UAE PropTech Market Competition, Forecast and Opportunities, 2028

UAE Proptech Market is anticipated to register a high CAGR in the forecast period of 2024-2028. PropTech is a term used to describe property technology that is based on emerging information technologies to help consumers and businesses conduct real estate research, acquire, sell, and manage their properties. PropTech employs digital innovation to satisfy the expectations of the real estate business with IoT Security. Buyers, brokers, lenders, and landlords are just a handful of the numerous participants in the real estate sector that PropTech technology aims to connect and update. The UAE is the first country in the middle east to abandon the oil-based economic development paradigm in favour of tourism, retail, construction, real estate, and high-value-added sectors such as aviation, space, environment, and technology. Recognizing that entrepreneurship, creativity, and innovation will play an essential part in the government's quest to increase economic diversity, the government arranges hundreds of programms, acceleration, and incubation centers to attract top talents and enterprises on a worldwide scale. (DIFC, Dubai Future Foundation, District 2020) Dubai and Abu Dhabi, which have the most sophisticated entrepreneurial ecosystems, are also home to many VCs (Venture Capital), family offices, and private equity companies. Proptech technology includes software for virtual reality that allows website visitors to visually tour residences, software for reporting problems, software for distributing rent payments, and software for crowdsourcing new real estate developments. Technology is a new sector, and the convergence of technologies, cloud computing, and digital transformation are driving the PropTech business dramatically. PropTech technology is being introduced to increase efficiency, personalise property management, and minimize the cost and resources involved in real estate transactions, which will most likely assist the UAE Proptech sector.

Increasing Reliance on a wide range of cutting-edge technology-based real estate solutions and services

Advances in IoT and related use cases in data collection and analysis have provided a significant boost to data-driven decision making. Any industrial, commercial, or residential setting may be automated so that data on water and energy usage, movement and occupancy, and machine health and productivity can be gathered and analyzed. The residential sector of the Proptech industry has grown significantly. Decision-makers who want to boost productivity, ensure health and well-being of workers, and have a positive impact on the environment can benefit from this information.

The construction and real estate sectors in the UAE are fragmented, with many enterprises relying on informal ties. This industry has the potential to be automated by start-ups. To address the slow acceptance of digitization, a variety of measures may be employed. One of these is to provide short-term subscriptions as a starting point rather than an entire purchase. Another example is offering trials and pilots to illustrate how a product or service works. Because of its rapid growth, the Proptech solutions and services are in great demand in the UAE.

UAE Proptech Market Challenges

The first impediment is the industry's growing digital and data culture. Despite the risks, firms that do not innovate inevitably fail. This will prevent UAE proptech companies from developing and prospering. As a result, the sector's growth and productivity will continue to deteriorate. Because of the rising entry of venture capital and entrepreneurs into this business, inventors and entrepreneurs will migrate to other industries, limiting the Proptech market's development.

Market Segments

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.

Market Players

Major market players in the UAE Proptech Market are Savills Middle East, Huspy Mortgage Broker, Houza.com Limited, Propertyfinder FZ-LLC, Zamzama Property Group, Unissu Ltd, StellaStays Inc, Stake Properties Limited, Nomadhomes and Silkhaus.

Report Scope:

In this report, UAE Proptech Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

UAE Proptech Market, By Solutions:

• Business Intelligence
• Facility Management
• Portfolio Management
• Real Estate Search
• Asset Management
• Enterprise Resource Planning
• Others

UAE Proptech Market, By Applications:

• Residential
• Multi-Family Housing
• Single Family Housing
• Others
• Commercial
• Retail Spaces
• Office Spaces
• Others

UAE Proptech Market, By Deployment:

• On-Premises
• Cloud

UAE Proptech Market, By End Users:

• Housing Associations
• Real Estate Agents
• Property Investors
• Others

UAE Proptech Market, By Region:

• Dubai
• Abu Dhabi
• Sharjah
• Rest of UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in UAE Proptech Market

Available Customizations:

UAE Proptech Market with the given market data, the publisher offers customizations according to a company’s specific needs.

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