Aqarmap
5 known investors
Aqarmap is an Egypt- and Saudi Arabia-focused online real estate marketplace for buying, selling and renting property.
Also known as Aqarmap Egypt
Founders & leadership
Investors · 5
Also in the syndicate · 2
Company profile
researched Aug 2026Aqarmap operates an online real estate marketplace, accessible via website and mobile apps, that supports buying, selling and renting of property in Egypt and Saudi Arabia. Users can search listings for apartments, villas, chalets, duplexes, buildings, land parcels and commercial stores and storage units, and browse results by photos, price or map. Alongside listings, the platform provides decision-support information including an automated valuation tool, price guides, neighborhood information and an "ask the neighbors" service; the company's brand slogan is "Know more."
The company also runs a research arm, the Aqarmap Research Portal, which publishes an annual real estate market trends report, a report on the impact of COVID-19 on Egypt's property market, a prices portal covering meter prices for Egyptian neighborhoods, and custom studies commissioned by clients. These data-driven studies draw on buyer behaviour on the platform and cover supply and demand analysis, competitive analysis, commercial advisory and brand positioning, and have been produced for real estate developers. Aqarmap is classified in the real estate sector and, per a business-data profile, had an estimated headcount in the 201-500 range and estimated annual revenue of $1M-$10M.
Founding story
Founder and CEO Amad Almsaodi began in online classifieds in 2003, launching goyemen.com, a generalist classifieds portal in Yemen, at the age of 18. Seeking larger markets and a specialization in real estate because of the high asset values involved, he left a corporate role in the United States as a project manager in the ecommerce division at Boeing Aerospace and moved to Egypt. Aqarmap was founded in 2011, originally in Yemen.
Business model
Aqarmap operates a marketplace/portal model in which real estate developers and brokers promote projects and listings to buyers and tenants, with the company reporting lead generation as a core output (more than 200,000 leads per month as of 2018). It additionally offers paid market research: downloadable market reports, a neighborhood price portal, and tailored custom studies for developers.
Revenue is associated with serving real estate developers and brokers through listing and promotional exposure on the marketplace, plus research products including custom studies commissioned by developers. A business-data profile estimates annual revenue in the $1M-$10M range.
Traction
Aqarmap stated it helped sell 17,000 units worth more than half a billion dollars in 2016 and more than 15,000 properties in 2017 worth EGP 12 billion (reported as over $650 million), and that it generates more than 200,000 leads per month. Its research unit says it has served the market research needs of leading Egyptian developers. A business-data profile estimated roughly 354 employees and $1M-$10M in annual revenue.
Latest developments
In November 2023 Aqarmap launched an AI-generated app in Saudi Arabia targeted at prospective real estate investors, extending its activity beyond Egypt. Its research portal continues to publish an annual trends report, a COVID-19 property market impact report, a neighborhood price portal and commissioned custom studies.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Aqarmap has described itself as the largest online real estate marketplace in Egypt, and its founder stated in 2018 that the company was bigger than all its direct competitors combined on relevant metrics despite limited prior funding. It positions itself as a knowledge and information source for buyers rather than a listings-only portal. Peers cited in a business-data profile include Property Finder, Lamudi, dubizzle and Property Monitor.
The company emphasizes value-added information for buyers, including an automated valuation tool, price guides, neighborhood information and an "ask the neighbors" service, plus proprietary market research derived from platform buyer behaviour, rather than competing solely on listing volume.
Technology
Aqarmap runs web and mobile applications with map-, photo- and price-based property search, an automated valuation tool, price guides and neighborhood information services. A business-data profile lists a technology stack including Webpack, Bootstrap, Chart.js, Google Fonts API, New Relic, YouTube, AdRoll and Facebook Pixel. In November 2023 the company introduced an AI-generated app for the Saudi market.
Go-to-market
The company reaches consumers through its website and mobile apps and monetizes via developers and brokers, supported by digital advertising and analytics tooling (including AdRoll, Facebook Pixel, Criteo and Crazy Egg per a business-data profile). Research reports, price guides and custom studies serve as an additional channel to developer clients.
Property buyers, sellers and renters in Egypt and Saudi Arabia on the demand side, and real estate developers and brokers seeking exposure and qualified leads on the supply side; developers are also the buyers of Aqarmap's market research studies.
Geography
Headquartered in Cairo, Egypt, with operations centred on Egypt and Saudi Arabia and offices reported in Egypt, Saudi Arabia and the UAE. The company was originally founded in Yemen and launched a Saudi-market app in 2023.
History
Founded in 2011 by Amad Almsaodi, Aqarmap raised its first investment that same year, with Wamda's Fadi Ghandour participating as an angel investor. In September 2018 the company announced a round from Wamda Capital, KISP Ventures and Raed Ventures, closed several months earlier and topped up with additional capital from a group of regional family offices with real estate holdings; the round was described in coverage variously as an investment and as a Series A. In October 2018 Aya Ashraf, previously Head of Operations Excellence at Jumia, joined as Director of Operations Growth. In November 2023 the company launched an AI-generated app in Saudi Arabia aimed at prospective real estate investors.
Risks & controversies
Founder commentary notes several competitors in the regional property portal space and that fundraising in the MENA region remains difficult despite an improving early-stage ecosystem. GCC markets have been comparatively slower to adopt property technology solutions. Publicly reported funding figures are limited, as the 2018 round amount was undisclosed.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsAqarmap launched an AI-generated app in Saudi Arabia designed for prospective real estate investors.
Aya Ashraf, previously Head of Operations Excellence at Jumia, joined Aqarmap as Director of Operations Growth.
Aqarmap announced an undisclosed amount of funding, described as a Series A, from Wamda Capital (UAE), KISP Ventures (Kuwait) and Raed Ventures (Saudi Arabia), with additional capital from regional family offices with real estate investments. Proceeds were earmarked for strengthening its position in Egypt, growing in Saudi Arabia and entering more markets.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 7
primary sources listed
- Aqarmap Research Portali.aqarmap.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Aqarmap do?
- Aqarmap is an Egypt- and Saudi Arabia-focused online real estate marketplace for buying, selling and renting property.
- Who founded Aqarmap?
- Aqarmap was founded by Amad Almsaodi.
- Who are Aqarmap's investors?
- Aqarmap's investors include RAED Ventures, Wamda Capital, KISP Ventures.