Latest news with #PropTech
Zawya
7 days ago
- Business
- Zawya
Bayut achieves 100% compliance with Abu Dhabi Real Estate Centre Regulations
Abu Dhabi, United Arab Emirates – Bayut, the UAE's leading PropTech platform and a regional pioneer in artificial intelligence and machine learning applications for real estate, has announced it has achieved 100% compliance with the regulatory requirements issued by the Abu Dhabi Real Estate Centre (ADREC). This milestone highlights Bayut's continued leadership in shaping a more transparent, credible, and technologically advanced real estate ecosystem in Abu Dhabi. The announcement aligns with the launch of 'Madmoun', the GCC's first government-led Multiple Listing Service (MLS), introduced by ADREC to enhance transactional reliability and elevate listing verification standards. Through Madmoun, only valid properties—listed by a maximum of three licensed brokers—will be allowed on the market, marking a landmark step in regulating the emirate's property landscape. The team at ADREC has also welcomed Bayut's 100% compliance milestone with great enthusiasm, viewing it as a key signal of market readiness to adopt technology-driven regulatory frameworks. Bayut has been at the forefront of integrating cutting-edge AI and machine learning models to eliminate listing inaccuracies and promote trust. Tools like TruBroker™ have become industry benchmarks for property authentication, giving users confidence in the availability and accuracy of listings. These AI-driven tools are further supported by human review systems, ensuring that every listing meets Bayut's market-leading quality and compliance criteria. Commenting on the announcement, Haider Ali Khan, CEO of Bayut and CEO of Dubizzle Group in MENA, said: 'Achieving full compliance with ADREC's regulations is not just a regulatory milestone—it is a testament to our tech-first mindset and relentless drive to raise the bar for PropTech standards in the region. At Bayut, we are harnessing the power of AI, data science and automation not just to meet industry requirements, but to shape what the future of real estate should look like: smart, safe, and transparent. We commend ADREC's visionary Madmoun initiative, which aligns perfectly with our mission to deliver credibility and innovation at scale.' This achievement builds on the strategic partnership signed between Bayut and ADREC in 2024, focused on fostering deeper public-private collaboration to enhance data accuracy and elevate digital infrastructure within Abu Dhabi's real estate sector. As the PropTech landscape evolves, Bayut remains committed to being the regional benchmark for AI-led real estate platforms, championing innovation that serves the interests of investors, agencies, developers and end-users alike. With a robust team of engineers, data scientists and compliance experts, Bayut continues to drive the transformation of real estate through technology that leads, not follows.
Globe and Mail
28-05-2025
- Business
- Globe and Mail
La Rosa Holdings Corp. Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
Celebration, FL, May 28, 2025 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) ('La Rosa' or the 'Company'), a real estate and PropTech company, today announced that on May 21, 2025, it received a delinquency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC ('Nasdaq') due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) (the 'Nasdaq Listing Rule') as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2025 (the 'Filing'). The Nasdaq Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the 'SEC'). This Notice has no immediate effect on the listing of the Company's securities on Nasdaq. The Notice provides that the Company shall submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule no later than July 21, 2025. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company an exception up to 180 calendar days from the Filing's due date, or until November 17, 2025, to regain compliance. In determining whether to accept the plan, Nasdaq will consider such things as the likelihood that the Filing, along with any subsequent periodic filing that will be due, can be made within the 180 day period, the Company's past compliance history, the reasons for the late Filing, other corporate events that may occur within its review period, the Company's overall financial condition and its public disclosures. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Company intends to take the necessary steps to regain compliance with Nasdaq Listing Rule as soon as practicable and currently expects to file the Filing within the 60-day period granted by Nasdaq and/or submit a plan of compliance with Nasdaq. However, there can be no assurance that a plan of compliance will be submitted within such period, the Filing will be filed within such period, the Nasdaq will grant the Company an exception of up to 180 calendar days from the Filing's due date, or that the Company will be able meet the continued listing requirements during any compliance period that may be granted by Nasdaq. Joe La Rosa, CEO of La Rosa, commented, 'We are actively working to complete and file our quarterly report on Form 10-Q and expect to do so shortly. Once filed, we anticipate regaining compliance with Nasdaq Listing Rule 5250(c)(1). We remain committed to transparency and strong financial reporting as we continue to execute on our business strategy.' About La Rosa Holdings Corp. La Rosa Holdings Corp. (Nasdaq: LRHC) is transforming the real estate industry by providing agents with flexible compensation options, including a revenue-sharing model or a fee-based structure with 100% commission. Powered by its proprietary technology platform, La Rosa aims to equip agents and franchisees with the tools they need to deliver exceptional service. The Company offers both residential and commercial real estate brokerage services, as well as technology-driven products and support for its agents and franchise partners. Its business model includes internal services for agents and external offerings for the public, spanning real estate brokerage, franchising, education and coaching, and property management. La Rosa operates 26 corporate-owned brokerage offices across Florida, California, Texas, Georgia, North Carolina, and Puerto Rico. La Rosa also recently started its expansion into Europe, beginning with engagement of the area developer in Spain. Additionally, the Company has six franchised offices and branches and three affiliated brokerage locations in the U.S. and Puerto Rico. The Company also operates a full-service escrow settlement and title company in Florida. For more information, please visit: Stay connected with La Rosa, sign up for news alerts here: Forward-Looking Statements This press release contains forward-looking statements regarding the Company's current expectations that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential' or similar words. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, our ability to successfully integrate acquisitions into our business operations, customer acceptance of new services, the demand for the Company's services and the Company's customers' economic condition, the impact of competitive services and pricing, general economic conditions, the successful integration of the Company's past and future acquired brokerages, the effect of the recent National Association of Realtors' landmark settlement on our business operations, and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission (the "SEC'). You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading 'Risk Factors' in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other reports and documents that we file from time to time with the SEC. Forward-looking statements contained in this press release are made only as of the date of this press release, and La Rosa does not undertake any responsibility to update any forward-looking statements in this release, except as may be required by applicable law. References and links to websites have been provided as a convenience, and the information contained on such websites has not been incorporated by reference into this press release.
Zawya
26-05-2025
- Business
- Zawya
Cityscape Egypt 2025 launches proptech challenge with support of 500 Global
Cairo, Egypt:: In line with its future-focused strategy, Cityscape Egypt announced an event partnership with 500 Global during a signing ceremony attended by Robier Daniel, Cityscape Egypt Exhibition Director, and Ezzedin Zahzah, Program Director at 500 Global, a leading international venture capital firm. The event partnership supports the second edition of Egypt Proptech Challenge, taking place as part of Cityscape exhibition, from September 24 to 27, 2025, at the Egypt International Exhibition Center. Building on the success of its 2024 debut, Egypt Proptech Challenge returns with expanded regional reach and greater impact, establishing itself as a premier platform for innovation in real estate. The challenge offers unmatched exposure and real-world business opportunities. Participants will benefit from direct feedback by a panel of distinguished judges, including venture capitalists and digital transformation experts, helping them refine business models and build strategic relationships. The challenge will spotlight innovations reshaping real estate and urban development. Startups from Egypt, the GCC, and Africa as shortlisted by Cityscape will present cutting-edge solutions across PropTech, ConTech, smart cities solutions, real estate innovation, property and asset management, sustainability. Finalists will receive mentorship opportunities, with leading ventures showcased at Cityscape. Robier Daniel, Cityscape Egypt Exhibition Director, stated: 'The return of Egypt Proptech Challenge reflects our commitment to driving innovation and digital transformation in the real estate sector. By collaborating with 500 Global, we are creating a platform that not only highlights visionary startups but also connects them with the right stakeholders to scale their impact across Egypt, the GCC, and Africa. This challenge is a catalyst for real change in how our cities are built and managed.' Amal Enan, Partner at 500 Global, said: 'We believe Prop-tech is redefining how our region builds, lives, and invests, and we see that Egypt is quickly becoming its innovation epicenter. By channeling capital and mentorship into visionary founders across Egypt, Africa, and the wider MENA, at 500 Global, we're not just backing companies, we're aiming to accelerate entire ecosystems. The talent is here, we think the market demand is undeniable, and we're proud to help turn that momentum into enduring impact alongside Cityscape 2025.' For further updates, including agenda, speaker announcements, and registration details, please visit:
CairoScene
20-05-2025
- Business
- CairoScene
USD 1.2 Billion PropTech Hub Launched in Dubai to Drive Real Estate
Dubai has unveiled a new USD 1.2 billion PropTech initiative aimed at transforming real estate through technology, establishing a regional hub for innovation, startups, and investment. May 20, 2025 Dubai has launched a new USD 1.2 billion PropTech initiative designed to position the emirate as a global hub for real estate technology. Announced by the Dubai Land Department and the Dubai Future Foundation, the initiative aims to accelerate the adoption of digital solutions across the property sector while fostering innovation and attracting international startups and investors. The PropTech Global Initiative, as it is officially named, will operate as a central platform for developing and deploying PropTech in fields including artificial intelligence, virtual reality, blockchain, and smart infrastructure. With a dedicated PropTech hub to be established in Dubai, the programme will serve as a launchpad for companies targeting markets across the Middle East and North Africa. The project is backed by a USD 1.2 billion investment pool and is expected to support 100 startups, offer specialised accelerator programmes, and facilitate collaboration between private sector innovators and government agencies. In addition to offering physical workspace and mentorship opportunities, the initiative will include regulatory sandbox environments to pilot emerging technologies in real-time property applications. Further details on the PropTech hub's location, participating firms, and programme rollout are expected to be announced in the coming months.
Dubai Eye
19-05-2025
- Business
- Dubai Eye
Dubai launches PropTech hub to drive real estate innovation
Dubai is launching a PropTech Hub to drive innovation in the real estate sector and more than double the value of the emirate's property technology market to over AED 4.5 billion in five years. The move supports the Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033, both of which aim to position the city among the world's top three economic destinations. The announcement was made during a meeting of the Higher Committee for Future Technology and Digital Economy, chaired by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister. By 2030, the hub is expected to attract over AED 1 billion in investments, support more than 200 PropTech companies, and bring in 20 investment funds focused on real estate innovation. Sheikh Hamdan emphasised that the initiative reflects Dubai's continued efforts to build a flexible, future-ready digital economy, supported by strong infrastructure, legal frameworks and a thriving startup ecosystem. The Dubai PropTech Hub will serve as a launchpad for entrepreneurs and investors, creating new opportunities in smart property solutions and helping to shape the future of real estate in the region. Hamdan bin Mohammed chaired a meeting of the Committee for Future Technology and Digital Economy and issued directives to launch the Dubai PropTech Hub. This initiative aims to accelerate the growth of the PropTech market in the emirate, targeting more than a doubling of its… — Dubai Media Office (@DXBMediaOffice) May 19, 2025
