It is undeniable, the property game has changed considerably since the introduction of proptech. It’s no longer a trend, but a necessity for the industry globally changing the way people buy, sell, manage and even research property. With proptech companies springing up across the MENA region, it has also signalled the rise of women-led firms in this space who are offering a diverse range of solutions to major challenges in the industry.
Today, the global proptech market size is expected to reach up to USD 47,842 million by 2032 from USD 19,608 million market value recorded in 2023, according to a report by Future Market Insights. The market is expected to also witness the adoption of several innovative technology-based property solutions and a rise in female-founded proptech companies.
FEMALE-FOUNDED PROPTECH FIRMS BREAK RECORD
Last year, the Center for Real Estate Technology (CRETI) and Innovation revealed that female-founded proptech firms broke records after receiving USD 1.5 billion worth of investment in 2023, while it is a fraction of the USD 11.38 billion invested in the total industry, CRETI maintains that it represents a massive shift in the mindset of investors.
“The impact of this trend extends beyond mere representation. Women-led companies in proptech are often at the forefront of adopting and developing new technologies, from blockchain and AI to sustainable practices,” according to a report by CRETI last year following the news of the USD 1.5 billion investment.
NOT ONLY ABOUT GENDER-BALANCED LEADERSHIP
For CRETI, it’s not simply about gender-balanced leadership but about inclusive and innovative solutions for the challenges facing the real estate sector.
Ranime El Skaff, Co-Founder Prop-AI, a UAE-based proptech company, is proof of that, her company is looking to change the real estate game. Finding a solution to real estate investor and buyer challenges was what led her to start Prop-AI. The company automates macro and micro research to help buyers and investors find their top cities and properties much faster and in a more efficient manner. By creating a watchlist of cities and using an AI-powered algorithm, Prop-AI enables investors to scan the market and ranks properties that are most suited to an investor or buyer’s profile.
Disrupting the real estate investment market was essential to El Skaff so that she could make it possible for a cross-section of investors who were being neglected by brokers. “There is a significant chunk of the population who want to invest but just don’t have the time or resources to do the research and these people were neglected in the past but now things are changing,” she told CityscapeWIRE.
“I do believe that in proptech, we do have an opportunity to see and create change so we can start to see more women enter the field as founders and leaders,” she added.
GROWING MOMENTUM OF WOMEN-LED PROPTECH COMPANIES
Silvia Eldawi, Founder of Propologi in the UAE has taken on the proptech space in the region though future-proofing property professionals and real estate brands.
For her, there’s a growing momentum around female-led proptech start-ups in the Middle East, and it represents an exciting shift.
“The entrepreneurial landscape in this region is evolving, and women are increasingly stepping into roles that were traditionally male-dominated. In proptech, we’re seeing women not just participating but leading innovative ventures that are reshaping the industry. This rise is fuelled by greater access to funding, supportive ecosystems, and a cultural shift towards embracing diversity in leadership. Women bring unique perspectives and problem-solving approaches that are crucial in an industry as dynamic as proptech,” said Eldawi to CityscapeWIRE.
Speaking about saturation in the proptech market, Eldawi maintains that while there are lots of players entering the market and it represents a healthy growth.
“The real estate needs in the region are diverse and constantly evolving, whether we’re talking about smart cities, sustainability, or catering to a young, tech-savvy population. There’s plenty of room for new ideas, plenty of problems that require solving for, and plenty of room for multi players addressing the same innovation,” she adds.
Looking at the future, Eldawi predicts that the region will become a global hub for proptech, much like Silicon Valley did for traditional tech, “due to several key factors: first, the aggressive investment in smart cities and digital infrastructure is laying the foundation for a thriving proptech ecosystem, second, the region is driving demand for innovative real estate solutions, which in turn is encouraging local start-ups to think big and scale fast. Finally, with governments and private sectors actively supporting start-ups through funding, incubation, and regulatory frameworks, MENA is becoming a hotbed for proptech innovation.”
RECRUITMENT TO DIGITISATION: WOMEN-LED PROPTECH FIRMS OFFER DIVERSE SOLUTIONS
From mentoring real estate professionals, offering a recruitment platform to seamless digitisation, women-led proptech companies in the region are offering unique solutions to challenges in the real estate sector.
Louisa Dickins, Co-Founder of LMRE, a global market-leading proptech recruitment platform based in the UK, and host of the successful podcast, The Propcast, recently opened its branch in Dubai last year. For Dickins there is a huge appetite for technology innovation in the region.
“The Middle East region has undergone notable transformations to increase technology across diverse economic domains. The rise of proptech signifies the integration of technology in the real estate sector, which has allowed new ways of property acquisitions, sales, rentals, investment, management across the region,” she told CityscapeWIRE.
Joining the league of female proptech founders is Lynnette Sacchetto who recently started her own company, RealTrustUAE, that is doing ground breaking work when it comes to offering digitised and efficient real estate solutions. Sacchetto is known for her pioneering work when it comes to data transparency in the UAE.
The increasing prominence of a diverse range of women-led companies like Prop-AI, RealTrustUAE, LMRE and Propologi is an encouraging sign for the future of proptech as it offers the industry more inclusive and revolutionary solutions for challenges that the real estate market faces.
Cityscape WIRE is MENA's networking community, fuelling women's careers in the real estate industry.
