Aqarmap, a leading real estate portal in Egypt and Saudi Arabia, has just announced it has surpassed one million registered users.
The marketplace, populated by ads from developers, brokers, and private sellers, was established in Egypt in 2011 and expanded to Saudi Arabia in 2014.
In 2015, more than 10,000 properties worth US$730 million were sold via Aqarmap.
Amad Almsaodi, CEO and founder, said the company expects this number to pass the US$1 billion mark in 2016 mostly because of the huge amount of data about its registered users to help them find appropriate properties.
“We are thrilled to hit the one million registered users’ milestone as we prepare to take our marketplace to the next level,” he said.
“We understood the value of capturing the users’ data and using it to enhance their experience since we launched. Capturing demographic and socio-economic data in addition to knowing the exact search preferences of all these active buyers has helped us achieve profitability since 2013.”
Almsaodi said there are plans to expand in other Middle East and North Africa markets, but Aqarmap is currently focused on maintaining and growing its current leadership positions.