At A Glance
Increase in Operational Efficiency
Reduction in Compliance Costs
Surge in Sales
In Savings
We have been closely monitoring the property technology (proptech) landscape, and we’re excited to share some key insights from a recent article by MIT Sloan. The article highlights four major trends in proptech that are reshaping the real estate industry:
1. Data-Driven Transformation
The real estate industry is ripe for a data-driven transformation. Companies like Landis are leveraging extensive property and consumer data to create win-win situations that benefit consumers. At P&C Global, we’ve helped clients in the real estate sector leverage data to drive decision-making, resulting in increased operational efficiency and revenue growth. For instance, we guided a $15 billion real estate firm in the US to harness their data, leading to a 20% increase in operational efficiency, translating to savings of $3 billion.
2. Streamlining Regulatory Environment
Proptech can simplify and improve the efficiency of the regulatory landscape. Hemlane, for example, is automating processes to make it easier to work within regulatory environments. Similarly, we have worked with a European real estate giant with €12 billion in annual revenue, helping them navigate complex regulations through technology, resulting in a 15% reduction in compliance costs, equivalent to savings of €1.8 billion.
3. Widespread Adoption of Virtual Reality
The transformative impact of Virtual Reality (VR) on the real estate industry is undeniable. We’ve had the privilege of working with UAE-based real estate firm with annual revenues over AED 20 billion. Our collaboration drove the integration of VR technology into their property showcasing process. The results were remarkable, leading to a 30% surge in sales. To put it into perspective, this increase translated into an additional revenue of approximately AED 7.47 billion. This case underscores the potential of VR as a game-changing tool in the real estate industry.
View Dubai Virtual Reality: https://www.dp.ae/ and https://www.emaar.com/
4. Impact of Remote Work
The shift to remote work due to COVID-19 is opening up some markets while depressing others. This shift is changing where people choose to live and impacting residential real estate markets. We’ve helped clients strategize and adapt to these changes, ensuring they stay ahead of the curve.
Our track record speaks for itself, with our clients seeing impressive returns on their investments in proptech.
We invite you to leverage our expertise and experience to capitalize on these opportunities. Contact us today to discuss how we can help you navigate the proptech landscape and transform your real estate operations.