed to support startups focused on digital transformation and PropTech solutions across Egypt, Saudi Arabia, the GCC, and the wider MENA region.

In addition to capital, participating startups will gain access to business development support, strategic consulting, and market guidance to help them compete and grow in an increasingly dynamic real estate landscape.

Advancing Smart and Sustainable Communities

The initiative aligns closely with Paragon’s strategy of developing smart, technology-driven cities. Paragon is recognized for building intelligent commercial properties that integrate Internet of Things (IoT) solutions to optimize lighting, air conditioning, and operational efficiency—achieving energy savings of up to 60% while promoting environmentally sustainable workplaces.

The company also emphasizes community-centric commercial developments, integrating services that enhance employee well-being and create more efficient, stress-free work environments.

Leadership Perspectives on Regional Growth

Executives from the partner organizations highlighted the accelerator’s role in shaping the future of real estate technology in the region.

Basil Al-Serafi, CEO of Adeer International, described PropteX as a strategic entry point into the technology space, noting that the initiative opens the door for collaboration and idea exchange around smart and sustainable real estate solutions.

Bedier Rizk, CEO of Paragon for Real Estate Development, emphasized the program’s importance in strengthening regional PropTech innovation, expressing confidence in its ability to accelerate adoption across MENA, starting from Egypt.

Mohamed Mounir El-Ahwal, CEO of pmaestro, underscored the growing urgency of digital transformation in real estate, stating that PropteX reflects pmaestro’s broader vision to enable corporate and startup growth through technology across Egypt and the Arab world.

Source: Entarabi