There was a swift economic rebound seen after the pandemic in the Middle East, which has allowed its property market to boom, along with the relaxed residency rules.
This exponential growth has highlighted some of the value chain gaps that exist in the region’s real estate industry.
These highlight the numerous opportunities available for embracing digital transformation and are capable of shaping just what the market will look like in the next decade.
The real estate industry
The world is changing rapidly due to digitalization, as it is transforming how people consume, work and interact and this also applies to the real estate industry.
Innovative technologies should be harnessed by stakeholders in the real estate industry, such as agents, brokers, developers, property managers and investors for improving reporting capabilities, enhancing data utilization and offering a dependable and unified source of data.
This can assist professionals in prioritizing strategic business objectives, maintaining a competitive edge in the market and delivering a better customer experience.
As far as the Middle East real estate market is concerned, it is growing rapidly and this gives property management companies (proptech) a number of opportunities for providing sellers, investors and end-users with innovative solutions.
One of these companies is Yardi, which has been continuously innovating and has come up with mobile-ready and cloud-based solutions for helping clients in modernizing and streamlining business processes.
The goal is to deliver value at each stage of the real estate lifecycle. In the last 10 years, Yardi has recorded exponential growth in the Middle East.
This has helped it in becoming the top provider of asset, property and investment management software as well as apps for all sizes and types of real estate portfolios and companies.
The cloud-based technology that Yardi has developed is helpful for asset and property managers in driving efficiencies, automating processes and reducing costs.
It also provides business intelligence that can promote strategic decision making and minimize risks.
When Yardi first began in 2012, it just had two employees and just a couple of clients. Today, it has over a 100 clients in the Middle East, and more than 80 dedicated professionals on its team.
The company is committed to supporting and developing software for the real estate industry of the Middle East and has a proven track record across residential, commercial and retail real estate.
The Yardi platform manages almost 90% of theMiddle East’s commercial and retail space. Its solutions are able to keep up with the dynamic nature of the region’s real estate industry.
This is due to their scalability and ability of catering to different real estate requirements. There are a range of functionalities offered by the company.
These include accounting, marketing, property management, maintenance, leasing, CRM, forecasting and more.
It was due to the innovative solutions of Yardithat the Emaar Properties in Dubai were able to make the change from reactive to proactive business planning and were able to make data-driven decisions.
Others that have used Yardi’s innovative solutions include All Futtaim Malls and Qatari Diar, which show that it is truly disrupting the property management and real estate sector.