It is exceptional how real estate operations have advanced globally to a level where a property can be viewed via virtual or augmented reality, financing options can be browsed and approved online, and finally, a whole property transaction can be safely secured within one click and from the comfort of our own homes. Additionally, smart contracts and blockchain technology are now streamlining the legal and financial aspects of transactions. This technological shift in the built environment is called PropTech, and it is becoming more of a necessity for any business’s survival and success rather than an added value choice. Even economies, at a larger scale, are looking to leverage PropTech and Artificial Intelligence (AI) in everyday real estate operations, knowing that it has a direct impact on attracting investments and driving economic growth.

With that said, the UAE is striving to be the world leader in AI by 2031 and is expanding its efforts to utilise property technology for a more seamless and enhanced user experience. Abu Dhabi, in particular, is among the leading cities in the Middle East and North Africa (MENA) region that have succeeded in driving the PropTech revolution forward by adopting AI and other cloud-based technologies in the real estate sector. The city has been showcasing an unprecedented effort – from the public and private sectors mutually, in enhancing the PropTech landscape by launching its own PropTech innovations as well as attracting top-notch start-up prodigies with various accelerator and incubator programs.

Digital platforms, such as Quanta and Dari, which have recently been launched by the capital’s government, are taking user experience to the next level. These AI and data-driven platforms act as a one-stop-shop for users by simplifying and streamlining their browsing journey. The platforms are also providing access to data and information that would add much more value to investors as they can make informed decisions on their next investment plan, purchase land/properties online in a safe and secure manner, and much more. Furthermore, these new technological disruptions are not only benefiting clients and enhancing their experience, but other real estate players who deploy them, such as landlords and businesses, are also seeing quantitative results from increased user satisfaction and occupier retention. Moreover, brokers and agents are reporting higher satisfaction rates and increased profits as they are closing deals much faster and more conveniently through the automation of procedures.

Another area of focus for PropTech companies in Abu Dhabi is sustainability. With the city’s commitment to reducing its carbon footprint, PropTech start-ups are exploring new ways to make real estate more energy-efficient, from smart home systems to green building materials.

Abu Dhabi is always seeking to make the city a more investor and business-friendly option and improve its investment environment. Therefore, the city is constantly working on deploying new technologies to optimise operations and reduce the various unnecessary layers and complications of real estate processes. Moreover, the government has been working closely with the private sector to attract and invest in the most tech-savvy start-up companies and bring their innovative ideas into motion. Hub71, the government’s own accelerator program and global tech ecosystem, is bringing the city one step closer to its goal of becoming a beacon of technology and innovation. This has been greatly reflected by the total cumulative venture capital amount of USD 1 billion generated by Hub71 since its launch date in 2019.
Overall, PropTech is transforming the real estate market in Abu Dhabi and making it more accessible, efficient, and sustainable. The city is quickly becoming a hub for PropTech innovations and a model for other cities around the world looking to modernise their real estate sector.