In this interview Laszlo Fulop, underlines Saudi Arabia's attractiveness to PropTech companies, driven by flourishing real estate growth and infrastructure  expansion. AI emerges as the transformative force in the PropTech landscape, while sustainability is prioritized through data-driven optimization for energy efficiency and waste management. Data security and GDPR compliance remain top priorities.

What makes Saudi Arabia an attractivemarket for propTech companies?

The growth of propTech directly relates with thedevelopment of the real estate industry. SaudiArabia is experiencing a dynamic economic andthereby infrastructure expansion, as a resultof investment activity by public and privatesectors. The buildings that are currently inconstruction will be in operation for at leastthe next 30-50 years. To ensure this longevity,new technology is being used for efficientoperation and maintenance, such as optimisedenergy consumption and intelligent buildingmaintenance systems. KSA developers areleading innovation in design and architectureto achieve these aims and accomplishgroundbreaking projects – and technology is akey factor in showcasing market potential.

How do you see the role of propTech evolvingwith Saudi Arabia’s giga projects?

Due to very complex building managementsystems, green solutions, and data-drivenoperations, propTech plays a key role inoperating and maintaining these developments.An essential aspect is continuous training andmaintenance of these systems to fulfil theirfunction.

How does your company stay competitive in the rapidly evolving propTech industry?

Savills recognises the importance of propTech, and extensively utilises it in providing property management service to landlords. We offer a complete suite of solutions for operative function and tenant relations. The resulting set of property management tools supporting these functions not only provides competitive advantage to clients but differentiates us as a service provider.

Given our global reach, we have various local and international initiatives that leverage the latest tools to comprehensively track, analyse andshare information, often in real time.

How does your company deal with data security and privacy concerns prevalent in the propTech industry?

All propTech tools and systems used by Savills are GDPR compliant and meet local legal requirements.

Can you share the most transformative technology currently shaping the propTech landscape?

As with many other industries, the focal point is in AI and its transformative potential for certain areas of operation.

How does your company approach sustainability within the realm of proptech?

Sustainable operation is only achieved through very detailed data monitoring, analysis and optimisation. A huge number of data points are created to ensure the goals of sustainable building management are achieved - proptech solutions play a central role ensuring cost reduction through energy efficiency, optimised cooling, lighting and waste management.

This article was originally published on Cityscape Intelligence