Updated 12 November 2023
Arab News
Simaat, the largest real estate platform for property management solutions in the Middle East, participated in the first edition of the Saudi PropTech Summit, held at the Kingdom Ballroom of the Four Seasons Hotel Riyadh on Nov. 6-7.
Organized by the General Authority for Real Estate, the two-day global summit brought together stakeholders and decision-makers of the proptech sector to review an agenda that integrates proptech and innovations, contributing to the quality of property investment and enhancing the growth and expansion of the sector in the Kingdom.
Simaat CEO Dhaifallah Al-Hassani said: “Simaat, the largest property management platform in the Middle East, was eager to participate in the PropTech Summit 2023 to reaffirm its commitment to actively contributing to Vision 2030, which aims to improve and facilitate the quality of life for citizens.”
Sami Al-Sharekh, executive vice president of Simaat, said that Simaat has achieved high growth since its inception, with financial transactions on the platform exceeding SR10 billion ($2.67 billion) and executed contracts exceeding SR5 billion. “Simaat will continue to implement well-studied expansion plans to acquire a larger share of the real estate property management market,” he added.
Al-Sharekh said that Simaat manages 170,000 active real estate units and serves 60,000 tenants. It is the only platform that provides services for managing real estate endowments.
Simaat includes Saudi Arabia’s largest real estate property management companies and is integrated with various government agencies, including the Ministry of Justice, the Ministry of Commerce, Sadad, and Mada. It is also linked with many government services, such as Ejar, the National Information Center, Zakat and Tax Authority, and Customs and Real Estate Authority.
Simaat has innovated and optimized the real estate industry through artificial intelligence-powered technology, minimizing transaction costs, maximizing efficiency, personalizing property management, and saving time for users.
Saudi PropTech served as a platform for exhibiting cutting-edge technological advancements in the realm of real estate. More than 25 speakers from 20 different countries shared valuable insights on the industry. Additionally, a real estate tech exhibition featuring local and international real estate and technology companies was the highlight of the event.
