Belmazad announced the signing of a strategic partnership agreement with EGYLEASE — a subsidiary of the Industrial Development Bank (IDB) — to maximize the utilization of certain assets owned by EGYLEASE through auction sales on the Belmazad platform.
The collaboration comes as part of both companies’ efforts to enhance the digital asset sales ecosystem and expand their client base for online auctions.
The agreement was signed by Mr. Mahmoud Farahat, CEO of Belmazad and Mr. Ehab Anas Elwogoud, CEO and Managing Director of EGYLEASE. The signing ceremony was attended by Omar EL Dewey, Founder Belmazad; Mr. Ahmed Abbas, Head of Auctions at Belmazad; and Mr. Ahmed El-Shamy, Head of Business Development at EGYLEASE.
For his part, Mahmoud Farahat, CEO of Belmazad, stated, “The signing of this agreement marks an important step toward supporting digital transformation in the auction and electronic asset sales sector, particularly for assets owned by financial leasing companies. Through this strategic partnership, we aim to offer a more transparent and efficient sales experience that enables companies and institutions to maximize the value of their assets.”
He added that the partnership will begin with four buildings owned by EGYLEASE in various locations, which will be listed on the Belmazad platform in preparation for auction. He emphasized that the platform provides an integrated digital environment that ensures the highest levels of transparency and easy access to listed assets.
He explained that Belmazad is developing integrated digital solutions in line with Egypt’s ongoing digital transformation, noted that the collaboration with EGYLEASE reflects the confidence major financial institutions have in the platform’s efficiency and its ability to manage sales and auction operations with high professionalism.
Omar EL Dewey, Founder Belmazad, said that the company continuously seeks to expand its partnerships with financial institutions and banks to build a fully integrated digital ecosystem for trading various types of assets, in accordance with the highest standards of transparency and governance.
He also revealed that more successful strategic partnerships with major economic entities in the Egyptian market will be announced in the coming period.
He noted that Belmazad is not limited to listing and auctioning assets but also provides a range of innovative digital services that enhance the customer experience.
EL Dewey explained that the platform utilizes artificial intelligence technologies to display assets and offers 3D virtual tours that allow users to explore and navigate buildings realistically before making purchase decisions.
He further added that the platform provides a comprehensive vision for asset utilization by suggesting the most suitable business activities for each property, helping investors make more informed and profitable decisions. The platform features a diverse portfolio of unique assets, including premium land plots in exceptional locations and ready-to-use properties that present genuine investment opportunities for clients.
Mr. Ehab Anas Elwogoud, CEO and Managing Director of EGYLEASE, said, “We are proud to enter this partnership with Balmazad, one of our trusted success partners in the Egyptian market. This collaboration builds on EGYLEASE’s strategy to advance asset management and sales mechanisms through innovative digital solutions that align with Egypt’s digital transformation goals, while enhancing operational efficiency and transparency in all sales processes.”
He noted that this partnership aligns with the company’s strategy to maximize the value of its owned assets—whether through sale or joint development—to ensure the highest possible returns, added that the collaboration with Balmazad serves as a successful model of integration between the non-banking financial sector and the proptech industry.
He further disclosed that that this collaboration creates shared value for both parties and underscores EGYLEASE’s commitment to harnessing digital solutions to better serve clients and enhance the efficiency of asset portfolio management. It also reaffirms the company’s ongoing dedication to expanding strategic partnerships that support and strengthen Egypt’s financial and investment landscape.
Balmazad has firmly positioned itself as one of Egypt’s leading PropTech innovators, offering a transparent, technology-driven digital platform backed by prestigious institutional partnerships—most notably with Banque Misr—and an expanding network of collaborators across the finance and real estate sectors. In addition to public auctions, the platform also curates exclusive portfolios of underutilized assets in partnership with prominent property owners and institutions.
EGYLEASE stands as one of Egypt’s leading non-banking financial institutions and the investment arm of the Industrial Development Bank (IDB). With deep expertise in providing innovative financing solutions that serve multiple economic sectors, the company strives to empower businesses and institutions to expand and invest in new assets — fueling economic growth and advancing development.
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