The Uphill Trajectory of Property Technology Within the Middle East

Given the state of society today, it would be accurate to assume that industries are shifting toward digitalization. Now, almost every player – from banks to financial institutions, to even real estate – is focused on the concept of transformation and shifting corporate processes toward the direction of a technological revolution. For instance, some developers and solution providers are focused on creating VR experiences to enhance the property-buying experience, while others are continually working on the simplification of the transaction experience through financing and listing verifications. Moreover, there are now metaverse platforms designed to display real estate through the utilization of innovation in the form of AI, AR, and VR to truly commit to user interaction.

With all those things in mind, the inaugural edition of Verve Management’s Middle East Proptech Innovation Summit – which took place on May 23^rd & 24^th at the Waldorf Astoria Dubai Palm Jumeirah – was brought to a conclusion this past week, where 150+ attendees focused on up-and-coming initiatives that set out to transform the concept of real estate and property management. Here, thought leaders and pioneers from globally-renowned corporations such as Nakheel, Majid Al Futtaim, and Betterhomes LLC, set their prime focus on enabling both collaboration and concentration amongst technological integration.

In a world landscaped by apps and social media, it’s evident that property management has taken on a new front, as well. “Technology has helped us uplift the industry to a higher level – maybe even to the most optimal level achievable.” said Nancy Younes – Managing Director at Nationwide Middle East Properties. For instance, AI has not only optimized the financing process but has also made property viewings more efficient. Additionally, Anisha Sagar – Director of PM at Allsopp&Allsopp, mentioned how virtual tours have also enhanced the buying process for a lot of home buyers who are looking into buying property overseas.

Verve Management graciously hosted an array of renowned solution providers who were keen on networking amongst some of the brightest minds in the field: Platinum Sponsor – OpenSpace; Gold Sponsor – Exotel; Silver Sponsor – IWG PLC; Bronze Sponsors – FarVision, In4Velocity, and Mastt; Networking Sponsors – MyGate, NoBrokerHood, Prengi, Property Check, Urbanise, and Cube; and Startup Innovation Sponsor – CoolerShare all made themselves truly present throughout the course of the summit.

“There are a few integral elements where technology is now playing at the forefront, and technology is creating a very positive impact.”, said Dounia Fadi – Managing Director at eXp Realty Dubai. All in all, the Middle East Proptech Innovation Summit was a platform graced by thoughts and insights from some reputable leaders, focused on one goal – to embrace innovation driven by continual technological advancement.

Isha Surve (isha@verve-management.com)

Marketing Executive

Verve Management UAE