Egyptian businessman Ayman Mamdouh Abbas has acquired a 10% stake in Egyptian proptech Aqar Exit in a transaction valuing the company at $2M (EGP 100M), according to the announcement.
Aqar Exit facilitates the assignment of property contracts, connecting buyers seeking units at original contract prices with sellers looking to exit installment commitments. The company said it has recorded EGP 9B in transactions since launching approximately two months ago.
Founded in July 2026, Aqar Exit helps financially distressed property buyers transfer their installment-based contracts to new buyers. Sellers can recover amounts already paid without assignment fees, while buyers gain access to units without additional premiums over the original contract prices.
The capital increase will support new product launches and international expansion, particularly into Gulf markets, founder and CEO Dr. Mahmoud Ammar said in an interview with Alarabiya Business.
Aqar Exit is also targeting a funding round of approximately $5M in 2027, with potential participation from investors, businesspeople and investment funds in Egypt and abroad. The company’s next steps will include developing its product offering and testing whether its contract-assignment model can expand across regional real estate markets.
Source: WAYA
