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8 Sep 2019

Diyar Al Muharraq Announces Platinum Sponsorship of “GCC Proptech Time 2019” First-ever Proptech Summit to be held in the Kingdom of Bahrain

“Diyar Al Muharraq”, the largest real estate developer in the Kingdom of Bahrain, announced its contribution with Platinum Sponsorship for the upcoming “GCC PropTech Time 2019”. The event will be organized by HexGn for the first time in the Kingdom of Bahrain in partnership with the Bahrain Economic Development Board (EDB). It will be held during the Bahrain Technology Week on the 17th of September at the Crowne Plaza, Bahrain.

The event will see the participation of leading experts, officials, and decision makers from the real estate and technology sectors as well as various other sectors. The convening of such esteemed dignitaries has been planned with one goal - to discuss the different opinions about the creation of technologically advanced real estate developments for local, regional, and international companies. Additionally, the event will also serve to enhance communication, develop business relationships, and to offer an opportunity to interact with other high-tech companies.

The summit is expected to host 20+ experts and 100 participants from 20 different countries bringing together the top five pillars of the real estate sector: the government, developers, occupiers, investors, and technology in a one-day event to deliberate on the uses of technology for transforming the real estate in the MENA region. The event also aims to bridge the gap between disruptive technological companies, real estate professionals, investors and international experts. Commenting on this occasion, Eng. Ahmed Alammadi, Chief Executive Officer of Diyar Al Muharraq, said: “We are proud to announce our Platinum Sponsorship of “GCC PropTech Time 2019”, further positioning the Kingdom’s real estate capabilities on a global map. Diyar Al Muharraq strives to raise the standards of the local real estate sector in order to support the government’s efforts to accelerate the growth of the industry in line with the 2030 Economic Vision.”

He further added, “Technology has revolutionized many industries including real estate. It has also changed the way most businesses operate and is playing a vital role in forming real estate strategies, which demonstrates the importance of technology in our daily lives. There is no doubt that real estate has benefited from improved efficiencies from minor things such as the introduction of virtual tours, online listings, to actual technologies such as IOT (Internet Of Things) being introduced into homes and cities, which we have introduced in the structures of both Al Bareh and Al Naseem villas as an option for residents. We have also installed a state-of-the-containment infrastructure (Ducts and Pipes) which is a future intelligent transport system introduced by the Ministry of Works, Municipalities and Urban Planning, and the Ministry of Transport and Communications.”

The event will unveil the latest real estate construction technologies amongst the GCC countries. It will also showcase the technologies dedicated to the real estate industry in this digitized era which will support positive growth rates all with the help of innovative technology, real estate market professionals, investors and industry experts.

“The MENA region is proving to be a goldmine of potential for property technology. The GCC PropTech Time 2019 will be ideal for everyone keen on being a part of this fast-growing segment. The real estate landscape in MENA is already seeing technology becoming an integral part of real estate projects, thanks to industry powerhouses like Diyar Al Muharraq. Marrying technology and real estate can bring in unmatched benefits to the industries involved and the economy as a whole.” added Jappreet Sethi, CEO of HexGn.

The partnership was welcomed by Mr. Ali Murtaza, Director of Real Estate, Proptech, Tourism and Leisure Investment Development at Bahrain EDB. He said: "Bahrain boosts great developments in the real estate sector, and the recent adoption of Proptech is no exception. We are excited to see the GCC Proptech Time 2019 event come to Bahrain and are keen to discuss the growth in this promising area regionally,”

"The real estate sector in Bahrain is an important sector, and today as global growth and regional growth starts to face new challenges, we believe that Technology can help create new opportunities in this sector. Bahrain provides the ideal platform for such proptech firms to set up and grow to target the large real estate market of the MENA region. Bahrain provides skilled workforce, cost efficiencies, string infrastructure and great connectivity to the region that would help these firms scale along with government and private sector investments. At the same time, these proptech firms will help create quality jobs for Bahrain and help drive future growth".

The data collected from a global survey for GCC PropTech Time 2019 showcases the degree of integration of technology in real estate. The event is expected to help with transforming the traditional pattern of urban planning and real estate development by bringing all stakeholders, professionals and decision makers together through this platform.