Egypt’s Nawy Acquires UAE’s SmartCrowd To Expand In The GCC

Egypt-based proptech company Nawy has acquired a majority stake in UAE-headquartered SmartCrowd, billed as the region’s first regulated platform enabling fractional property investments. 

The acquisition, which follows Nawy’s US$52 million Series A round in May 2025, marks its first major step toward entering the broader Gulf real estate market, which co-founder and CEO Mostafa ElBeltagy described as “massive,” with projections reaching $33 billion. 

With SmartCrowd now part of the Nawy ecosystem, ElBeltagy told Inc. Arabia that he sees the integration as a way to both streamline the fragmented real estate experience as well as unlock new opportunities for everyday investors. “Our goal with this acquisition is to build a connected experience that simplifies that journey and makes real estate more accessible, data-driven, and investment-ready for everyday users across the region,” ElBeltagy added. 

According to ElBeltagy, the acquisition of SmartCrowd is more than a market entry tactic for Nawy—it’s also a strategic alignment. “We chose the acquisition route because it gave us a springboard not just into the market, but into a regulated framework with product-market fit and investor trust already in place,” ElBeltagy explained. “SmartCrowd has been a pioneer in fractional real estate investment in the UAE. We saw an opportunity to integrate our broader ecosystem with a player that shares our DNA in terms of vision, technology, and user experience. It was about accelerating time to impact.” 

From SmartCrowd’s perspective, CEO Riz Ahmed told Inc. Arabia that the deal is a natural evolution for his enterprise, rather than an endpoint. “Timing is everything in business,” Ahmed said. “For us, this move wasn’t just about scaling; it represented a strategic evolution. Over the past six years, we’ve built trust, refined our product, and validated a model that makes real estate investment more accessible across the region. But to truly accelerate, we knew we needed a partner who shared our ambition, complemented our strengths, and believed in the same future of proptech that we do. That’s exactly what we found in Nawy.”  

According to Ahmed, partnering with Nawy enables SmartCrowd to scale its technology, enter new markets, and broaden access to fractional real estate investment across the region. He thus described the deal as a pivotal moment in SmartCrowd’s journey, marking its transition from a startup to a scaleup, as the two companies work toward building a leading proptech ecosystem in MENA. 

SmartCrowd, which was founded in 2018, enables users to co-invest in income-generating Dubai properties starting from just $150. To date, the platform has facilitated over $110 million in transactions, exited more than 50 properties, and distributed upwards of $40 million in returns to users from 130+ countries. Its growing suite includes Flip, a product focused on acquiring and renovating undervalued assets, which reported an average return of 30 percent as of June 2025. 

Meanwhile, Nawy, which was founded in 2019, offers a platform that spans several verticals, including Nawy Now for home financing, Nawy Shares for fractional ownership, Nawy Unlocked for asset enhancement services (following its acquisition of Egypt-based property management solutions provider ROA), and Nawy Partners, a B2B brokerage network. SmartCrowd’s integration thus adds a robust investment layer to this stack, tying together discovery, financing, ownership, and resale under one roof. 

However, ElBeltagy noted that Nawy’s synergy with SmartCrowd wasn’t just about product—it was about finding the right partner to accelerate a much larger vision. “Strategically, it just clicked: we saw a chance to link what we’ve built in Egypt with a player that unlocks GCC expansion, not as a side product, but as a core part of our future,” ElBeltagy said. “SmartCrowd was the right fit, they bring a global investor base, and a model that complements Nawy Shares perfectly, and a launchpad to introduce the rest of our services in the market to expand our portfolio and mission to go global.” 

According to ElBeltagy, Nawy focused on solving real user pain and scaling vertically in Egypt—this was how it, between 2022 and 2025, launched key offerings and grew sales by 20x. And that experience puts it in a good position as it gets set to enter the GCC. “With over one million monthly users and $3 billion in gross merchandise value, we’re well-positioned to capture a meaningful share of the Gulf’s $33 billion real estate market by 2030 around solving real customer pain points,” ElBeltagy said. “That ground-up thinking is something we’re carrying with us.” 

With Nawy thus bringing experience from scaling in a complex and fast-moving Egyptian market, ElBeltagy sees the Gulf as a distinct opportunity—one that builds on those foundations, but requires fresh adaptation. “The GCC represents a new growth chapter, one that builds on everything we’ve learned and accomplished in Egypt,” he said. “With a more digitally driven user base, the market dynamics are different, but our approach remains the same: solving real user needs through technology, trust, and execution.”

(From left to right) Nawy CEO Mostafa ElBeltagy and SmartCrowd CEO Riz Ahmed. Image courtesy Nawy.

This ambition is also backed by a broader shift in how people think about real estate investing—one that SmartCrowd has been closely tracking. “We’re seeing a clear shift in how people approach investing, especially in real estate,” Ahmed said. “In the MENA region, affordability and accessibility have traditionally been major barriers to entry. Now, however, there’s a growing appetite for alternative investments, particularly among a younger, digital-first generation that’s priced out of traditional property ownership, but still views real estate as a strong asset class.” 

“People want to invest on their own terms—smaller ticket sizes, diversified exposure, and platforms that are intuitive and easy to use. That’s exactly where fractional investing comes in,” Ahmed continued. “Having pioneered real estate crowdfunding in the region, we’re now seeing the broader market catch up to what we’ve believed all along at SmartCrowd: real estate investing should be accessible, transparent, and designed for the modern investor.”  

Looking ahead, Ahmed believes the region’s proptech landscape is on the brink of transformation—driven by both innovation and regulation. "I expect the space to evolve rapidly. Proptech platforms are beginning to embrace blockchain-based tokenization, which will fundamentally enhance liquidity, transparency, and cross-border participation. We’ll also see clearer regulatory frameworks that legitimize and support fractional ownership models. This model will likely extend beyond ready residential properties into off-plan and commercial segments. Investor education will improve, and with that, trust will deepen." 

Looking back on the acquisition, both ElBeltagy and Ahmed said the outcome they have since seen for their respective entities was shaped not by valuation or timing, but by a deep alignment of teams and values. “Don’t acquire for headlines, acquire for fit—culturally, operationally, and strategically,” ElBeltagy said. “The numbers are the easy part. The real challenge is integration, making sure you’re not just buying a company, but aligning people, products, and purpose.” 

This alignment, ElBeltagy added, doesn’t happen by chance, though. “In our case, we spent months aligning with SmartCrowd on vision and integration strategy before signing,” he said. “When looking to acquire or partner with another entity, there must be shared values, complementary strengths, and clarity on how the acquisition fits your long-term roadmap. Don’t assume that synergy will happen automatically. It takes real work, clear communication, and a strong transition plan to make it work.” 

SmartCrowd’s Ahmed echoed this sentiment, urging fellow founders to prioritize fit over finance. “First, and I can’t stress this enough, don’t just look at the deal size,” he said. “It’s tempting, especially if you’ve been in the trenches for years, but an acquisition should be about fit, not just finance. These decisions are never easy, and they shouldn’t be. My advice to founders is to look beyond the numbers and ask: Does this partner align with our mission and values? Can they help us scale better or faster than we could alone? Will this be a win for our users and our team?” 

From Ahmed’s perspective, the move was thus not about stepping away—it was about scaling up with the right partner. “We saw an opportunity to amplify our impact, stay true to our mission, and deliver even more value to our users. But that only works if there’s deep cultural and strategic alignment. You need to be crystal clear on your long-term vision and brutally honest about what it will take to get there.” 

Ahmed also emphasized the importance of purpose and alignment in any acquisition. If the deal unlocks real value, he said, it’s worth pursuing—but not at the expense of core values or long-term vision. “Take the time to ask hard questions,” he said. “Surround yourself with experienced advisors who’ve been through it before. A well-timed and well-aligned acquisition can become a powerful catalyst. But you’ve got to be thoughtful, honest, and unwilling to compromise on what matters most.” 

Pictured in the lead image are, from left to right, Nawy CEO Mostafa ElBeltagy and SmartCrowd CEO Riz Ahmed. Image courtesy Nawy.