UAE Proptech Market is Expected to Grow With the high CAGR in the Forecast Period
The adoption of various cutting-edge technology-based
real estate solutions and services is projected to propel the UAE Proptech Market's
growth.
According to
TechSci Research report, “UAE Proptech Market - By Region,
Competition Forecast & Opportunities, 2018-2028,” the UAE Proptech Market is
expected to register robust growth during the forecast period, 2024-2028. Proptech,
an abbreviation for property technology, refers to the use of technology in
real estate operations, sales, and marketing using techniques such as virtual
reality, online listings, automated payments, and more. Proptech helps real
estate organizations to make data-driven choices, optimize company operations,
manage sales pipelines, and plan marketing campaigns all from a single
platform. Proptech and digital marketing solutions have ushered in a new era of
real estate accessibility for all stakeholders, from developers to purchasers.
Companies who do not accept this transition today will be forced to invest more
resources to keep up with their competition.
Dubai and Abu Dhabi are two
active and well-established cities/markets in the United Arab Emirates. Over
the last decade, both the real estate and construction industries witnessed a
boom. What Singapore established in Asia; they replicated in the Gulf. Real estate and technology are increasingly
coexisting in UAE, which is compatible with the country's recent rise of the
real estate business.
Cities such as Dubai and Abu
Dhabi have made the UAE the financial, social, and economic Centre of interest
in the MENA region, which has a population of over 400 million people. The UAE
is the region's first country to abandon the oil-based economic development
paradigm in favor of tourism, retail, construction, real estate, and
high-value-added sectors such as aviation, space, environment, and technology.
The government, realizing that entrepreneurship, creativity, and innovation
would play a vital part in its path to increase economic diversity, organizes
hundreds of initiatives. The expansion of various property types, including
residential, commercial, hospitality, and building management services, is
driving the present spike in digital technologies. The implementation of smart
property management systems is driving the UAE PropTech Market. With the
support of PropTech solutions, the country's real estate industry is modernizing
its business models and adapting to the demands of a new generation of
clientele. Smart technologies are becoming more prevalent in many aspects of
the real estate industry, including leasing, sales, marketing, and property
management. The local real estate industry is changing, and PropTech technology
is boosting user experience intelligently and effectively.
The infrastructure is growing
along with the requirement for data protection since data is the essential
component for real estate developers. The monthly transactions must be
meticulously kept track of, as well as several significant pieces of
information such as rentals, genuine selling prices, and secondary market
transaction prices. Using PropTech, customers may learn more about the property
and the conditions of the transaction processes. The database may only be
accessed by authorized technology users who are using the supplied credentials
to confirm the legitimacy of the papers. Unauthorized users are not allowed to
access the database under any circumstances since doing so would violate its
integrity restrictions.
Browse over XX market data
Figures spread through 70 Pages and an in-depth TOC on the "UAE Proptech Market"
UAE Proptech Market is divided into Solutions,
Applications, Deployment, End Users, Region and Competitive Landscape. Based on
Solutions, the market is divided into Business Intelligence, Facility
Management, Portfolio Management, Real Estate Search, Asset Management,
Enterprise Resource Planning, Others. Based on Applications, the market divided
into Residential (Multi Family Housing, Single Family Housing, Others),
Commercial (Retail Spaces, Office Spaces, Others,). Based on Deployment, the
market is divided into On-Premises and Cloud, Based on End Users, the
market is divided into Housing Associations, Real Estate Agents, Property
Investors, Others.
Key
market players in the UAE Proptech Market include:
- Savills
Middle East
- Unissu
Ltd
- Stake
Properties Limited
- Huspy
Mortgage Broker
- Zamzama
Property Group
- Houza.com
Limited
- StellaStays
Inc
- Silkhaus
- Nomadhomes
- Propertyfinder
FZ-LLC
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“It is becoming more and more clear that understanding and
effectively applying PropTech solutions will be crucial for operating real
estate businesses in the modern era. With the aid of this analysis of recent
advancements in proptech, startups in UAE may more carefully select their
focus, identify their desired niche, and put the best ideas into practice to
accomplish their goals. PropTech has helped real estate businesses flourish
despite the pandemic, and agents and investors in UAE are expected to remain
interested in cutting-edge technology even after the need for masks and social
distance has faded. The ongoing focus on property technology in future
innovations is predicted to increase over the projection period of 2023-2028.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
UAE PropTech Market By Solutions (Business Intelligence,
Facility Management, Portfolio Management, Real Estate Search, Asset
Management, Enterprise Resource Planning, Others), By Applications (Residential
(Multi Family Housing, Single Family Housing, Others), Commercial (Retail
Spaces, Office Spaces, Others), By Deployment (On-Premises, Cloud), By End
Users (Housing Associations, Real Estate Agents, Property Investors, Others),
By Region, Competition Forecast & Opportunities, 2018-2028,” has assessed the UAE Proptech
market's future development potential and provides data and information on
market size, structure, and projected market growth. The report's goal is to
give current market knowledge and assist decision makers in making informed
investment decisions. Furthermore, the study identifies and analyses emerging
trends, as well as key drivers, constraints, and opportunities in the UAE Proptech
market.
Contact
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