Latest news with #techentrepreneurs
RNZ News
07-07-2025
- Business
- RNZ News
BNZ's new offer for technology entrepreneurs
The Bank of New Zealand (BNZ) is offering something new for technology entrepreneurs. Photo: RNZ / Nate McKinnon The Bank of New Zealand (BNZ) is offering something new for technology entrepreneurs - a tailored home loan product. BNZ said tech company founders struggled to get mortgages because standard bank lending criteria did not recognise how high-growth tech start-ups operated. "The core problem is that for [tech] companies who have traditionally been in a loss-making phase, the negative earnings would be applied to their [founder's] personal income," Tim Wixon, BNZ head of technology industries, said. Wixon said this negatively impacted their debt-servicing metrics using traditional banking criteria. He said that could effectively lock tech company founders out of the mortgage market. BNZ's 'Founder Housing' programme used different metrics to assess tech company viability, noting that tech companies' finances were typically heavily front-loaded with research & development, marketing, and expansion, which could create losses that appear on founders' personal financial assessments. Wixon said that it had already trailed the programme with a small number of tech company founders before its official launch, and that the bank's standard deposit, security and affordability criteria still applied before granting loans. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Khaleej Times
01-07-2025
- Business
- Khaleej Times
Home reimagined: The rise of the digital buyer in the UAE
Dubai has always been a city of bold ambitions. It's a place where architecture challenges the limits of engineering, where luxury is a lifestyle rather than a label, and where the skyline seems to reinvent itself every few years. More than Dh265.9 billion ($72.45 billion) worth of properties were sold or changed hands through 80,400 transactions between January till end of May this year, according to Dubai Land Department data. Beyond the headline-grabbing towers and futuristic developments, a quieter yet equally transformative revolution is taking place — one that is reshaping the very concept of homeownership. The global real estate market is projected to reach $654.39 trillion by 2025, with residential real estate accounting for $534.37 trillion, according to market intelligence firm Statista. With a steady Compound Annual Growth Rate (CAGR) of 2.69%, the market is expected to surpass $727 trillion by 2029. This transformation isn't being led by legacy investors or traditional property moguls. It's being driven by a new kind of buyer: younger, more global, and relentlessly digital. These are individuals who run businesses from their laptops, who treat crypto wallets like savings accounts, and who expect convenience to be measured not in square feet, but in taps and swipes. According to data from Elite Merit Real Estate, nearly 20% of recent high-intent buyer inquiries in Dubai have come from tech entrepreneurs, startup founders, and digital professionals. These buyers aren't just adding to demand — they're rewriting the rulebook of real estate in the city. An estimated $590 billion (Dh2.16 trillion) worth of projects are being constructed in the UAE, which is 15% of the overall Middle East and North Africa (Mena) total project pipeline value of $3.9 trillion (Dh14.31 trillion). Click. Buy. Live. To understand the extent of this shift, one must first look at how the process of buying property has evolved. The traditional real estate journey — weekend property viewings, stacks of paperwork, and endless back-and-forths with brokers — is rapidly being replaced by a far more streamlined experience. In today's Dubai, it's entirely possible to scroll through listings over breakfast in London, initiate a virtual tour before lunch, sign contracts digitally in the afternoon, and arrange key handover through a mobile app — all without ever stepping foot in the city. This seamless experience has been made possible by the rapid rise of property technology, or PropTech. In the first half of 2024 alone, PropTech startups across the Mena region attracted over $200 million in venture capital through 14 major deals, overtaking even fintech in terms of funding. It's a clear indicator that investors and innovators alike see the future of real estate through a digital lens. Buyers are now leveraging AI-powered search tools, blockchain-enabled transactions, and real-time ROI calculators — tools once reserved for institutional investors. The UAE, which now hosts more than 55% of all Mena-based PropTech startups, is quickly emerging as the region's epicentre for real estate innovation. Dubai's government is also playing a pivotal role in this transformation. The Dubai Land Department has introduced digital title deeds, secure e-portals, and more transparent registry systems — all designed to meet the needs of a buyer profile that expects every interaction to be digitised, secure, and instant. Dubai doubles down: The launch of Dubai PropTech Hub In a major move that underscores this shift, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, has officially directed the launch of the Dubai PropTech Hub. This initiative, announced during a high-level meeting of the Higher Committee for Future Technology and Digital Economy, aims to more than double the size of Dubai's PropTech market, targeting a value of Dh4.5 billion within the next five years. It also aligns directly with the broader Dubai Economic Agenda D33 and the Dubai Real Estate Sector Strategy 2033, which seek to position the emirate among the world's top three global cities. The Dubai PropTech Hub is designed to serve as a launchpad for more than 200 startups, attract over Dh1 billion in investments, and bring in 20 investment funds by 2030. It will offer a full-stack ecosystem comprising interactive workspaces, advanced incubators, smart outdoor environments, and testing facilities for AI-powered solutions. Sheikh Hamdan described the initiative as a strategic leap forward in accelerating digital transformation across one of Dubai's most vital economic sectors. 'Dubai has become a leading global hub for high-value investments and top talent, and real estate is no exception,' he stated. 'Through ambitious technological initiatives, we are laying the foundation for a fully integrated digital economy.' The entrepreneur effect: A new kind of living space The impact of digital buyers extends beyond how homes are purchased — it's also changing what kind of homes are being built. For many of today's buyers, home is no longer a passive space. It's a base of operations, a creative studio, a wellness retreat, and a social hub — all rolled into one. Entrepreneurs are launching startups from living rooms, pitching investors from their balconies, and shooting content from kitchen counters. In response, developers are rethinking interior design and floorplans. There's been a noticeable rise in hybrid living concepts, which include features like soundproof podcast rooms, ergonomic workstations, smart lighting synced to circadian rhythms, and even yoga terraces. Wellness and productivity are being baked into the very blueprint of modern homes. What's emerging is a new type of property: a multi-functional, tech-integrated ecosystem that supports a lifestyle of constant motion and high ambition. Branded living: Where design meets digital One of the most significant outcomes of this shift is the surge in demand for branded residences. No longer content with generic floorplans, digital buyers are gravitating toward homes co-created with global names in design, luxury, and hospitality — think Bugatti, Dorchester, and Armani. These properties are not just stylish living quarters; they represent an elevated lifestyle complete with integrated smart ecosystems, hotel-grade services, and cohesive design languages. From app-controlled lighting and climate to voice-activated concierge services, these homes are crafted with efficiency, elegance, and digital fluency in mind. What makes these residences even more appealing is the element of trust. Buyers know what they're getting —premium materials, high-end finishes, and an overall experience that matches their aesthetic and technical standards. Smart, sustainable, and self-aware buyers The next-generation buyer doesn't just care about aesthetics — they care about function, sustainability, and longevity. Features that were once considered luxuries — smart HVAC systems, solar integration, EV charging stations — are now seen as basic requirements. Environmental intelligence has become non-negotiable. Today's buyers want to monitor utility consumption in real-time, automate energy-saving protocols, and live in spaces designed to reduce carbon footprints. Developers are stepping up. Projects that incorporate greywater recycling, low-energy lighting systems, and sustainable materials are gaining serious traction. Some go even further by adopting wellness architecture — designs that enhance mental health, air quality, and connectivity with nature through biophilic elements. It's not just about living in style anymore. It's about living responsibly and intelligently. Hyper-personalised living spaces Mass-market design is officially out. The digital buyer of 2025 demands spaces that feel tailor-made. From lighting that changes with your mood playlist to thermostats that recognise your face at the building's entrance, hyper-personalisation is now a central design philosophy. Developers are creating modular interiors with flexible layouts, offering smart furniture that adapts to lifestyle changes, and even enabling NFT-linked features and virtual staging for customised visualisation before purchase. This isn't about showing off — it's about creating a home that is a true extension of the resident's personality and values. From real estate to real community Finally, the very definition of 'home' is changing. For digital buyers, it's not enough to own four walls — they want to be part of a community. Today's developments are focusing less on just having pools and gyms, and more on offering co-working lounges, wellness cafés, creative hubs, and event spaces. These are places designed for organic connection — a nod to the fact that today's buyers often find their next collaborator, investor, or friend just down the hall. This growing desire for community has sparked the rise of premium co-living spaces, especially in a city like Dubai, where ambition is as common as sunshine. In these developments, the lines between living, working, and networking continue to blur in exciting ways. Dubai's moment: A future that feels personal What we're witnessing in Dubai's real estate market is not a fleeting trend — it's a fundamental transformation. The market is shifting from being product-driven to platform-driven, from focusing solely on square footage to prioritising service, sustainability, and smart living. And perhaps most importantly, this change is being led not by developers alone, but by a new generation of digital-native buyers who are reimagining what it means to call a place 'home.' Dubai, ever ahead of the curve, is once again proving that the future doesn't just happen here — it's made here. This time, it's more personal than ever. What is PropTech? PropTech — short for Property Technology — refers to the use of digital innovation to improve the way we buy, sell, rent, manage, and design real estate. It combines tools like AI, blockchain, virtual reality, big data, and smart systems to create faster, smarter, and more transparent property experiences. From virtual property tours and e-signatures to automated tenant screening and real-time ROI calculators, PropTech is modernising the entire real estate ecosystem. Why it matters Streamlines transactions: Say goodbye to paperwork. PropTech enables digital contracts, secure online payments, and instant deal closures, no matter where you are in the world. Empowers smarter decisions: AI tools and analytics offer buyers insights into price trends, neighbourhood data, and long-term investment value. Boosts transparency and trust: Blockchain-enabled records reduce fraud and make ownership history crystal clear. Builds smart living: From app-controlled lighting to predictive maintenance, PropTech enhances day-to-day life at home.
