When people hear the word, “Dubai”, the first thought that often comes to their minds is its stunning skyscrapers and luxurious lifestyle. Many people associate Dubai with wealth, extravagance, and modernity, as the city has become a symbol of prosperity and progress in the Middle East.
Dubai’s real estate sector has earned the top rating, and it is currently the fastest-growing asset class in the city. To remain competitive and sustain growth, real estate developers need to adopt progressive technologies and cutting-edge tools.
The Dubai Land Department (DLD) announced a record-breaking month in March 2023, with 12,162 real estate transactions valued at AED 34.13 billion (USD 9 billion) – the highest since the beginning of the year. These transactions included 9,588 units, 1,179 buildings, and 1,395 lands, indicating a strong demand for property investment in Dubai.
However, this demand is also accompanied by significant challenges that property investors in face, including the lack of accessibility to live market updates, transactions, and current market insights. Investors also struggle to obtain live valuations of their properties based on current market trends and transactions, as well as customized reports on their return on investments, such as capital gains and cash flow. These challenges have spurred the need for innovation, prompting investors to seek out fast, innovative, and interactive solutions to fulfill their requirements.
Before diving into the startups themselves, it’s important to note the criteria used to select them. The following criteria were used to determine the top five tech real estate companies:
- Having an AVC (Accessible, Valuable, Credible) User Experience and Design
- Mobile and Web Usability
- Access to Live Market Updates
- Instant Customer Service (Example: Live Chats)
- Live Demonstration of the Platform
- Scalability Potential
- Provide a Personal without Conflict of Interest
- Provides a Customized Plan to Scale Your Portfolio
- Access to Monitoring Your Portfolio and Managing Your Properties in One Place
- Fast and Seamless Payment Transactions
Stake
In this 2023 edition, we bring you the top 5 game-changing tech real estate startups in Dubai. Among them is Stake, a proptech startup founded in 2020 with a mission to offer investment opportunities in Dubai to investors globally. You might be wondering if this platform is only suitable for investors with a large portfolio and ample liquidity. However, with Stake, even small investors can receive passive rental income. Stake is a Dubai-based startup that is revolutionizing the real estate investment industry. With their platform, investors can easily invest in Dubai’s lucrative real estate market, regardless of their portfolio size. The startup is focused on making real estate investment accessible to everyone, from small investors to large ones.
Stake making waves in the Dubai real estate industry
Stake is an innovative proptech startup that is making waves in the Dubai real estate industry. Their bold mission to democratize real estate investment is paving the way for investors of all sizes to benefit from the lucrative Dubai real estate market and receive passive rental income. It’s evident that Stake’s platform is highly sought-after in the market, as evidenced by their successful funding rounds. In the same year that they were founded, they raised an impressive $8 million in a pre-Series A round from prominent investors like BY Ventures, MEVP, and Vivium Holdings, which allowed them to expand their portfolio and launch in Saudi Arabia and Egypt. The following year, they raised an additional $4 million. These successes demonstrate the immense potential of Stake and the confidence that investors have in their vision.
Keyper: A Digital Property Manager in Your Pocket
Keyper is a digital solution for real estate management that offers a comprehensive platform enabling property investors to easily manage their portfolio of properties. The co-founder and chief strategy officer of Keyper describes their platform as a digital property manager in your pocket
How Keyper is Disrupting the Real Estate Industry with Technology
With Keyper’s platform, users can claim their property from anywhere in Dubai and have it digitally represented, making it easier to manage and track their investments. Once you claim your property by providing a title deed, it is digitally verified by Dubai Land Department, which then enables you to access a feed of information about your property.
Deep Diver into Keyper Technology
Keyper Technology maps every single property and the units within those properties in Dubai with their respective property details, such as purchase and valuation, and then matches it to the feed coming in through open data from the Dubai Land Department related to transactions, leasing, and mortgages. Keyper Technology immediately gives a live valuation of your property, finding what listings there are of similar properties in the market or properties near yours that are currently being traded or on the market. This provides instant insights where traditionally it would take you days to be aware of this kind of information.
Keyper’s Game-Changing Impact on Dubai’s Real Estate Industry
In November of last year, Keyper was awarded the Property Investment Solution of the Year at the Tech Innovations 2022 Awards. This year, Keyper is planning to launch the financial aspect of the service, allowing landlords to receive payments upfront while tenants can pay easily monthly payments digitally. This solution aims to mitigate the significant burden placed on tenants who traditionally have had to pay the advance upfront with significant margins. Overall, Keyper is changing the game in Dubai’s real estate industry by providing a comprehensive digital solution for real estate management that enables investors to easily manage and track their investments while leveraging technology to provide live valuations and transaction information.
Transforming Real Estate Investment in Dubai with SmartCrowd
SmartCrowd is a digital real estate investment platform that is changing the game for low-income and middle-class families in Dubai. This innovative platform provides the opportunity to buy and sell shares of properties, making it easier for individuals to build financial assets and attain financial freedom. At the core of SmartCrowd’s success is a commitment to trust. Founder Siddiq Farid understood the importance of regulation from the outset, and made it a top priority to ensure that SmartCrowd was based in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority(DFSA) before launching the platform. By doing so, he aimed to make individuals feel comfortable when investing in real estate digitally. Today, SmartCrowd customers can rest assured that their money is secure, even in the unlikely event that the platform becomes non-operational.
SmartCrowd: A Seamless Real Estate Investment Platform in Dubai
SmartCrowd simplifies the real estate investment process in Dubai by sourcing properties from various channels and evaluating them through their proprietary screening criteria. With a funding period of 10-30 days, investors can register on the platform and allocate capital to the desired property. Once the funding target is met, SmartCrowd creates a Special Purpose Vehicle (SPV) registered in the Dubai International Financial Centre (DIFC), making the investors shareholders of the SPV. This seamless process provides a hassle-free investment opportunity for individuals looking to invest in Dubai’s lucrative real estate market.
SmartCrowd: Empowering Individuals with Direct Ownership in Dubai Real Estate through Technology
SmartCrowd utilizes technology to differentiate itself from traditional investment options by empowering individuals with a sense of direct ownership. Unlike investing in a fund with no idea where your money is allocated or how returns are generated, SmartCrowd allows users to select specific properties they wish to invest in and become shareholders through their digital real estate investment platform. This proprietary technology streamlines the investment process and reduces the barrier to entry for low-income and middle-class families to build financial assets and attain financial freedom through real estate investment.