- Propgenius to offer digital tools
- AI to change social media approach
- Pricing predictions from metadata
Dar Global, the London-listed arm of the Saudi Arabian real estate developer Dar Al Arkan, is establishing a venture dedicated to finding technological solutions to real estate companies’ biggest challenges.
Ziad El Chaar, CEO of Dar Global, told AGBI that the company’s new Propgenuis spin-off would introduce tools aimed at automating social media management for property marketing and offering accurate real estate investment pricing forecasts.
It uses generative artificial intelligence (AI) and data analytics to simplify content creation processes, changing how developers and brokers can approach their digital strategies.
“Companies spend a lot of time on populating social channels,” Chaar said. “From deciding what content to post, what design to use, what message to write — and they don’t know if it will be engaging or not.
“Our engine can automatically populate their social channels with content when they feed in the property information.”
Propgenuis is also developing price forecasting tools that will help investors evaluate the optimal timing and pricing for their investments, Chaar said.
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The AI model will use metadata from government and private sources to generate precise price predictions for each product, he said.
The initial rollout will target markets in Saudi Arabia and India, where, Chaar said, real estate portals need more advanced data analysis tools.
“Technology should ultimately enhance our lives by enabling better decision-making,” Chaar said.
The global property technology market was valued in 2023 by the International Market Analysis Research and Consulting Group at $31 billion.
It is projected to cross $100 billion by 2032, at an annual growth rate of 14 percent from 2024 to 2032.
The growth is a result of urbanisation, digitalisation of real estate processes and the integration of technologies such as AI, big data and blockchain.
A report by the real estate company JLL predicted significant growth in the Middle East’s construction and property technology sectors, particularly in Saudi Arabia and the UAE, fueled by mega-projects, AI advancements and sustainability initiatives.