The GCC PropTech Time Summit 2019, organized by the Bahrain Economic Development Board (EDB) and HexGn, was held September 17 amidst much enthusiasm among spectators and participants. Industry experts from not just the GCC region, but across the world took part in the iconic event comprising power-packed sessions focused on PropTech.
Ahmed Alammadi, the CEO of Diyar Al Muharraq, set the agenda for the day with his keynote address. Ali Murtaza, the Director of Real Estate and Tourism at Bahrain EDB, also took the stage a while later to discuss various facets about the thriving business landscape in Bahrain and the opportunities it presents for the PropTech sector.
It was an insightful experience for the attendees at the event as the round table discussions participated by key industry stakeholders churned out an in-depth strategic analysis of the challenges and opportunities staring at the industry.
Besides, the GCC PropTech Time Summit 2019 also saw co-organizer HexGn releasing the results of its latest PropTech survey. The report acknowledged that as of today, PropTech solutions focused on sales & leasing, planning & design, and property management are the highest in demand.
It also added that the majority of industry professionals across the board are of the view that new emerging technologies will eventually disrupt the real estate sector sometime within the next 4-7 years.
Apart from that, a whopping 80% of the respondents said they believed the PropTech sector was a big opportunity that is yet to be fully tapped.
Speaking on the occasion, Ali Murtaza, the Director of Real Estate and Tourism at Bahrain EDB, said: “Bahrain has time and again proved to be fertile for businesses especially for the tech-driven industries and is doing the same for PropTech. The Bahraini ecosystem can help PropTech players grow at an unmatched rate, as it has no dearth of any of the startup-essential resources.”