Two real estate experts said that the new technologies used in the real estate sector will be the main supporter of the sector, and the effective "weapon" to face the challenges posed by the spread of the Corona virus.

And they assured «Emirates Today» that the UAE is one of the most important real estate markets in the world that relied on integrating modern technology in the sector, starting from virtual reality, through Block Chain technologies, to electronic payment platforms, noting that the current conditions have created opportunities Real estate development and marketing companies have to change their business patterns and come up with innovative marketing ideas to attract customers.

flexibility

In detail, the Vice President of the International Federation of Arab Realtors, Dr. Mahmoud Al-Borai, said that flexibility in dealing with crises and harnessing modern technologies to facilitate matters for different parties in different business sectors, especially the real estate sector, is one of the most important factors for increasing competitiveness between companies, especially in the current circumstances With the spread of the new "Corona" virus worldwide.

He added that the real estate sector is one of the important sectors that need some kind of flexibility and confidence when dealing with new technologies.

Virtual Reality

Al-Burai said: “We are beginning to see a global trend among global real estate companies to use virtual reality and three-dimensional technology, in addition to integrated information platforms on prices, costs and investment returns, as well as comparisons in offering real estate products.”

He pointed out that such modern technology allows the real estate investor to choose the optimal investment supported by transparent and reliable mechanisms, and it also helps the investor who is looking for the return on investment and opportunities, especially at this time when the market is full of opportunities, and therefore may not need to see the property. And Al-Borai said that there is a new technology that can help a lot in light of the social divergence conditions imposed by Corona, including for example drones, that can be used to photograph the property from inside and outside with high efficiency that allows the end user to make a decision.

Sector Automation

Al-Borai stressed that the systems and technologies in the country currently help to fully automate the real estate sector, pointing out that real estate search engines such as "Property Finders" and "houses" have invested in 3D and informational technology, in addition to investing real estate departments in remote registration systems, and technologies Block Chain.

He said that all of this reduces the investor, so that he does not need, for example, to go to the real estate registration departments, pointing out that with seeing the property by default and registering it from a distance, the real estate investment has become 100% automated, in addition to that there are also platforms like "Smart Crowd" that allow investment Collective through a smart platform that does not need any investor presence at any stage of the investment.

Opportunities

For his part, said the real estate expert, Chairman of the Board of Directors of “W Capital Real Estate Brokerage Company,” Walid Al-Zarouni, that the current conditions imposed by the challenges of “Corona” have created unprecedented opportunities for real estate development companies and institutions to change their business patterns and put forward innovative marketing ideas in order to attract customers. By displaying its products in a new way through the channels (social media), and using virtual reality technologies to help the customer get to know the property.

Al Zarouni stressed that the country's digital infrastructure is strong and robust, and has the ability to assist real estate companies in completing these transactions completely.

Electronic services

Al-Zarouni pointed out that local real estate companies were proactive in the field of developing electronic services that enable customers to obtain a wide range of easy services, such as renewing lease contracts, electronic payment, maintenance requests, etc., as they took advantage of the advanced technological infrastructure in the country to expand the promotion of new projects in an easy way Attractive, as well as the use of smart services at home.

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