Egyptian Website for Real Estate Wins Microsoft Prize
The Egyptian Internet company Encube has won a Microsoft prize for the construction of a website about Egyptian cities (www.misrcities.com) that employs GIS technology to boost the stagnant real estate market in Egypt, The Middle East reported.
Executive manager of Encube Ayman Ayyad was quoted by the weekly as saying that misrcities.com was a launching pad for his company, noting that many more websites were to be created in the near future.
He said that misrcities.com aimed to provide information about the real estate market in new cities and that it was established in cooperation with the Ministry of Housing and Urban Communities.
According to Ayyad, the site provides "neutral" information about the real estate market in Egypt, derived not only from the Ministry of Housing and Urban Communities, but also from impartial real estate experts.
The website is another attempt at easing the stagnation in the sector, he noted. One of the main aims of the website is to attract investments of expatriate Egyptian workers, especially in the Arab countries, to resurrect the market, the paper added.
The website was established according to the latest geographical technology CIS, where prospective buyers can view the apartments of their choice in a short space of time. The website also includes detailed information about each project, as well as statistics and market indicators. People can now easily find a house, shop or a plot of land on the net in little time, he said.
Ayyad added that his company had struck a deal with the Ministry of Higher Education and Scientific Research for the former to establish a website for graduates of Egyptian state-run universities, in addition to a number of e-commerce-oriented websites – Albawaba.com