a day ago
Want to go home shopping in the UAE? Pick up your VR goggles
Buying and selling property has traditionally been a slow and often painful process, involving multiple parties, paperwork and physical viewings. But technology is making serious inroads into making property transactions both faster and smoother. Welcome to proptech (property technology).
One example of proptech that is already being used is virtual tours. What started out as pre-recorded videos of the property became live thanks to streaming apps like Zoom. Now, more sophisticated property agents use Virtual Reality (VR) goggles to give a more immersive experience. 'Imagine a world where you, as a potential homeowner, can roam around your new property, whether it's off-plan or you are overseas. This is a game changer,' says Eyal Ashur, a sales consultant at AQUA Properties.
'Developers like Emaar, Dubai Properties, and DAMAC offer VR walk-throughs where you can tour balconies, change finishes, or see how sunset light hits your future living room,' adds Fouad Bekkar, a proptech expert and the CEO of Coraly (previously Coralytics). However, adoption is primarily limited to luxury and off-plan segments, according to Himanshu Niranjani, chief technology officer at Property Finder. 'We are exploring how best to expand immersive experiences, with the aim to solve real problems, be it decision anxiety, inability to visit in person, or lack of confidence in layout and lighting. We do not see VR as a gimmick, instead we view it as a utility when integrated into a larger decision-making journey.'
Instant valuations
What Proptech is having the biggest impact on how people buy and sell their homes in the UAE? 'Websites and apps that give regular people access to up-to-date transaction data from the Dubai Land Department (DLD),' says Jack Sellers, founder of YallaValue, a valuation platform that provides free estimates for properties in Dubai. 'Historically, this information was only accessible to brokers, but now it has leveled the playing field and created informed buyers and sellers.'
Tools like the DLD's Smart Evaluation deliver government-backed valuations in seconds. 'If both parties agree, you can finalise the sale instantly, no agent or banker needed,' adds Sellers. Other solutions include Property Finder's Home Value Estimator, which crunches multiple market variables (transaction feeds, unit specs) to deliver fast valuations and heat-map pricing, which are handy for both sellers and those weighing up renting versus buying comparisons.
Betterhomes has just launched an artificial intelligence (AI)-powered instant valuation tool and an AI co-pilot for brokers to give them real-time market data on the go. 'So much of the mundane day-to-day tasks of the brokerage can, and will, become automated, freeing up the very best brokers to focus more time on supporting a greater number of clients,' says board member Richard Waind.
Property Finder has a price algorithm that looks at similar listings and determines a minimum and maximum realistic price of the listing. If the listing is under or overpriced (by approximately 5 per cent of the range), this is flagged to the real estate professional overseeing the listing. 'These programmes eliminate noise and enable faster, smarter transactions. We're not just showcasing listings, we're helping consumers get to the right decision faster,' says Niranjani.
Mortgage approvals
Another potential roadblock that slows property transactions is mortgages, but this is being tackled with proptech apps like Holo. It uses an algorithm integrated into the backend systems of more than 20 banks in the UAE to speed things up. 'Once a user submits their application, the platform runs real-time eligibility checks using live bank criteria, such as salary, employment type, and property details, to instantly generate a shortlist of personalised mortgage offers they actually qualify for,' explains Michael Hunter, CEO and Co-Founder of Holo.
From there, in-house mortgage managers step in to analyse the shortlist and help the buyer understand which product offers the best long-term value based on their goals, whether it's lower monthly payments, early settlement flexibility, or the fastest approval timeline. 'So it's tech-driven speed, with human insight layered on top.'
One of the major benefits of fractional ownership on the blockchain is liquidity. Currently, it's an administrative nightmare to change dozens of names on the title deed on a constant basis"
Eyal Ashur, Sales Consultant At Aqua Properties
Digital contracts
Property purchases are known for being paper-based and requiring lots of in-person signatures and stamps. But the DLD now records nearly half of all property sales on a blockchain-based system. Think of the blockchain as a giant shared Google Doc for transactions — everyone can view and verify the document online — without needing a central owner. The DLD plans to put more transactions on the blockchain to verify ownership. It has launched the Dubai REST app (short for Real Estate Self Transaction). This is a digital platform that handles a wide range of real estate services, transactions, and market data in one convenient tool.
Buyers can use the Dubai REST app to transfer funds securely, while the ownership title updates on the blockchain in real-time, cutting paperwork and delays by up to 30 per cent, according to Coraly's Bekkar. In June, a Kensington Waters apartment was tokenised and transferred in just under two minutes. 'That's not just fast, that's revolutionary. No more waiting days between deposit and deed, all transactions are traceable, tamper-resistant, and fraud-proof. International buyers can complete deals remotely, ID verification and e-signatures happen inside the app,' explains Bekkar. The DLD has also begun issuing tokenised title deeds via its Real Estate Evolution Space (REES) programme,. Betterhomes' Waind says he expects that RERA will be bringing in the same system for leasing contracts in coming months.
Fractional ownership
With spiralling property prices, particularly in Dubai, some providers now offer fractional ownership. This means you can buy a portion of the property, rather than the whole thing. One company doing this is called Stake. The DLD, via the Prypco Mint Platform, also offers a type of fractional ownership called property tokenisation. You can buy a fraction of a property, which is stored on the blockchain and exists in the form of a digital token. Such schemes are proving very popular. 'One of the major benefits of fractional ownership on the blockchain is liquidity. Currently, it's an administrative nightmare to change dozens of names on the title deed on a constant basis,' says Ashur.
The future
Property experts see a number of themes emerging in the coming years. One of them is artificial intelligence (AI) agents, which Property Finder's Niranjani predicts will become more mainstream. 'Imagine interacting with a voice or chat interface that learns your preferences, understands local nuances, and helps you search, compare and even initiate paperwork, without opening an app.'
Another development could see one-click transactions, inspired by e-commerce, where verified units, identities, and payments create an ecosystem allowing for a rental agreement or home purchase to be completed in minutes.
'Proptech in the UAE isn't just about digitising forms, it's about rethinking the entire housing journey. Property Finder's approach is grounded in first-principles thinking, long-term product craftsmanship, and AI-first systems design. We're not chasing trends, we're building the foundation for the next 10 years of real estate in the region.'
The UAE is working hard to become one of the leading digitally-focused countries in the world, and its booming property sector is at the forefront of this digital revolution. 'Dubai has become the global launchpad for smart real estate. Blockchain titles, instant valuations. VR walk-throughs, AI contracts. Whether you're scouting from Palm Jumeirah or Paris, you can now view a property, price it, fund it, and own it, all in one day,' adds Coraly's Bekkar.
