The real estate and PropTech industries have amassed investments globally and have been a significant contributor to economies around the world.

The industry is at the cusp of an era where PropTech will be the beacon leading the industry to new heights. The $200 trillion global sector remains one of the most favored asset classes globally and is all set to be transformed.

What is PropTech?

PropTech refers to the use of technology in different areas of real estate. PropTech, also known as real estate technology, includes everything from marketplace portals to applications to manage homes and buildings to those supporting smart buildings/cities to fintech applications to make real estate transactions efficient.

PropTech is a fastgrowing industry and also holds the tools and means to achieve the goals of the widespread urbanization happening around the world.

The opportunities for PropTech are enormous as the areas where technology can make a difference are not just limited to the construction or sale of real estate online.

The involvement of Deeptech in PropTech has given rise to startups that brought to the forefront some of the most innovative solutions and concepts. Real estate technology is increasingly getting adopted by traditional real estate companies that are eyeing it as an opportunity to stay ahead in the game.

Bahrain as a Gateway to The GCC Real Estate Sector: A Highly Fertile Ground for PropTech

The GCC construction segment is a goldmine of potential for PropTech. Though the signs of the last real estate downturn are still visible, the quantum of construction projects in the pipeline in the GCC region is a staggering $1 trillion, making this a hotspot of opportunities.

Real estate in the GCC region is yet to see PropTech in all its glory, even though the region is extending lucrative opportunities for global PropTech companies. Bahrain is uniquely positioned to attract players to set up shop. Its status as one of the most liberalized regions in the GCC for foreign investment is another factor that makes it one of the best places for foreign investors.

With this segment still in its infancy, entrepreneurs are presented with numerous advantages, including the benefit of easily getting noticed by potential investors.

The setting up of data centers in Bahrain by Amazon Web Services has ushered in more favorable factors that signify the raw potential of PropTech that lies within the Kingdom.

This is the first time the company has set up something like this in the Middle East and is an indicator of several positive developments. Cloud adoption holds the key to major tech-driven expansion in the region. Smart solutions for homes and adoption of IoT is set to become easier to adapt with the establishment of the data centers.

GCC PropTech Time 17th September 2019

The GCC PropTech Time was organized by HexGn on 17 September 2019 in Bahrain with the kind support of the Economic Development Board, Bahrain. GCC PropTech Time 2019 brought together innovation leaders and traditional real estate players to create a common thinking ground for true collaboration between all the stakeholders to transform the way real estate is done.

HexGn started this because the real estate industry needed a space where the most outrageously inventive and ambitious people could connect and co-create the future of the real estate industry using data, insights, and technology.

The event offered entrepreneurs, property developers, investors, and other stakeholders from the real estate industry an excellent opportunity to understand what PropTech holds for the region and what’s the best way to join this trillion-dollar opportunity. The event included five highly-engaging sessions by experts in the industry from Bahrain, India, Germany, the USA, Saudi Arabia, Russia, and Hong Kong. The sessions brought PropTech expertise from around the world to the table and offered global insights into the industry.

One of the highlights of PropTech Time was the release of the Global PropTech Survey for 2019 conducted by HexGn. The findings of the survey were based on the response of 400+ participants across continents. The study offered yet another source of insight for the participants into the larger PropTech segment and what drives it.

The event is not just about uncovering much-needed knowledge but is also aimed at helping budding PropTech startups and entrepreneurs in Bahrain to find the right footing to become one of the most influential players in the regional PropTech industry. A three day Bootcamp was simultaneously held for Startups and entrepreneurs to help them finetune their ideas and streamline their venture processes.

About HexGn HexGn is a team of industry experts and seasoned entrepreneurs who are committed to creating better opportunities for all.

They have fast-tracked over 3000 entrepreneurs and students across 20 countries. Collectively their clients have raised more than $100 million in investments. HexGn bridges the information and skills gap for people who are looking to change their career directions by either joining sunrise industries or by becoming an entrepreneur.