PropTech, short for "property technology", is a broad term for the many emerging technologies in the real estate sector, such as property management software, smart home devices
PropTech has become an innovative driver of disruptive technology, a solution for real estate professionals struggling with piles of paperwork, and a high-yield asset class for investors seeking opportunities. Over the last decade, real estate technology has evolved rapidly with the emergence of artificial intelligence (AI), augmented reality (AR) and virtual reality (VR)
$12bn
global PropTech market
The PropTech market is expected to grow from $18.2 billion in 2022 to $86.5 billion in 2032, a CAGR of 16.8%.
In the past few years, real estate brokers have increasingly used VR to give prospective buyers virtual property tours. Buyers can view properties from the comfort of their homes and pre-screen their options before visiting in person.
- Shared economy: any PropTech platform that offers shared use of a property, such as short-term rentals. Airbnb and WeWork are among the top players driving the sharing economy i
Key Takeaway
PropTech companies in the MENA region have a chance to capitalise
