Dubai: Devmark Group, the recently expanded UAE-based multidisciplinary real estate organization, has highlighted the importance of embracing new technologies in the real estate industry as essential for survival in 2021.
During the panel “Why Developers Need to Adapt to Technology to Stay Relevant in 2021”, Sean McCauley, CEO of Devmark Group, Richard Aybar, CEO of ThinkLab, and David Agha, Chief Technology Officer for eiight, the integrated real estate software solution, explained how technology is changing the real estate landscape and why it is imperative that developers adapt now to survive in 2021.
âDevelopers can’t afford not to invest in technology. It used to be a tool to allow them to thrive, now it’s a necessity to survive,â McCauley said.
âIt is imperative that developers embrace digital transformation and use the myriad of tools available to engage with their potential customers. shape to build on in 2021,â he added.
The role of technology in the recovery of the real estate industry in 2021, the importance of adopting new technological strategies, the reasons why the industry has been slow to adapt and the technological trends affecting the real estate industry, were also discussed.
Highlighting the positive impact of technology on the real estate sector, Richard Aybar said: âReal estate companies that have integrated virtual imagery, 360 degree virtual tours, virtual reality and immersive project applications have reported overwhelming interest and success for their customers. These are just a few of the tools forward-thinking developers use to engage with investors, albeit in an unconventional form.
“You’re selling a dream, you’re selling an off-plan property, as a result of COIVD, all of a sudden you can’t bring customers to your sales center anymore, which makes it incredibly difficult to engage and Falling in love with a property Technology has always been there, however, the pandemic has accelerated the need for change and for developers to use it more effectively.
The panel attributed the slow adoption of the technology to the lack of drivers of change and the historical dynamism of the UAE property market, which has already seen massive demand for off-plan properties.
âThis year proved that the technology had to be adapted. There are a range of technologies available, but the key is how you integrate them into a central ecosystem system, and that’s where developers need to adapt to optimize the use of technology,â said Agha.
“The buyer has become significantly more advanced and wants instant gratification, so there’s a bit of catch-up for developers from that perspective,” he concluded.
As part of Devmark Group’s participation in Cityscape, the company has launched SalesLab, a new web-based interactive sales center that allows real estate professionals to showcase their properties in a more immersive way using proprietary solutions. cutting-edge tech such as Virtual Tours, 3D Visualizations and Live Inventory to create an unparalleled and engaging customer experience.
âThis new tool combines the very kind of innovation the industry needs. It allows buyers to talk to developers anytime, from anywhere in the world allowing them to view, select, book and ultimately purchase a new property,â said Aybar.
Specializing in project sales and marketing, Devmark Group is industry leading and the most experienced company of its kind in the MENA region.
Years of experience underpin our delivery in key areas, and we are committed to delivering new ideas, innovations and more efficient ways of doing things. This is what sets us apart.
As a trusted partner and advisor to leading property developers, we think about projects in their entirety – from concept to final sale. Smart, strategic, and results-driven, our team considers the optimal fix across touchpoints throughout the developer journey and beyond.
Understanding the unique needs of each of our partners means designing the right way to achieve maximum rewards – helping them succeed in today’s dynamic and fiercely competitive business environment.
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Â© Press release 2020