Over the past few years, the rapid adoption of technology in the financial services sector has changed the traditional banking models and led to the emergence and widespread acceptance of mobile banking, biometric banking, and digital wallets, thereby simplifying how consumers bank in today’s day and age. This global transformation of the banking landscape saw the rise of FinTech.
In a similar manner, technology has permeated to the retail, hospitality, manufacturing industries as well, with the property sector being the latest industry to witness a transformation. The convergence of technology and property has wholly transformed the traditional housing market – from property management to marketing, sales to transactions.
Using technologies such as big data and analytics, virtual reality, blockchain, artificial intelligence, 3D printing and drones, the entire property buying, management, leasing, marketing and selling process has been transformed. The various stakeholders involved in the property sector such as, property developers, banks, property management firms, real estate agents, asset management, and facility management companies, etc. are able to harness these technologies and customize offerings to provide the end customer with improved solutions. The impact of technology in the property sector has been such that it has led to the emergence of the term PropTech, which is pegged to be the next game changer after FinTech.
In the Middle East, Dubai has been a frontrunner in adopting technology to offer its citizens a better quality of life and achieve its ambition of becoming the world’s smartest city by 2021. Across all departments within the government, various technologies are implemented to deliver better, faster and more efficient services. In line with this, Dubai Land Department recently introduced the Real Estate Self Transaction (REST) platform that enables the complete digital management of real estate transactions, thereby eliminating paper documents and reducing brokerage procedures.
Against this backdrop, Dubai is set to host the first PropTech conference of its kind in the region on 29-30 October 2018 at Sofitel Dubai The Palm Resort & Spa. Organized by Expotrade Global, the PropTech Middle East 2018 will highlight the technological innovations and digital transformation taking place in the real sector.
In its inaugural edition, PropTech Middle East 2018 is set to attract over 400 senior delegates from the GCC region representing property development, property management, real estate, community management, facility management, asset management and property research & development divisions.
Proptech guru James Dearsley will deliver the keynote address at PropTech Middle East 2018. He commented, “PropTech has been growing in significance globally as the digitization of real estate gathers steam. Investment into the sector has exploded, growing over 160% 2016 to 2017 alone and there is a clear geographical shift. The trends had started in the US and the Far East – 60% of all funding was in APAC – but are now starting to take hold in Europe and the Middle East. Learning the errors of previous companies and seeing which sort of company is successful is only combining to provide the perfect hot bed for PropTech innovation in these newer regions. PropTech in the Middle East is just getting going. The event in October will showcase the very best and provide a further platform for the industry to see the most exciting business models and innovations that will revolutionize the sector in the next 10 years.”
Over 40 industry experts will be participating as speakers and panelists at the conference, highlighting on how technology is influencing the rapid transformation of the real estate industry in the region while emphasizing on the trends and developments witnessed. Over 15 industry experts have already confirmed their participation at the two-day event – Karim Nagaty, Chief Marketing Officer, Dubai Properties; Faisal Ali, Group CIO, Gargash; Craig Plumb, Head of Research – Real Estate/Property, JLL; Joseph Morris, Partner – Head of Capital Markets & Investment Transactions Middle East, Knight Frank; and Ajay Rathi, Group Senior Director, Executive IT Strategist and Business Partner, Meraas; are some of the early speaker confirmations received.
The two-day event will cover the future of the property technology industry with topics on drones changing the face of real estate, proptech transforming the traditional housing market, impact of 3D printing in real estate, and blockchain implementation strategies, to name a few.
The conference will also provide a platform for startup ventures offering solutions in the property sector to participate at the region’s only proptech event. Apart from networking with relevant stakeholders, and showcasing their marquee solutions, the two-day event offers an opportunity to budding entrepreneurs to meet investors, and participate in Startup Competition to stand a chance to win USD $5000.