Tarek Madany

TBY talks to Tarek Madany, Managing Director of Global Appraisal Tech, about the company’s position in Egypt, assessing quality, and future plans.

What is GAT, and what is its unique position in Egypt’s evaluation industry?

GAT is a leading property valuation firm in Egypt, employing over 50 back-office personnel and seven experts. As the largest local firm in the sector, we possess privileged market intelligence, including information on transactions with prominent entities such as the Sovereign Fund of Egypt and the SCZone. Our experience extends to multi-billion dollar projects across Abu Dhabi, Qatar, Saudi Arabia, and other state-run enterprises. In a market with low levels of transparency, including discrepancies between public data published by CAPMAS and actual market conditions, GAT stands out with its commitment to providing high-quality services and insights through extensive engagements with notable individuals. We observe a lack of maturity in decision-making and conducting feasibility studies, leading to the adoption of unwise, high-risk strategies.

What is GAT’s unique value proposition?

At GAT, we believe in digital transformation and operate on a cloud-based integrated ERP system. This approach enables our employees to work from anywhere and anytime, with KPIs measuring results and processes. This strategy allowed us to thrive during the pandemic, almost doubling in size. We are known as the company our clients can depend on, even during hard times, to deliver on time and accurately. With high demand for our quality services, we were able to command above-average fees and focus on high-end clients that generate more income. This caused our revenue to jump almost fourfold.

With such a diverse portfolio of industries, how does GAT deliver quality and meet timelines and budgets?

GAT has specialized teams and relies on external advisors and sub-contractors in specialized valuations. We have a roster of subject matter experts working on very specialized areas like pharmaceuticals, chemicals, and aeronautics. These experts work for GAT on a project-by-project basis, and we have a standardized process for valuation or a specific aspect that’s particularly technical. We also have a good reputation with external advisors, enabling us to deliver quality services and meet timelines and budgets.

What is next for GAT?

While many multinational valuation firms are keen to establish a base in Egypt, GAT is looking to expand more in the Middle East, particularly Saudi Arabia and Dubai. We aim to capture new opportunities, capitalize on efficiencies with technology and digital transformation, and stay on top. With the Egypt 2030 vision driving much work to do, we remain committed to delivering high-quality services and insights to our clients.

Are there any projects or initiatives in the short term that GAT can comment on?

GAT’s auctioneering division is currently doing great, and we aim to double its growth every year. We also have a contract with multiple multi-nationals such as Vodafone, Pepsico, and ExxonMobil, where we project manage their waste and recycling process. We are in the process of signing up with more multi-nationals to assist them with the process of the disposal of their assets, whether recyclables, waste, or assets like land, buildings, etc. This has the potential to expand rapidly.