AI drives major gains for Damac Properties, boosting collections by $54.45mln
DUBAI: Ali Sajwani, Managing Director of DAMAC Properties, affirmed that artificial intelligence (AI) has become a key driver in the development of the real estate sector. He noted that thanks to AI solutions, the company successfully increased its monthly financial collections by AED 200 million, representing a 20% growth, by enhancing customer communication management and swiftly and accurately analyzing the reasons behind payment delays.
In a statement to Emirates News Agency (WAM) on the sidelines of the Dubai AI Festival, Sajwani explained that AI is no longer limited to technical aspects. It has become an essential tool in decision-making across all areas of real estate development, including sales, land selection, architectural design, pricing, marketing, and customer service.
He further elaborated that applying AI in the collections process enabled the company to analyse and cover 100% of clients and transactions, whereas previously, the process was manual and staff only reviewed and analysed 5 to 10% of transactions.
Sajwani also highlighted that AI and technology contributed to a notable improvement in customer satisfaction, with the score rising from 3.5 out of 5 at the beginning of 2024 to 4.5 out of 5 today.
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