Report Description

Saudi Arabia Proptech Market is anticipated to grow at a robust CAGR during the forecast period. PropTech refers to property technology that is used to assist people and businesses in doing real estate research, buying, selling, and managing their properties. With IoT Security, PropTech uses digital innovation to meet the demands of the real estate sector. Buyers, sellers, brokers, lenders, and landlords are just a few of the participants in the many phases of the real estate industry that PropTech technology is intended to link and update. Software for virtual reality that enables website users to visually tour homes, software for reporting problems, software for dividing rent payments, and software for crowdsourcing new real estate projects are all examples of proptech technology. Technology is a new industry, and the PropTech market is being significantly driven by the convergence of technologies, cloud computing, and digital transformation. The introduction of PropTech technology aims to improve efficiency, personalize property management, and reduce the cost and resources involved in real estate transactions., which will likely benefit the Saudi Arabia Proptech market.

Increasing use of Numerous Cutting-Edge Technology-based Real Estate Solutions and services

Data-driven decision making has been given a major boost by advancements in IoT and its use cases in data collection and analysis. It is possible to automate any industrial, commercial, and residential environment so that data on water and energy use, movement and occupancy, and the health and productivity of machines may be collected and analysed. The residential segment of the Proptech business has experienced substantial expansion. Decision-makers who are interested in increasing productivity, guaranteeing health and wellbeing, and having a beneficial influence on the environment may use this data to their advantage.

In Saudi Arabia, the construction and real estate industries are fragmented, with many businesses relying on unofficial connections. Start-ups have the chance to automate this industry. Numerous strategies may be used to combat the delayed adoption of digitization. Offering short-term memberships as a starting point rather than an outright purchase is one of them. Another is providing trials and pilots to demonstrate how a product or service functions. As a result of this fast rise, the Saudi Arabia Proptech Market is growing at  a rapid pace.

Saudi Arabia Proptech Market Challenges

The industry's growth of a digital and data culture presents the first obstacle. Although it might be hazardous, businesses that don't innovate eventually fail. This will stop Saudi proptech businesses from expanding and thriving. As a result, the sector will continue to lose ground in terms of growth and productivity.


Download Free Sample Report

Market Segments

Saudi Arabia Proptech Market is divided into Solutions, Applications, Deployment and End Users, region and competitive landscape. Based on Solutions, the market is divided into Business Intelligence, Facility Management, Portfolio Management, Real Estate Search, Asset Management, Enterprise Resource Planning, Others. Based on Applications, the market divided into Residential (Multi Family Housing, Single Family Housing, Others), Commercial (Retail Spaces, Office Spaces, Others,). Based on Deployment, the market is divided into On-Premises and Cloud. Based on End Users, the market is divided into Housing Associations, Real Estate Agents, Property Investors, Others


Market Players

Major market players of Saudi Arabia Proptech Market are Savills Middle East, Darent, Spaceti, StellaStays Inc, Stealth Proptech, Mabaat and Simaat Platform. To achieve good market growth, businesses that are active in the market employ organic tactics such product launches, mergers, and partnerships.

Recent Developments

In March 2022, proptech Watheeq Proptech Venture, together with other investors, launched a pre-Seed round in which Darent raised USD1 million in Saudi Arabia.

Darent is a property management solution for rental properties founded in 2021 by Hanin Al-Subaie that enables owners to publish their apartments on the site, linking them to tenants.

October 2022 - A technological connection agreement has been struck by Simaat, the leading real estate property management platform in Saudi Arabia, and Ejar (rent), a comprehensive system introduced by the Saudi housing ministry as part of its attempts to expand the country's residential market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Solutions

Applications

Deployment

End Users

Regional scope

Western Region, Northern & Central Region, Eastern Region, Southern Region

Key companies profiled

Savills Middle East, Stealth Proptech, Darent, Spaceti, Stella Stays Inc, Simaat Platform, Mabaat,

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, Saudi Arabia Proptech Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

      ·         Saudi Arabia Proptech Market, By Solutions:

o   Business Intelligence

o   Facility Management

o   Portfolio Management

o   Real Estate Search

o   Asset Management

o   Enterprise Resource Planning

o   Others

  • Saudi Arabia Proptech Market, By Applications:

o   Residential

§  Multi-Family Housing

§  Single Family Housing

§  Others

o   Commercial

§  Retail Spaces

§  Office Spaces

§  Others

  • Saudi Arabia Proptech Market, By Deployment:

o   On-Premises

o   Cloud

      ·         Saudi Arabia Proptech Market, By End Users:

o   Housing Associations

o   Real Estate Agents

o   Property Investors

o   Others

      ·         Saudi Arabia Proptech Market, By Region:

o   Western Region

o   Northern & Central Region

o   Eastern Region

o   Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Proptech Market

Available Customizations:

Saudi Arabia Proptech Market with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Saudi Arabia Proptech Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia Proptech Market

4.    Executive Summary

5.    Voice of Customers

5.1.        Awareness of Proptech Service

5.2.        Major Applications of Proptech Service

5.3.        Key Benefits of Proptech Service

5.4.        Key Vendor Selection Parameter

5.5.        Major Challenges in Proptech Service Adoption

5.6.        Key Vendor Challenges

6.    Saudi Arabia Proptech Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Solutions (Business Intelligence, Facility Management, Portfolio Management, Real Estate Search, Asset Management, Enterprise Resource Planning, Others)

6.2.2.    By Applications (Residential (Multi Family Housing, Single Family Housing, Others), Commercial (Retail Spaces, Office Spaces, Others,))

6.2.3.    By Deployment (On-Premises, Cloud)

6.2.4.    By End Users (Housing Associations, Real Estate Agents, Property Investors, Others)

6.2.5.    By Region (Western Region, Northern & Central Region, Eastern Region, Southern Region)

6.2.6.    By Company (2022)

6.3.  Market Map

7.    Saudi Arabia Western Region Proptech Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Applications

7.2.2.    By Deployment

7.2.3.    By Solutions

7.2.4.    By End Users

8.    Saudi Arabia Northern & Central Region Proptech Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Applications

8.2.2.    By Deployment

8.2.3.    By Solutions

8.2.4.    By End Users

9.    Saudi Arabia Southern Region Proptech Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Applications

9.2.2.    By Deployment

9.2.3.    By Solutions

9.2.4.    By End Users

10. Saudi Arabia Eastern Region Proptech Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Applications

10.2.2. By Deployment

10.2.3. By Solutions

10.2.4. By End Users

11. Market Dynamics

11.1.     Drivers

11.1.1. Increasing Demand for Secure Data Supports Market Expansion

11.1.2. The development of smart technologies is propelling market expansion.

11.1.3. The PropTech market will be fueled by AI and Big Data in the next years.

11.2.     Challenges

11.2.1. The merchandise's lack of adoption

11.2.2. Data security and privacy issues.

12. Market Trends & Developments

12.1.        The Number of Small and Medium-Sized Businesses is growing.

12.2.        Due to possibilities, high internet penetration, an increase in middle- and high-income families.

12.3.         Favorable government regulations, the sector has opportunity for growth.

12.4.        The growth of start-ups and small enterprises has been driven by more funding, enabling them to scale up.

12.5.        High IoT and linked device adoption.

12.6.        Using edge computing services more frequently.

13. Porter’s Five Forces

14. Policy & Regulatory Landscape

15. Saudi Arabia Economic Profile

16. Company Profiles

16.1.               Savills Middle East

16.1.1. Business Overview

16.1.2. Key Revenue and Financials (If available)

16.1.3. Recent Developments

16.1.4. Key Personnel

16.1.5. Key Product/Services

16.2.               Darent

16.2.1. Business Overview

16.2.2. Key Revenue and Financials (If available)

16.2.3. Recent Developments

16.2.4. Key Personnel

16.2.5. Key Product/Services

16.3.               Spaceti

16.3.1. Business Overview

16.3.2. Key Revenue and Financials (If available)

16.3.3. Recent Developments

16.3.4. Key Personnel

16.3.5. Key Product/Services

16.4.               StellaStays Inc

16.4.1. Business Overview

16.4.2. Key Revenue and Financials (If available)

16.4.3. Recent Developments

16.4.4. Key Personnel

16.4.5. Key Product/Services

16.5.               Simaat Platform

16.5.1. Business Overview

16.5.2. Key Revenue and Financials (If available)

16.5.3. Recent Developments

16.5.4. Key Personnel

16.5.5. Key Product/Services

16.6.               Mabaat

16.6.1. Business Overview

16.6.2. Key Revenue and Financials (If available)

16.6.3. Recent Developments

16.6.4. Key Personnel

16.6.5. Key Product/Services

16.7.               Stealth proptech

16.7.1. Business Overview

16.7.2. Key Revenue and Financials (If available)

16.7.3. Recent Developments

16.7.4. Key Personnel

16.7.5. Key Product/Services

1.    Strategic Recommendations

1.1.  tech-powered planning processes to boost Proptech market.

1.2.  End-User Market is the Fastest Growing

1.3.  Market Dominance by Region

2.    About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

Main market players are Savills Middle East, Darent, Spaceti, Stella Stays Inc, Simaat Platform, Mabaat and Stealth Proptech.

down-arrow

The major segments of the Saudi Arabia Proptech Market are Solutions, Applications, Deployment and End Users, Region and Competitive Landscape.

down-arrow

The western region is anticipated to see rapid CAGR growth between 2024 and 2028.

down-arrow

PropTech, also known as property technology, is the use of information technology (IT) to the management and purchase of real estate by both people and businesses. PropTech leverages digital innovation to meet the demands of the real estate business, just how FinTech focuses on the use of technology in banking.

profile

Sakshi Bajaal

Business Consultant
Press Release

Saudi Arabia PropTech Market is Expected To Grow with the high CAGR in the forecast period 2024-2028

Feb, 2023

The adoption of many cutting-edge technology-based real estate solutions and services is likely to fuel the expansion of the Saudi Arabia PropTech Market.