We are thrilled to announce that Matouk Bassiouny & Hennawy ("MBH") acted as the legal counsel to Belmazad - Egypt’s first digital public auction platform - in connection with its strategic partnership with Banque Misr, who is the lead investor.

This significant investment supports the Egyptian government's goal of accelerating digital transformation and promoting technology in real estate asset management.

Belmazad will now feature real estate owned by Banque Misr, available for bidding in an open auction.

The MBH team advising on the transaction was led by Mohamed Essam (Partner and Head of Fintech, ECVC) and included Moustafa Rizk (Associate).

Head of Fintech, ECVC, Mohamed Essam, commented saying: “We are proud to have advised Belmazad on this groundbreaking partnership with Banque Misr. This deal marks a significant milestone in the digital transformation of the Egyptian real estate market. By leveraging advanced technology, Belmazad will revolutionize the way real estate assets are managed and auctioned, making the process more transparent and accessible. We look forward to seeing the positive impact this partnership will have on the industry.”

For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.