Proptech companies to lead the UAE real estate market

Proptech companies to lead the UAE real estate market

- Proptech start-ups have raised more than $100 million in funding in the UAE during the past 5 years

- 2020 saw investments worth $16 million in proptech companies

- The UAE is home to more than 55% of over 200 proptech start-ups in the MENA region, and the number is expected to increase further

Dubai: Proptech companies are creating a strong footing 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, according to a report.

Over the past five years, proptech start-ups have raised more than $100 million in funding in the UAE, according to the Zoom Property Insights.

The Insights data disclosed that $16 million was invested in proptech companies in the UAE during the pandemic, enabling it to grab a prominent spot in the list of most attractive countries for proptech investment. It further noted that Dubai real estate will continue strong upward trend this year, further increasing demand for proptech companies in the emirate.

Ata Shobeiry, CEO of a fast-emerging proptech company ‘Zoom Property’, believes that the prospects for proptech companies in the UAE are very promising.

“The real estate market in the UAE