Nawy puts ink to paper, Acquires ROA (Image Credits: Launchbase Africa)
Egypt-based proptech platform, Nawy, has acquired ROA, a property management company that has made a name for itself due to its innovative approach to rental development. The acquisition will set a foundation for the launch of “Nawy Unlocked”, a nascent service that will be deployed to transforming underutilized or unfinished properties into income-generating assets. This will set property management on an entirely new path and unlock new revenue streams for property owners.
Since it was founded in January 2023, ROA has built a track record of addressing the issue of underdeveloped properties whose untapped potential represent a critical gap in the real estate market. Most properties owners cannot manage their assets due to a lack of expertise, time, or resources. ROA has been able to fill this gap by offering services that include property renovations, finishing, and rental management, offering a hassle-free experience for landlords.
Africa’s largest proptech firm, Nawy, has now, with the acquisition of ROA, expanded its mission to simplify real estate transactions for buyers, sellers and investors. Nawy will be able to make use of ROA’s capabilities in improving its service portfolio while helping property owners to maximize their investments. Nawy Unlocked leverages on ROA’s trusted services to offer a wide range of services aimed at unearthing the potential of underutilized properties. The service focuses on key areas like:
- Transforming semi-finished, unfurnished, or core-and-shell units into ready-to-rent properties.
- Handling everything from tenant acquisition to rent collection, ensuring a streamlined experience for landlords.
- Utilizing standardized materials and trusted contractors to deliver consistent, top-tier results.
- Offering to cover up to 50% of finishing costs through loans, which are recouped gradually from rental income.
Mahmoud Abdel Maqsoud, General Manager of Nawy Unlocked, comments on the acquisition: “This acquisition represents a significant milestone for Nawy as we continue to innovate and expand our offerings. Through Nawy Unlocked, we combine ROA’s expertise with our commitment to excellence, providing property owners with a comprehensive, hassle-free solution that maximizes the potential of their investments.”
Nawy CEO Mostafa El Beltagy emphasized the transformative potential of the acquisition: “Nawy Unlocked represents a significant leap forward in our mission to revolutionize the real estate industry. By integrating ROA’s expertise into our platform, we’re setting a new standard for property management and rental solutions in Egypt.”
The launch of Nawy Unlocked comes on the heels of the platform’s previous initiatives, such as Nawy Shares and Nawy Now. These initiatives have redefined the real estate landscape by offering innovative solutions designed to meet market needs.
