While just every industry is shifting in some way or another, some are actually dignified to undergo significant revolutions. One of such is the real estate industry that has been undergoing enormous changes and explosive growth that conveyed a strong signal that the real estate industry will never be the same again.
The changes have expanded to include the emergence of an unexpected unprecedented number of startups whose innovations are substituting the face of the industry.
Let’s take a look on 5 examples of start-ups that are changing the real estate industry in the Middle East:
SMART CROWD –An online real estate crowdfunding platform. Users can browse through properties on the platform and begin investments. Upon the completion of any project, the profit is distributed among investors. From the company’s end, commission is charged on every investment that is made via its platform while overseeing the whole process and entirely managing the documents related.
DURISE- A Middle East based real estate crowdfunding website offering real estate products to investors. Investors have a broad spectrum of offerings where they get to choose from based upon different variables such as the rate of return, future cashflow payments, detailed financial forecast of the listed property.
LOOKUP.AE- An online platform to discover real estate investment opportunities. The company provides users with the ability to actually browse through properties, compare several projects and gain market data analysis. This platform entails is of prodigious help to property renters too.
BAYUT.COM- A listing portal in Dubai, UAE with a prime focus on empowering home hunters with the necessary pieces of information. It offers real estate search trends, live market prices with a huge archive of thousands of images and floor plans.
PROPERTY MONITOR- An online platform offering assist in real estate data. It helps in providing customers with market data, project and supply tracking database and much more targeting the huge sector of banks, real estate agencies, property developers. With an exclusive possession of a new AI based feature - Automated Valuation Model, this platform helps customers evaluate real estate properties.
Fear of the unknown can be an obstacle but the only approach to overcome this is to actually think of the present opportunities that can be seized. The impact of the massive unpredictable growth in technology will inevitably grow further under the influence of the rising demand for innovation and creativity.
The long-term success of traditional market players will soon depend on their ability to ride the wave and to creatively adapt to these changes.