Egypt-based real estate marketplace Aqarmap has launched an AI-generated app in Saudi Arabia, designed specifically for would-be real estate investors.
Aqarmap KSA has teamed up with a number of government bodies, including the General Authority for Real Estate, Ministry of Municipal and Rural Affairs and Housing, and the Ministry of Justice, to provide users with statistics and ratios for off-plan projects, real estate funds, licensed real estate contributions, REIT funds and ready projects.
The app, which focuses heavily on the capital city, Riyadh, will allow users to compare key metrics such as price per meter, price growth and rental return for the previous five users. It will also use AI and statistical algorithms to give performance forecasts for the next five years.
Aqarmap was founded in 2021 by Amad Almasodi and has targeted Saudi Arabia as its first market for international expansion. Its Egypt-based platform currently advertises over 250,000 properties for sale and rent, and offers a number of additional features for customers, such as help in securing financing.