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Sakneen launches an algorithmic pricing tool setto change the way people search for homes.

The free pricing tool will provide buyers and sellers with an accurate price estimate to serve as a starting point for negotiation.

Sakneen, the PropTech company leveraging tech & data to digitise the homebuying experience, is launching an entirely new experience for its users. Across specific compounds in Cairo, users can now see all homes on a map, including their own, with estimated market values as well as a number of relevant data points such as cost-to-finish and rental potential.

The Sakneen Valuation is an algorithm-based estimate of the value of a home, reflecting what the property would command in the market today were it to be listed for sale. The algorithm is powered by over 30 data points from multiple sources including land cost, location, historical transaction data and satellite information, as well as inputs from developers’ listing prices.

Sakneen is launching with major projects in the 6th of October area - including Palm Hills, New Giza and Pyramids Heights (with over 3,000 unique units) and will expand to East Cairo, Downtown and the North Coast to cover all major compounds & new developments.

The service will be free for all users who will benefit from a smarter, more enjoyable and fully transparent home search experience. Through, anyone interested in real estate can virtually browse homes with the map as a visual guide and gain a better understanding of the real estate market.

Sakneen is a Y Combinator-backed start-up that aims to transform the way we search for homes. Sakneen’s current offerings include a marketplace for new & existing homes for sale and rent, as well as a digital mortgage lending experience powered in partnership with Contact. The launch of the algorithmic pricing model is a novel tech solution that will equip users with all the information they need to make better decisions.

"Building the marketplace showed us what is missing in how real estate is conventionally sold online. Accurate pricing, quality content, and most importantly location and context are almost entirely absent online and that is exactly what we're looking to address." Ramy Khorshed, CEO & Co-founder

“Our new product will provide users with major insights on their homes and aid in making smarter investment decisions. Egypt’sresale market isin desperate need of context, and homeowners, along with real estate developers,shall benefit from the immense value our new product provides.” Youssef Noureldin, Head of Expansion.

“We strongly believe in the power of technology to add value to the real estate industry and what we have achieved with our new featuresis only the beginning of many more tech-enabled solutionsfrom Sakneen.” Hussein El Kheshen, CTO & Co-founder.


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