Ayman Abbas takes 10% of Egypt's Aqar Exit as contract-assignment platform scales
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The Intro Holding executive chairman has bought a tenth of the proptech platform, which says it has recorded EGP 9 billion of transactions since launching about two months ago and is targeting a $5 million round in 2027.
Egyptian businessman Ayman Mamdouh Abbas, executive chairman of Intro Holding Group, has acquired a 10% stake in Aqar Exit, the proptech platform that transfers installment-based property contracts from sellers seeking an exit to new buyers, founder and chief executive Mahmoud Ammar told Alarabiya Business.
The platform was founded in July 2026 and lets buyers who can no longer keep up installment payments recover what they have already paid by assigning their contracts, while new buyers acquire units at original contract prices without paying premiums above the original amount. Aqar Exit says it has recorded EGP 9 billion in transactions since launching about two months ago.
Ammar said the capital increase behind the stake sale will finance new product launches and support expansion into international markets, particularly the Gulf. The company is also targeting a funding round of about $5 million in 2027 with participation from investors, businesspeople and investment funds.
The model addresses a persistent feature of Egypt's off-plan market, where buyers who fall behind on installments face losing sums already paid while developers must reallocate units. Questions remain over how far developers participate directly in the transfers and how the model would translate to other markets with different contract-assignment rules.