Proptech companies set to drive UAE real estate market

Proptech companies set to drive UAE real estate market

Dubai real estate will continue strong upward trend this year, further increasing demand for proptech companies in the emirate

Published: Sun 26 Feb 2023, 3:40 PM

Proptech companies are gaining grounds and will drive growth in the UAE real estate due to strong start-up ecosystem, government support and high demand for SMART solutions in one of the most promising markets of the world, says a report.

The Zoom Property Insights data disclosed that proptech start-ups across the UAE have raised more than $100 million in funding during the past five years while $16 million was invested in proptech companies in the emirate during the pandemic, enabling it to grab a prominent spot in the list of most attractive countries for proptech investment.

The Insight data further noted that Dubai real estate will continue strong upward trend this year, further increasing demand for proptech companies in the emirate.

“The real estate market in the UAE is growing rapidly, with new developments being built all the time. This creates a huge opportunity for proptech companies to provide innovative solutions to meet the needs of investors, sellers, and end-users,” said Ata Shobeiry, CEO of Zoom Property.

Ata, who believes that the prospects for proptech companies in the UAE are