Real estate technology or “proptech”... in Saudi Arabia at the click of a button

Real Estate Technology, or “PropTech”... In Saudi Arabia, at the Click of a Button

Mohammed Al-Hassami

Technology in the real estate world (PropTech) has become an important part of our lives, and the term “PropTech” is a portmanteau of the words “technology” and “real estate.” Therefore, the General Real Estate Authority in the Kingdom of Saudi Arabia has begun leading the digital transformation in the real estate sector by licensing online real estate platforms, apps, and auction platforms, and has signed an agreement with “PropTech Saudi” to raise the level of knowledge in the field of real estate technology, promote investment in it, empower its presence in the market, and provide platforms for the exchange of expertise.

National efforts have also contributed to facilitating technology through the National Smart Cities Platform launched by the Saudi Data and Artificial Intelligence Authority (SDAIA). With the rapid acceleration of digital transformation, rates of cyberattacks and data breach risks are rising, prompting the Kingdom to place greater emphasis on providing a secure environment for digital data through the Saudi cyberspace.

Thanks to this secure digital environment, there has been continuous technological movement and development in the real estate sector to keep pace with

Saudi Arabia’s Vision 2030, and there is now a challenge and a race for real estate talent among young men and women who recognize the importance of the real estate sector and its impact on the national economy, and who understand that technological changes and transformations across all fields have a fundamental impact on the reality of the real estate sector. They also recognize the importance of technology to users and how digital services have become their preferred choice due to their speed and ease of use.

With this understanding, they have successfully integrated technology into their real estate field and activities, staying ahead of the competition. This technology has contributed to a qualitative leap that has made the real estate sector a more transparent, efficient, and clear digital environment, It transformed traditional methods such as buying and selling, and enriched and improved the customer experience by offering effective solutions that made the process of renting, selling, or buying a property easier and faster.

This technology has provided convenient ways, through real estate platforms, to virtually showcase properties to better meet users’ needs than ever before, It has also led to the creation of a dedicated auction platform that has streamlined sales processes and allowed auction participants to take part without having to attend the auction site, while also enabling them to participate in multiple auctions, such as:

1. – Saudi Auctions Platform.
2. – Al-Dal Auctions.
3. – Mubashir Auctions.
4. – Somtek.

And it doesn’t stop with individuals; some real estate companies have recognized this reality, embraced it, and studied it, incorporating technology into their operations through apps and platforms such as:

1. 🔸Smart cities.
2. 🔸Smart construction, designs, and interactive maps.
3. 🔸Smart homes.
4. 🔸Automation.
5. 🔸Cloud computing.
6. 🔸Virtual reality (VR) headsets.
7. 🔸Interactive 3D models.
8. 🔸Artificial Intelligence.
9. 🔸Aerial Photography Using Drones.
10. 🔸Professional Photography.
11. 🔸Visualization.
12. 🔸Virtual tours with 360-degree photography.
13. 🔸Virtual reality and augmented reality.
14. 🔸Chat reports and real-time conversations with users.
15. 🔸The metaverse and purchasing real estate in the virtual world.

Finally...

The real estate sector is undergoing a rapid technological transformation at the click of a button, thanks to wise leadership that has facilitated, harnessed, legislated, empowered, supported, and established a secure environment that has helped individuals and companies evolve and engage with the sector withhigh professionalism.