Founded in 2022 by Omar Eldessouky and Mohamed El Khatieb, Seqoon allows users to own shares – between one-eighth and one-half – of a vacation home. The company’s innovative approach breaks down affordability barriers, offering users a seamless and hassle-free way to own pieces of luxury real estate. It raised a US$500,000 pre-seed funding round in October 2022, and since then has expanded across several destinations in Egypt, such as El Gouna and the North Coast. It has now expanded to its first overseas destination, Dubai, in a strategic move it said underscored its commitment to becoming the foremost platform for holiday home buyers in the region. “Dubai’s dynamic real estate market and thriving tourism aligns perfectly with Seqoon’s mission of making property ownership more accessible and enjoyable. We’re thrilled to introduce our innovative model to the vibrant city of Dubai,” said El Khatieb.
Egypt’s Holiday Home Fractional Ownership Firm Expands into the UAE Market
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