How the UAE’s real estate sector is going ..


How the UAE’s real estate sector is going virtual in a big way – The National

The Covid-19 pandemic has catalysed a new wave of opportunity for every industry around the globe. As the acceleration of the digital continues to disrupt every sector, the applicability of digital solutions across the real estate value chain is becoming increasingly evident.

Compared to the banking, retail and healthcare sectors, real estate is a relative latecomer to the digital arena. However, significant advances have been made since the onset of the health crisis when real estate players were forced to pivot rapidly to overcome the significant challenges posed by the lockdown. As a result, in the irrevocably changed landscape of the “new normal”, the industry is embracing the digital as the only way forward: a recent survey reports that 69 per cent of global real estate owners consider the adoption of technology to be a high strategic priority. As the post-Covid-19 horizon starts to come into view, so-called PropTech solutions – which include intuitive property search apps, virtual property tours, chatbots and transaction automation – are now commonplace, along with advanced customer relationship management tools for enhanced customer targeting and lead nurturing.

The criticality of technology for real estate growth is well recognised by the leadership of Dubai. As part of a