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ROSHN Hackathon: Innovation in Action

Article-ROSHN Hackathon: Innovation in Action

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It was not just the giga projects that made news at Cityscape Global in Riyadh last month.

While the massive deals announced at the event certainly made headlines around the world, there were promising new proptech ideas taking centrestage at the ROSHN Hackathon competition held during the world’s biggest property show.

The ROSHN Hackathon was conceptualized to provide a platform for innovative ideas tailor-made for the Saudi proptech industry. It gave participants a chance to interact with professional developers, innovative designers, and industry experts to develop novel solutions that have the potential to revolutionize the industry.

INNOVATION CATALYST FOR KSA

The competition sought to enhance the living standards of residents and tenants by providing state-of-the-art digital solutions that suit their individual needs and preferences.

“The ROSHN hackathon goes beyond being an event; it served as an innovation catalyst and a pioneering initiative in the Kingdom,” says Jayesh Maganlal, Group Chief Information and Digital Officer at ROSHN Group.

“It helped draw top talents from local and global domains by offering a collaborative platform for fresh perspectives and ideas. The core aim was to drive proptech innovation by challenging norms and introducing groundbreaking ideas to real estate.

“Ultimately the mission is to nurture great ideas and create a supportive ecosystem for homegrown solutions,” he adds.

“The hackathon was a resounding success, drawing top international and local talent,” says ROSHN Hackathon partner BIM Ventures CEO and Managing Partner Mohamed Amine Merah.

“From a strong field, 16 standout teams emerged, with 4 exceptional winners taking the spotlight. This event not only showcases the burgeoning success and potential of the proptech sector in Saudi Arabia, but also resonates deeply with the forward-thinking goals of Saudi Vision 2030."

ROSHN HACKATHON CHALLENGES

Submissions received by the competition categorised entries based on two tracks - New Venture Ideas and Established Startups. Participants were given three key challenges, including Revolutionizing Software Solutions, to come up with user-friendly, scalable, community driven solutions, and successful software programs that can transform real estate operations and boost general effectiveness and efficiency.

The next challenge asked participants to Introduce Pioneering Products, either by designing and building hardware or physical products that leverage technology to enhance the real estate experience. This challenge called for participants to develop innovative devices or solutions that integrate with properties, such as smart home technologies, energy-efficient systems, security systems, or IoT devices.

Finally, participants were asked to incorporate ideas into their submissions that would lead to the Transformation of Infrastructure and Compliance. Participants were required to come up with solutions that would support community monitoring and reporting as well as utilizing data-driven approaches for compliance solutions.

NEW VENTURE WINNER

An esteemed panel of judges evaluated the submissions, with the finalists presenting their ideas at the ROSHN Hackathon during Cityscape Global. The jury consisted of Dr. Olayan AlHarbi, Advisor to H.E. Vice Minister of Municipal and Rural Affairs and Housing, Saudi Arabia; Jayesh Maganlal, Group Chief Information & Digital Officer at ROSHN Group; Yassen Kattan, Head of Strategy & Corporate Affairs at ROSHN Group; Waseem Khashan, Executive Marketing Director at ROSHN Group; Rayan AlSharif, Partner at BIM Ventures; Khalid Alohali, Customer Engineering Manager at Google Cloud.

After a rigorous review of the presentations, the top prize for the New Venture Ideas was awarded to Team EcoFit. Their groundbreaking project involves a hydroponics solution that aligns with ROSHN’s mission of nurturing vibrant, integrated communities, and a stepping-stone towards a future that resonates with the ambitions of Saudi Vision 2030 and the Saudi Green Initiative.

According to the winning team, “Our overarching goal is multi-faceted: to achieve unparalleled resource efficiency and security in food, water, and energy sectors, while simultaneously prioritizing community wellness, elevating the quality of life, and actively mitigating carbon emissions.

“Through EcoFit, we are not merely redefining the parameters of sustainable living; we are setting a new standard for holistic well-being and environmental stewardship, both within the Kingdom and beyond.”

‘ESTABLISHED STARTUP’ WINNER

Meanwhile, NeoROSHN emerged as the winning team for the Established Startups track. Their project, NeoLocus, is an e-commerce platform for furniture. On receiving their award, the team said: “Being able to work together with such a large enterprise will boost our product immensely and gives us confidence to keep on working hard to deliver the best solution for the market.”

The ROSHN Hackathon competition was supported by BIM Ventures and Google Cloud.

Start-ups and green finance highlighted at Future Urbanism Expo in Dubai

Article-Start-ups and green finance highlighted at Future Urbanism Expo in Dubai

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The third day of the Future Urbanism Expo in Dubai last week featured exclusive interviews with pioneering companies shaping the future of smart cities and sustainable urban development.

PRAGUE SETS THE BAR FOR SUSTAINABLE CITY PLANNING

International radio and TV broadcaster Nadira Tudor interviewed Petr Hlaváček, Former Deputy Mayor of Prague. shedding light on how cities can draw inspiration from Prague's model that prioritises sustainable urban development.

Hlaváček shared key strategies that made Prague a leader in sustainable city planning. Their focus on sustainable transport and green spaces is creating a greener future.

Investing in Future Generations

Prague is investing lots of money into public transportation, public spaces, and green areas. Hlaváček emphasised the importance of this to create affordable, functional cities for future generations. This approach ensures the city's sustainability and livability.

Harnessing Renewable Energy Sources

Hlaváček highlighted how Prague is big on renewable energy and energy efficiency to reduce carbon emissions. He highlighted how the city has begun a project using heating pumps from sewage waste. This project holds the potential to supply at least 40% of the city's required heat. So it plays an important role in the city's commitment to sustainable practices.

HIGHLIGHTING EXHIBITING COMPANIES

Several key companies made their mark at the Expo, showcasing their innovative solutions:

  1. MyGate: MyGate's Project Manager Ajay Vadala was present. The company began in 2016 to enhance security in gated communities. Today, it is India's leading solution for comprehensive community management. They serve over 3.5 million families.
  2. Five at Heart: CEO Michael Coley's company manufactures the best bike rooms, change rooms, and modern workplace experiences.
  3. Vega Innovations: Vega Innovations Sales and Marketing Manager, Natashia Anderson, was present. She highlighted how the Colombo-based company is revolutionising the automotive industry with its high-performance electric supercars and EV technologies.

KEY DISCUSSIONS ON GREEN FINANCING

The Expo featured a crucial fireside chat on green financing. Mr. Siseko Mbandezi, the City of Cape Town's Member of the Mayoral Committee for Finance, and Mr. Vitor Pereira, Executive Director of Zoom Global Smart Cities Association, led the chat. Distinguished urban leaders from around the world joined this discussion, including Anton Elistratov, CEO of Samolet Group, Valter Vieira, Regional Director of Aspect, John Shenton, Chair of CIOB, and Jan Vapaavuori, former Mayor of Helsinki.

In this chat, they explored various aspects of green financing and underlined its importance for advancing sustainable urban development.

AN EXCITING EXPO ON THE FUTURE OF URBAN DEVELOPMENT

The Future Urbanism Expo continues to serve as a global platform for sharing insights and innovations that will shape the future of smart cities and sustainable urban living. It's a great event with forward-thinking companies from all over the world.

Qatar's real estate market saw growth in September

Article-Qatar's real estate market saw growth in September

Doha Qatar day time city aerial view

Last week, Qatar's Ministry of Justice's Real Estate Analytical Bulletin reported real estate trading for sale contracts in Doha, Qatar during September 2023 reached QR1,037,617,682. This marked a 1% increase from the previous month. September saw a total of 300 real estate transactions.

MOST ACTIVE MUNICIPALITIES BASED ON VALUE

The municipalities of Doha, Al Rayyan, and Al Dhaayen stood out in financial terms, based on the real estate market index. Al Rayyan recorded the highest transaction value at QR 341,793,633, followed by Doha municipality with QR 328,446,892, and Al Dhaayen municipality with QR 154,912,596.

REAL ESTATE ACTIVITY OF QATAR’S MUNICIPALITIES

Examining the trading volume for real estate, Al Rayyan led with 39%, followed by Doha with 19%, and Al Dhaayen with 15%. Concerning the number of real estate transactions, Doha saw 25%, with Al Rayyan at 24%, and Al Dhaayen at 20%.

PRICE RANGE ACROSS MUNICIPALITIES

The average per square foot prices for September varied across the municipalities. In Doha, prices ranged from QR 372 to 871. Al Wakrah had prices between QR 260 and 438, while Al Rayyan ranged from QR 337 to 390. Umm Salal's prices spanned QR 432 to 257, Al Dhaayen from QR 227 to 469, and Al Khor and Al Dhakira between QR 228 and 413. Al Shamal featured prices between QR 151 and 200, and Al Shahaniya's prices stood at QR 130.

MORTGAGE TRANSACTIONS

Doha municipality saw the highest number of mortgage transactions at 35, followed by Al Rayyan with 32, and Al Dhaayen with 18. The total value of mortgage transactions reached QR 2,694,623,782, with Doha leading in terms of value at QR 1,902,751,000.

RATIO OF MORTGAGED PROPERTIES

It's important to note that, except for Doha municipality, the ratio of the number of mortgaged properties was generally higher than the ratio of their financial value across all municipalities. In Doha, the amount of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.

POSITIVE TREND IN QATAR’S REAL ESTATE MARKET

In summary, Qatar’s real estate market saw growth in both trading and mortgage transactions during September 2023. This trend suggests a positive outlook for the sector.

In-depth discussion of Qatar's real estate sectors and trends will be underway this week at Cityscape Qatar

Bahrain's Sitra Mall to open in May '24: First phase now complete

Article-Bahrain's Sitra Mall to open in May '24: First phase now complete

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A popular shopping mall is set to relaunch with new architecture, positioning itself as 'Your Community Mall' in Sitra, an island located about 5km from the capital Manama

The multi-storey Sitra Mall underwent a $12 million facelift spanning across an area of 26,000 sqm. Phase One of the project is now complete. 

The Mall is set to open its doors for business by May next year, offering attractive propositions for its tenant mix, including café, restaurants, boutiques, retail stores, family entertainment and leisure, and services providers. 

FINANCING 

Bahrain Development Bank (BDB) signed an agreement with Mohammed Salahuddin Consulting Engineering Bureau (MSCEB) for a significant revitalisation of Sitra Mall.  

The agreement added that Bahrain-based MSCEB will oversee the design of the new facility and all required maintenance work over three phases, the first and second of which were valued at approximately $7.9m. 

STRIKING EXTERIOR

With a striking glass exterior serving as a unique landmark for the area, the mall's architectural enhancements are set to captivate visitors.  

With over 200 retail outlets and 500 parking spaces, the mall is dedicated to providing value and convenience to shoppers. 

Sitra mall is managed by Amana (Property Management), a wholly owned subsidiary of Edamah. 

The renovations will further capitalise on Sitra Mall's convenient location and picturesque coastal surroundings and represent a significant milestone to attract established retail shops and exceptional Food and Beverage concepts. 

Work first started on the project last year and continues on track. 

PHASE 1 COMPLETE

“The renovations at Sitra Mall have been executed in two distinct phases with Phase 1 completed last month showcasing a new entrance with a stunning glass exterior and revamped retail layout resulting in a spacious, bright, and inviting environment,” says an official statement from Amana Property Management. 

“Phase 2, scheduled for completion in April 2024, will introduce an exciting F&B strip boasting a variety of franchises with panoramic views of Sitra Bay, alongside the launch of a vibrant food court.”  

FORMER COVID-19 VACX CENTRE 

It’s noteworthy that the Mall was transformed into a large Covid-19 vaccination centre in 2021, with thousands of people turning up for inoculation. For over a year, it served as the primary site as part of the national vaccination drive in co-operation with the Health Ministry. 

RETAIL SECTOR GROWTH 

Development projects in Bahrain's retail sector continue, with several destination mall projects in the pipeline. 

This includes the $199m Phase 2 expansion project of The Avenues Bahrain, a popular seafront mall that will extend further along the west adding 41,200sqm of leasable space. 

It is expected to be completed during the first half of next year. 

According to latest retail occupancy survey by global real estate consulting firm, CBRE Bahrain – of the 20 malls surveyed, 70 per cent recorded occupancy growth in the first half of the year.

Cityscape Bahrain

London Gate launches new luxury projects in Dubai

Article-London Gate launches new luxury projects in Dubai

Luxury apartment Dubai UAE

London Gate, a prominent real estate developer, has launched a series of new projects, redefining luxury living in Dubai. News source Zawya uncovered this on the 25th of September. The company aims to blend Dubai's vibrant atmosphere with London's timeless style. They want to showcase their creativity and expertise in real estate.

LONDON GATE’S EXCITING UPCOMING PROJECTS

London Gate is getting ready to finish some remarkable projects. One of the most anticipated ones is Maya V, almost complete. It promises to be a blend of modern living and elegance, following the success of its predecessors.

But that's not all. London Gate is also introducing Nadine I & II and a new residential tower in Dubai Marina. These projects combine modern and heritage elements, demonstrating London Gate's dedication to creating exceptional properties and pushing architectural boundaries.

NADINE I & II

Nadine I & II features Roman/Venetian-inspired architecture with an Arabesque touch. The project will be ready in Q4 of 2024, creating a vibrant community for everyone. In total, there are 204 modern apartments, including one-bedroom, two-bedroom, and three-bedroom. So, this project suits couples, small families, and individuals alike.

MAYA V

Located in the Jumeirah Village Triangle (JVT), Maya V offers a vibrant lifestyle with many amenities. The project has green areas and a high-end gym for staying active. There's also a refreshing swimming pool.

Featuring one-bedroom, two-bedroom, and three-bedroom apartments, the project will be ready in Q4 2024. But, the company hasn't revealed how many apartments are available yet.

A BRIDGE BETWEEN ELEGANCE AND VIBRANCY

London Gate is more than a real estate developer. The developer links London's elegant style to Dubai's lively atmosphere. Eman Taha, CEO of London Gate, emphasises their commitment to creating luxury living spaces in the city.

According to Zawya, Ms. Taha emphasises the company's commitment to blending tradition and modernity in their projects. This she says is helping reshape Dubai's skyline with innovative architecture. But it also creates a unique living experience too.

PIONEERS IN ARCHITECTURAL BRILLIANCE

The goal of London Gate is to provide great living spaces. Due to their emphasis on outstanding architecture, imaginative design, prompt delivery, and simple payment options, the company has established itself as a pioneer in Dubai's real estate market.

Image note: Image used for illustrative purposes does not depict London Gate project

Women in Real Estate

Empowering Women in Qatar's Real Estate

Article-Empowering Women in Qatar's Real Estate

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Qatar is dedicated to empowering women, evident in its efforts for equal education, fair pay, and balanced work-family policies. These initiatives have led to increased female enrolment in universities and substantial participation in sectors like finance and healthcare. Within Qatar's real estate sector, women play vital roles, fostering innovation and growth.

Empowering Women in Various Fields

Qatari women hold key positions in ministries, diplomacy, and aviation, contributing significantly to the nation's progress. Qatar stands as a pioneer in the Gulf Cooperation Council, with women comprising over 48% of judiciary positions. Internationally, Qatar spearheaded the recognition of March 10 as the International Day of Women Judges. The nation actively involves women in peace-building efforts and encourages their participation in entrepreneurship, showcasing its commitment to gender equality.

Qatar's Commitment to Women's Leadership

Qatar takes pride in its women's economic leadership, reaching 57% in 2021, surpassing global averages. Women's strong representation in sectors like security, entrepreneurship, and the judiciary highlights Qatar's dedication to inclusivity. The nation continues to invest in human resources and infrastructure, empowering women and ensuring their active participation in shaping Qatar's future. Cityscape Qatar's CityscapeWIRE sessions echo this commitment, creating avenues for women to break barriers and drive progress.

CityscapeWIRE's Panel Discussion and Networking Session at Cityscape Qatar

Taking place for the first time at Cityscape Qatar, there will be a discussion panel powered by CityscapeWIRE (Women in Real Estate), as well as a networking session. Scheduled for Wednesday, October 25th, from 16:00 to 18:00, this agenda promises a deep dive into the real estate sector's future in Qatar.

Bringing together experts from across the real estate industry, from construction to proptech to sustainable development, the discussion aims to unveil the future of Qatar's real estate. Topics include navigating challenges in the start-up arena, with a focus on PropTech, understanding the link between construction and real estate, and ways for individuals to get involved in the industry.

Moderated by Billie Teshich, Managing Director of Omnivision Qatar and President of the National Association for Women in Construction in Qatar, this discussion promises fresh insights.

Panelists:

  • Maria Maximova, Head of Business Strategy, Qetaifan Projects, Qatar
  • Dr. Athba Thamer Al-Thani, Chief Business Development Officer, QDVC, Qatar
  • Sevgi Gur, Chief Marketing Officer, Property Finder Qatar, Qatar
  • Haajerah Khan, Chief Operating Officer, Hapondo, Qatar

Followed by a networking power hour, take advantage of this time to connect with other professionals in the industry, building valuable connections and fostering collaboration.

Qatar's journey toward women's empowerment and gender equality signifies significant achievements and unwavering commitment. Through education, legal reforms, and increased participation across sectors, Qatari women now hold influential positions, actively contributing to the nation's development. Despite challenges, Qatar's dedication to women's empowerment charts a positive path toward a more inclusive society.

Join us at Cityscape Qatar to witness the potential and power of women in the real estate sector. Register now.

 

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Egypt reveals $5B boost in projects for economic growth

Article-Egypt reveals $5B boost in projects for economic growth

Cairo Egypt city real estate in day time with blue sky and cloud

On the 20th of September, Daily News Egypt and other news outlets reported that Egypt's government plans to launch a series of projects worth $5 billion between October 2023 and June 2024. This initiative aims to support the private sector and boost economic growth. These initiatives are spread across three key areas.

THREE KEY AREAS FOR INVESTMENTS

The government's strategy involves 27 reform measures grouped into three main categories. 

1. Asset Sales and IPOs

The government will sell state assets and offer shares in IPOs. This will let citizens own more and offer opportunities for major investors.

2. Attracting Private Sector Investments

The government will make investing easier for the private sector. They will do this by being more transparent and regulating the market. This includes publishing regular reports on tenders and auctions, promoting fair competition, preventing monopolies, and ensuring coordination among relevant authorities.

3. Governance and Transparency

The Egyptian government strives to improve governance and transparency. This includes measures to activate the intellectual property strategy.

STRATEGIC TIMING OF PLANS

The Egyptian government's recent announcement follows a report by Knight Frank, stating that Middle Eastern Sovereign Wealth Funds intend to invest $120 billion in Egypt's real estate market. It seems like these reforms are taking advantage of this growing interest. This makes sense too given the strong investment opportunities available.

BOOSTING PRIVATE SECTOR-LED GROWTH

The government aims to boost the private sector's role in growing the economy. It wants to overcome challenges, increase private sector GDP contribution, create jobs, and boost exports. These efforts match the "State Ownership Policy Document". They also aid the government's goal of focusing more on the private sector for economic growth.

SIGNIFICANT REFORMS ALREADY IN PLACE

To date, the government has implemented 144 out of approximately 171 planned reform measures, according to the recent news reports.

These reforms span seven key areas:

  1. Policy Flexibility
  2. Exchange Rate Reforms
  3. Competition Enhancement
  4. Support for the Industrial Sector
  5. Improving the Investment and Business Environment
  6. Legal and Regulatory Reforms
  7. State Ownership Policy Implementation

FOCUS ON INDUSTRIAL SECTOR & BUSINESS ENVIRONMENT

The country has implemented 86 measures to boost the industrial sector and improve the business environment. Of these, 46 are for the industrial sector, and 40 support investment. These areas make up 60% of all reform measures.

So, Egypt is actively improving the environment for both local and foreign investors. The major focus is on developing the private sector and growing the economy.

In summary, Egypt's government is starting a big economic plan to promote growth led by the private sector. They are making changes like selling assets, attracting investments, and improving governance. The goal is to make business easier and strengthen the economy.

Qatari market gains strength from proptech

Article-Qatari market gains strength from proptech

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In the dynamic landscape of Qatari real estate, a new force is emerging, one that will redefine the future of property development. The term on everyone's lips is "Proptech." This fusion of property and technology is enhancing the real estate market in Qatar. Its potential to reshape the sector is nothing short of remarkable.

CURRENT PROPTECH IN QATAR

Proptech, short for property technology, is already enhancing Qatar's real estate market. This transformative wave of innovation is changing the way real estate functions in the country. From streamlining property transactions to building smart, sustainable cities, Proptech is already proving its worth in the Qatari real estate landscape. Qatar’s existing PropTech applications are having a major impact now. 

Sak Digital Platform

The success of the Sak digital platform in Qatar, highlighted by the Gulf Times, is streamlining the real estate transaction process. The platform has helped provide authorised and accurate online registrations. As a result, more investors have entered into Qatar’s real estate market. This is due to the system’s effectiveness, allowing one person to do the tasks of many people. To put this into perspective, Sak can process transactions in 30 minutes or less.

Lusail City’s smart city proptech endeavors

Known as the “City of Future” in Qatar, Invest Qatar and Ernst & Young report that Lusail City has US$45 Bn of smart infrastructure. Lusail City is full of sustainable and energy-saving methods. The innovative smart city features a high-tech fibre-optic network, citywide Wi-Fi, smart grids, and integrated traffic control systems. Innovative Building Management Systems (BMS) also help automate many key technology systems, making life easier for over 200,000 residents.

Msheireb Downtown Doha

Covering 31,000 square metres, Msheireb Downtown is a $5.5 billion mixed-use district that, as emphasized by Invest Qatar, is the world’s first downtown regeneration project. The project is a prime example of Qatar’s green building practices, with solar panels, shaded streets, and LEED-certified buildings.

Integrated ICT systems

As Barwa Real Estate Group mentions on their website, they signed an agreement with Huawei back in 2021 to integrate advanced ICT systems into their projects. This includes the implementation of smart lighting systems with solar panels that provide electricity, along with 5G technology, data transmission devices, and data centre systems.

Ooredoo Qatar’s partnership with Siemens and Microsoft

Last year, the ICT provider Ooredoo Qatar, partnered with Siemens and Microsoft to enhance the proptech infrastructure in Qatar and make Qatar ‘smarter’. This partnership is empowering Qatar’s key sectors with the latest smart city technology. This includes the use of IoT, a digital twin, AI, and blockchain to enhance services, boost sustainability, improve operations, enhance infrastructure, and grow the economy. More concrete aspects focus on implementing smart meter analytics, and smart street lighting. It also focuses on electric vehicle charging, Cloud Management platforms, and enhancing buildings, hospitals, offices, and campuses.

Many more current Proptech innovations in Qatar

  • In February 2023, The Peninsular Qatar mentioned the emergence of a partnership between Vodafone Qatar and Ariane Real Estate. It’s expressed how the partnership will help craft digitally connected and innovative real estate projects and services that advance sustainable living.
  • Late last year, PRYPTO introduced its real estate platform in the MENA region, bringing investors, buyers, brokers, agents, and homeowners together within one platform. The platform simplifies the property ownership process and offers individualized advice.

FUTURE PROPTECH POSSIBILITIES IN QATAR

Proptech has already had a major impact on Qatar’s real estate market, but there is still a huge range of opportunities ahead of us. So, it’s important that we look into these opportunities and how they can help enhance Qatari real estate.

PropTech within real estate digital marketing

JP Morgan gives a thorough insight into how proptech is changing real estate in its recent report titled: ‘JPMorgan’s 2023 Business Leaders Outlook: Commercial Real Estate’. From a real estate digital marketing perspective, JPMorgan emphasises the importance of virtual tours and 3D renderings, user-friendly online platforms, predictive analytics tools, and AI-powered chatbots. These all improve and enhance the customer experience for real estate companies.

virtual reality proptech real estate

Smart building systems

Smart building systems use proptech to track, control, and optimise the systems within a building. Thus, these systems can automate decisions by collecting and analysing data and making informed real-time decisions. This occurs through the use of automation systems, sensors, and Internet of Things devices. So smart building systems, according to JPMorgan can benefit real estate occupants, owners, and operators by:

  • Accelerating decarbonisation by using automated energy management systems to adjust heating, cooling, and lighting.
  • Enhancing comfort through monitoring indoor humidity levels, air quality, and temperature and regulating them as needed.
  • Boosting connectivity with interoperable building systems and devices that enhance operational efficiencies.
  • Tightening security via AI-powered video surveillance, remote monitoring, cloud-based access control, and mobile credentials.
  • Improving operational efficiency through automated tasks increasing output, streamlining processes that save money by reducing error and fraud risk, and using a centralised data source for informed decision making.

So, smart building systems are key to an energy-saving and operational efficient future, signalling what is likely to become a major part of future Qatari real estate developments.

Additional proptech applications that have a strong future in Qatar

Many extra PropTech solutions will further enhance Qatar’s real estate market in the future. As an example, the use of NFTs (Non-Fungible Tokens) and blockchain technology, according to reporting by Forbes on its website, offers transparent proof of ownership which can aid the viewing of past property transactions. This technology can also automate both simple and complex records surrounding property. When combined with the likes of metaverse technology this can create a immersive real estate experience that we are already seeing take shape in Dubai in particular. So with the likes of the existing Sak digital platform, Qatar could look towards NFTs, blockchains, and metaverse technology to expand upon its efficient and streamlined real estate processes.

3D printing and additive manufacturing is another PropTech innovation that Qatar can leverage. This technology is already providing the MENA region’s architects and designers with enhanced creative flexibility and a safer working environment. So it can open lots of new avenues for the Kingdom’s real estate construction processes.

PropTech’s continued role in Qatar’s sustainable development

The application of proptech will have a strong impact on sustainable development in Qatar too. According to PwC, and Saakin Inc, the fastest-growing real estate directory in Qatar, the vision for a sustainable future as a core component of Qatar’s Vision 2030 offers a strong asset for Qatar’s real estate market, accelerating PropTech innovation and adoption within the sector. So, a strong opportunity for Proptech in Qatar lies in the adoption of sustainable development, reducing energy consumption and aiding operational efficiencies.

While proptech innovation extends far beyond sustainability, fast companies outline the positive impact of property technology on the environment. They express how proptech can support sustainability through key initiatives. These include clean energy systems and production, and smart leak sensors that reduce water wastage. So, although most of the talk around proptech in Qatar centres around automation, connectedness, and smart management systems, it goes without saying that sustainable development must continue to play a part in the kingdom’s continued PropTech adoption.

Doha Qata Katara street sustainable greenery grass and trees

A STRONG FUTURE FOR PROPTECH IN QATAR

Proptech is not a buzzword but the key to Qatar's real estate evolution. With digital marketing, smart building systems, and sustainable solutions, it is already revolutionising the sector. These implications complement Qatar's Vision 2030 and sustainable efforts. Yet we can expect further innovation in the future. The adoption of Proptech in Qatar has only begun, with the prospects of achieving the Kingdom's Vision 2030 goals and beyond. So, Qatar's real estate sector is on an exciting trajectory towards innovation, efficiency, and sustainability as proptech continues flourishing. A bright future awaits.

In Conversation with Mashael Ghouth, Senior Sales Director, ROSHN

Article-In Conversation with Mashael Ghouth, Senior Sales Director, ROSHN

Mashael Ghouth

Mashael thank you for meeting with us here at Cityscape Global. Where are you from?

MG  I am Saudi, originally from Madinah, used to live in Jeddah. I joined ROSHN Real Estate four years ago as the first member in the Sales department.

How are the sales going at Cityscape?

MG  Very well. Potential customers are expressing their interest in the coming phases of SEDRA community and the upcoming WAREFA community, as it is not yet launched for sale. Both are located in Riyadh city.

On the other hand, the sales in ALAROUS community located in Jeddah city is doing great. Sales are beyond our expectations.

At Cityscape, is it possible to reserve a unit, you don’t have to make a down payment?

MG  Both. For the projects that are still not launched for sale, people are just expressing their interest.

For ALAROUS, since it was launched last year, we’re able to complete a full transaction. It’s the first time at Cityscape in Saudi Arabia to allow sales, a full transaction with payment.

This a breakthrough for the first Cityscape Global in Saudi Arabia.

MG  Yes.

Sales are now occurring at SEDRA and WAREFA in Riyadh, and ALAROUS in Jeddah?

MG We are now selling for ALAROUS. SEDRA community has 12 phases, we have sold out phases 1 and 2. At Cityscape Global, we are displaying SEDRA phase 3 and WAREFA communities. As I mentioned, we are only generating interest now, we’re hoping to begin selling very soon.

The populations of these communities will be quite large. SEDRA is planned to have 30,000 units. Who is buying? What is their motivation?  

MG  SEDRA is in a very strategic location to begin with. Being a credible developer owned by Public Investment Fund is a fact that attracts potential customers. I believe the idea of humanized communities is what makes ROSHN a unique master developer. We are not only developing homes. We ensure high quality, various typologies to cater to different needs, and handing over on time.

We are developing as well the public amenities such as mosques, commercial centres, medical centres, schools, etcetera, a few miles away from each neighbourhood to encourage walkability and decrease reliance on cars, therefore enhancing the healthy lifestyle for the residents. The landscaping of trees and plants provides shade to many playgrounds. Cycleways and picnic areas cover a large space of the masterplan. The community will attract both end users and investors depending on the unit typology.

Are buyers permitted to buy investment property for lease?

MG  Of course. However, since we’re selling off plan, it’s not at this stage, obviously post-handover. Buying in ROSHN communities is a true investment for the resident and for the investor in future.

How would you characterize your developments? Mid-market?

MG  We are targeting all the segments. We are keen to have diversified properties that would cater to all needs and different desires.

Is it part of the mission of the company to supply this market?

MG  Yes. Now with our mandate, we’re contributing to a national target to enhance home ownership to 70 percent by 2030. Now it’s approximately 62 percent.

So we want to contribute to this target. And we think, many in the younger generation today are leasing apartments or small houses. They want their lifetime house to be in a community.

And since we’re selling off plan, they have time to pay in instalments, which makes it easier to buy.

We’re providing special home finance exclusively for ROSHN customers.

You have your own internal financing?

MG  No. We’re collaborating with local banks which provide our customers with financial planning to ensure that the choices are suitable from a financial point of view and from a quality-of-life perspective. They advise our customers with their affordability and obligations to come. We have some of them present at our sales centre to process the home finance in the most convenient way based on special agreement between them and ROSHN.

Are these 15-year or 30-year loans?

MG  Up to 30.

What down payment?

MG  The banks require 10 percent down payment.

So a family can get into a house without a large cash outlay.

MG  Yes. If a customer is a cash buyer, he/she will have to follow a payment plan to pay the instalments in an average of two years. If the customer is home finance buyer, he/she will have the exclusive home finance loan from the financial providers.

How far out are you looking with off plan sales?

MG  Off-plan sales is a potential for capital appreciation. Customers buying off plan have the opportunity to benefit from any potential increase in property value during the construction period. Customers are paying their instalments based on construction milestones. And we keep our customers updated on construction progress.

Proudly, we have a strong track record of delivering ahead of schedule. In Saudi Arabia people have been hesitant to buy off plan products due to multiple risks but ROSHN has overcome this and people now have the confidence to buy.

Will ROSHN continue developing large community projects throughout Saudi Arabia?

MG  ROSHN, as the most trustworthy master developer in the Kingdom, has the ambition to become well known globally. We have a mission to make long term investments in the future of cities across the Kingdom by developing great communities with best-in-class homes.

This by default will contribute to the Vision 2030 mandate to increase  homeownership by 2030. In addition, I believe we will open into other segments such as commercial and mixed-use communities. As it is known, real estate is always attracting other sectors to follow.

Mashael Fahd Ghouth holds the position of Senior Director of Sales at ROSHN Group, fully owned by the Public Investment Fund. Fortified with an EMBA degree, she has developed extensive competencies across an array of sales roles, with a solid track record in multinational firms such as Jabal Omar, Damac Properties, Sobha Group, and Emaar, the Economic City.

Helicopter-aided construction: Enowa's breakthrough in NEOM

Article-Helicopter-aided construction: Enowa's breakthrough in NEOM

Erickson helicopter saudi arabia neom innovative construction project

Enowa, the energy and water company of NEOM, has introduced a clever construction method using helicopters to install high-voltage transmission line towers. Trade Arabia and other news outlets announced this innovative approach on the 19th of September. It's an approach that aligns with the company's mission to create a 100% renewable energy system.

NEOM: SAUDI ARABIA'S SHOWCASE GIGAPROJECT

NEOM, in Saudi Arabia's Tabuk Province, is a massive urban project. Enowa's recent work in NEOM is a big step in using eco-friendly construction methods in the region.

HOW THE PROCESS WORKS

Helicopters bring parts to NEOM's mountain base, where they are assembled. This stops the need for building roads for trucks and cranes that harm the environment. Thorsten Schwarz, Enowa's Executive Director of Power System Engineering, says it's vital to set new standards in construction to help the environment and protect the natural surroundings.

NURTURING LOCAL TALENT & EXPERTISE AT ENOWA

Led by a Saudi engineer, the project shows the business' dedication to supporting and developing Saudi talent. This approach aligns with the company's commitment to develop homegrown expertise.

A QUICK AND EFFICIENT PROCESS

Project Engineer Jumanah Almurdhi underlines the effectiveness of building using helicopters. It not only speeds up project timelines but also harmonises infrastructure development with nature. This method reduced the time, labour, and extra work involved in crane-based tower building, according to the Trade Arabia and other news reports. 

SUCCESSFUL COLLABORATION

The Saudi Electricity Company, Al Sharif Group Holdings, Helicopter Express, and Al Rushaid Group are a few of the significant companies Enowa has collaborated with. Together, they were successful in completing this innovative initiative.

The company's use of helicopters for construction in NEOM serves as a new example of sustainable development in Saudi Arabia. It shows how innovative techniques may minimise negative environmental effects while meeting crucial infrastructural needs. This success demonstrates Enowa's commitment to excellence.  It also shows the company's efforts to enhance sustainable construction practices in the Kingdom.

Photo credits: Erickson Inc (the same helicopters used by Enowa)