ArabFinance: Sakneen, the PropTech company leveraging tech & data to digitise the homebuying experience, has launched an entirely new experience for its users, Sakneen Valuation, the company announced in a statement.
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 sakneen.com, 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.
"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, said.
Our new product will provide users with major insights on their homes and aid in making smarter investment decisions. Egypts resale market is in 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, commented.
Founded in 2020, Sakneen is a real estate marketplace aiming to connect real estate developers and agents directly with prospective homebuyers, mainly through a search engine that allows users to search for homes through filters like down payment, monthly payment, NPV and travel times.
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