About the talk
The panel will look into how the property industry can overcome obstacles by using PropTech and help generate new leads & quick and easy decisions. And the impact technology has had on Property Management.
- Impact of technology
- Changes in the way we interact post-COVID-19
- What is the next step for technology in property management?
- Is there anything the government can implement to help the property management sector?
My core professional passions are technology and real estate. I have spent my career in the technology sector for over 20 years and have specialized in the PropTech industry for the last 12 years due to my passion and experience in the real estate industry in the U.S. and the U.A.E. Currently, I am the Director of Research & Data for the Property Finder Group providing strategic direction on real estate data intelligence in the UAE. In 2019, I played a strategic role and lead in the creation of the partnership between Property Finder and the Dubai Land Department. As a result, Mo'asher was was created which is the first official house price index for the Emirate of Dubai. In 2020, Dubai climbed up three places in JLL's Global Real Estate Transparency Index and further strengthened its position as MENA’s most transparent real estate market. According to the report, JLL says that Mo’asher was the most significant initiative launched by Dubai in 2019 to increase transparency.View the profile
Among being a board member and advisor of several real estate developments and investment funds, Fadi Nwilati is the CEO of KAIZEN Asset Management. Fadi a Certified Public Accountant licensed in the state of Colorado, and certified by George Washington University in the fields of Financial and Economical Feasibility Analysis and Real Estate Development Analysis. He brings over 12 years of investment and real estate experience within the Middle East. His vast experience extends over the commercial and residential sector and includes development management, project management, and investment management within the property sector.View the profile
I am a highly versatile, commercially astute CIO and IT Director with excellent leadership and organisational skills honed on leading businesses in the Middle East and UK. Displaying a target-driven entrepreneurial approach, I always achieve or exceed business targets and stakeholder expectations. I deploy advanced IT, telecoms and security solutions, and deliver value-added results with strong ROI. I adapt rapidly to change, introduce strategy, build mutually beneficial relationships and work collaboratively within a high pressure environment.View the profile
I’m a Digital Strategist leveraging Artificial Intelligence (20 years experience) and Cloud knowledge to lead teams to carry out Digital Transformation and AI adoption. My multifaceted experience in several functional roles (technical, business development, professor) and sectors (IT, consulting, publishing, academia, real estate) makes me the perfect fit to deliver Digital Innovation, being able to listen to different stakeholder’s needs and liaise with the more technical-oriented resources or external vendors.View the profile
McBride come to our first life panel discussion for the day. How proptech is property investment. So this is what the panels will be looking into today. And also how the property industry can overcome the obstacles by using talk text Solutions. And also how we can help them generate new leads and also make easy decision before we get into the discussion. I would like to quickly and use you the plan for today. We have it as mystified e on your reality, the CEO of Kaiser and Asset Management Services. Also joining the panel is the director of
IG Bloom holding and we also have because mr. Sergio nexi, the head of business technology to buy holding real estate that the session will be moderated by miss the net, with the director of research and data of property finder group. Did you deposit in your question? During the course of the discussion? And, of course, we do have a networking lounge or outside where you can take this discussion out there. Prostitution. Thank you Mega, very much for that. Very kind, introduction of all of us today. Our
goal is to make this session as informative as possible for all of you. So let me start with the first question and our discussions going to go out to all three panel members and I'll start with v e. So the first one is obviously you technology recently in the past few years has made a significant impact in a property management sector, especially with end-to-end Solutions. Tell me a little bit about this impact and how you start with in your business. I think the thing for the Nets and thank you everyone for being here today. I think we're seeing
significant adoption of Proctor. Expecially in 2020. Over the last 5 years in the industry was sort of adopting proptech. It was more of a trend among a lot of property management companies in asset management companies today. It has moved from being a trend to really becoming a necessity business. Necessity. I can tell you from our experience at the beginning. As soon as the lockdown hit us, we would immediately prepared because we were technologically advanced. Our customers were able to transact and Gage. These properties. Managed
their unit manager, transactions, digitally. And so our service providers in ourselves that that's a friend of hers. Were even remotely manage and monitor, the performance of the properties, and I can see. And this pandemic has hit us. You know a year ago were a couple of years ago. We wouldn't have been as a as an organization well-equipped to deal with it. Actually. I hope this answers your question. Yeah. Yeah, and I understand my videos Frozen. So I just I'm going to keep on talking and then in the interim try to fix my video
session. So I want to ask you Sergio. Tell us a little bit. What happened during the covid situation, and your solution that you have at Dubai holding our backbone. Is this a sports in Yardley? So we didn't change that as you can, as you can imagine what we did to wear seven and actions. First of all, we embedded digital signature into an into safes were. So now we can issue some of the some of the processes we can we can do those things which are, of course, requires there in less than three times and
the last 10 video papers. But in general employment solutions to avoid a manual contacts or form Sephora employees invoices, we enhance it. If you shouldn't pay make a video on the platform 90p, which is the store that we use to interact with the customers. Compass solutions to, actually meet the customer's to Visitor Center applying title for a title Deeds online. If you ain't throwing some online booking key Handover say orientation, appointment to see that, it says it's very long. So, of course, as you can imagine, we had a backlog of activity. Said, we were planning
to carry out this this year, but then Cody came. And so, weird shuffled, everything and we, we, we was busy say, how can we help X32 to minimize this? This impact the end and we, we started from there. It was, it was very, very interested to be part. Now you said reshuffle because we we also had the same situation or property finder. When when the crisis-hit. I mean, we really had to innovate and we had to be extremely agile. What was the top priority for you during the crisis when it came to the technology to visit to our Customer Center. So
we we from it. Of course. It's extremely easy to from one day to another to flip on the teams, start doing things in managing things from from, from HR from our homes, but it's not. So for our colleagues have to hang those Fish, Cafe first and and also for the hoodies who have to interact with customers for suffer. All those, those two employees from day. One day, we try to minimize the number of the number of visits. So that's why we unable to solution to minimize those visits. Very interesting.
Technology is nice to meet you all. And so covid, this is an interesting time. I've always been a Believer generally in anyway, and and evangelist promoting digital Technologies cloud-based Technologies, elastic environment, environment to have built-in business continuity. That's why we we had developed before hand, you know, S400 Cloud, sap, Real Estate, Solutions, Office 365, email, team collaboration with with migrated a lot of our technology and online in a process for a customer's Brian uses because
of, you know, maybe I reasoning was slightly different. I mean, you know, we we we weren't thinking pandemic. Thinking business continuity was thinking cost-saving, lucid dream thinking elasticity. We are thinking we should be in customer and making life easier for our internal stakeholders. We will actually be in developing Solutions. Even iot will look in the solutions into small building solutions for for reasons, other than the pandemic and endemic it in oversleep, you know, how to keep people safe. I'll keep the
business function and, you know, this is this is this, the top call is a business has to continue the people have to be at work and they have to be safe and and customers. And then people a interactions are going to have to be done in the Safeway. So we were very well-equipped tipped over a relatively seem to sleep without much difficulty. I know. And now I'm months into this pandemic. It's, you know, people we're here having virtual sessions and it's old. Sing a bit like The New Normal in and it's okay, but I ate in the in the early days. Yes. It
was a big transition. So much for it. You know, we had been using these Solutions beforehand. We are quite comfortable with teams and collaborations and video conferencing, but there was a big learning curve asking for a lot of people as they got familiar with the digital platforms as they you know. Maybe you know that they had some training to get more familiar with it, how to how to work with it, but they cool Solutions continued and they continue to work and and they serve this wealth and I supposed to be the fortunate thing. As you know, that the roadmap had been settled long before.
But, you know, since tender there is now a technology is seen as as as as the winner of the Super Bowl, every key area, in terms of how it can help businesses, reach customers, how you can continue to operate businesses, even continues to grow in This Day in History X and how we're going to be in this environment for a few months of all these digital Solutions on Bissonnet. Studying Sergio, I mentioned some things but you know, how old is even nice to have Solutions like old men to reality or, you know, your tools. As I mentioned a, I be in a
big data analytics become compulsory because the companies who have prospered and have a speedo continue to that businesses have been the distance to come just to, I believe I suffered a lot of disproportionately. So I'll be in the ones who've been too reliant on physical processes and physical premises, and and they've been enough based on restrictions, are people have been up to visit? Premises have been able to go to physical stores. Have disproportionately affected by this pandan, exciting as
well as they will be definitely stronger drive to get styes in areas of the business. Maybe haven't kept up with the pace in in terms of, What's the weather in Tinley within their companies or even against their peers are benchmarked against the industry until they pay companies who have actually digitizing now are reaping the benefits. Yeah, absolutely. I mean I can't tell you how I'm spraying for the crisis is that you either innovate or die and and if we clearly saw, it was so many different companies in so many different
industry. Even ourselves our property finder. We, we had to create tools that have never been created before and Industry. For example, we created something called live viewing and we were using YouTube technology. Our own internal technology. We did it within eight days. The team was working 24/7. And this allowed real estate agents to tour property in real time while the consumers sitting at their home and asking them questions and end. This really helped our business because people were putting offerings on these properties through live Ewing's. I'm also you mentioned big
data and obviously this is my background. We also started webinars and it was extremely data-focused. I would say, three quarters of the webinar was all about data and that was to help our clients during this pandemic. What were the trends? Where people shifting to what kind of units should you be focusing on face on the dimension and this really, really significantly helped our company. To question. What are some of the pain points that you found during
an IT guy? We will, we will quite comfortable with the shift to, to ditch, to let you know. We will live in that world in the way. Anyway, what, what can Global teams, you know, we are the ones that are looking at Solutions and we are implementing that mean are building a coyote in the machine learning, AI Solutions, work, quite comfortable. We've been doing this for the last 20 years working with virtual double-team. There's not anything you two to have someone like myself but it is a big
change for other people, you know, that we were talking about your son. Do you know, you know, you called me people physically, you going to collaborate a richly but share documents. You go to communicate with clients and and it was a no pain points. The initial, let me come over. So you have that the physical, you know, we have multiple lines of business. So did the very first physical thing was, it was, it was going to be a challenge in terms of getting people up and running and but to adapt fix beat that the pace of change.
Like I said, weird people like myself who win in the industry over 20 years. And we we we came from the Mainframe days and the days of the dawn of the internet and we seen this massive rapid progression and more slower and the doubling of you know, I T compute power every couple of years. And so it's okay, but this is a big destruction to people who are not from technology background and Aunt Roxy and construction generally buildings have been built the same way for hundreds of years, a few changes and tools. Now suddenly you what you put in this massive search
of our offer of change and and it said, it's quite unsettling. But you going to be, you know, that there's always that change management of people being afraid of you change and then you know overcoming that cabin and it normalizing and and it's amazing. I think the people today are so different from the beginning of the year that nobody saw and visit the standing McCartney. Nobody stole that it would be going online and digital by the end of the year Laclede place like the UAE did have a mission to go paperless go online, go digital, but you know that there's a lot of practices signing of
signature. Document is a little physical. So I just wish you was for Preview Properties has a lot of physical interaction this world. So yes, she thinks that digital mindset that destruction, that changed that they win the the biggest challenges. And obviously, you had other things, like logistical challenges of the equipment or supplies will be affected. Because, you know, that the movement of goods was being affected by, this is why it was so important. Like I said to put the funds in beforehand. If we'd had to How much Reliance on physical infrastructure, physical service,
physical, physical movement of goods, movement of people, already suffered and animation. Another perfect example, the whole point was to try and pick up energy, efficient try to save remove the need for repeated visits to buildings for my facilities management maintenance team. So the whole idea was to save energy. Become also benefit us in a pandemic situation as well because we eat a all those same things, apply to a pandemic, you want to reduce the news about people, you
know, you still want to save on Energy Efficiency and cost cost cutting, you know, it is an important thing in cost control is an important thing and you won't even insights and analytics and and being able to predict when something will happen rather than having to go movies. Phase 10 times a day. So I think the idea is that you have in terms of digitization and a swishy, pro-technology taking a much more important role as well, and it will, I believe will continue to do. So, they will serve you whatever the situation that does a couple because you can't, you know, prepare for a pandemic.
Nobody could have prepared at the beginning of the year. That, at this time of the year. This would be happy enough for everybody really of God. And I think having some resilience, having those kind of Solutions in place of a highly resilient Walden Legacy systems Legacy to the practices upset except companies that did it very well. Thank you Mubarak. I'm just really quick. I sorry, I'd I realize my videos not working. But at least you can hear me. And I don't want to mess with my laptop too much in case of dropping off. And also everyone out there. Please send your question. Very curious to hear
your thoughts. And what everyone on the panel saying now. Sorry, let me ask you now. You said that basically before the crisis started that, you had your systems in place. So you guys ready now? What challenges did you face? To be honest, as I listen to Sergio talking about you shuffling priorities. And then also where we would we would I would say lucky about at the end of 2018. We actually work on a project internally called project mc2 remote and the it was
more of research and development. The purpose of that project was for us to be able to manage properties remotely and to achieve both the resident manager experience remotely and that includes engagement and transactions. And then the second part was more of a performance property performance was at a service company will still responsible for performance, regardless of pandemics, for example, and in November of 2019, with concluded the project remote. We had implemented it in free fire. Projects and we were able to
completely managed projects remotely for a period of six months. So when the pandemic hit, we were actually lucky. Because we made it. We just implement the project through a word about the main pain point. We had our city was with the end users with customers with tenants about 70%, were happy. Immediately adopted digital transactions. Digital engagement. There was about 30% of customers that still pretty face to face, that still prefer to have the physical release agreement. For example, you spoke
about making changes the next immediately during the Titanic at property. Find it a couple of the issues. We haven't had that we have to react immediately was for instance, decent. We were able to Jordan lockdown. During the first two weeks of lockdown. Only because we were digitized, and because we were able to have the entire end-to-end process. Being the second part of the Second Challenge we had, was with a lot of people staying at home and staying in the buildings. We expected a surge and utility bills and utility bills consumed about
thirty to fifty percent of a building operating costs. So immediately have to have more instant access the daytime with instant access to, for example, which floors were unoccupied on our platforms and order to control Cooling and control Lighting in a more efficient manner. And those buildings in order not to have a search and utility bills caused by the by the $10. So we did not have Availability of things like utility and about 30% of the customers. Did not accept digital transactions. Were, these were the two main points that that we had.
Well, I'm surprised to say that 30% did not accept online transactions, cuz we were all in our home. We really couldn't do. Anything is the solution and hopefully they're the future where we're going to be going here and Dubai with new developments. Sergio. Let me ask you a question. Where do you see the next steps of technology in Property Management? Okay. So I'm going to answer this question more broadly in terms of real estate versus specifically Property Management. So for sure direction is going to work on a station. So we see
the market is moving in this direction and basically, to offer fractional ownership of a unit. So, instead of investing in a single, in the single unit. You can invest in a third of a unit. And then, you know, you create your own portfolio is not ready yet in the region, but we're getting there. So I know that the government is working on on this. And there and I need another country. Is this thing is writing about some experiments. Egg experiments were done last year, 2 years ago. Now we have talked about. So we have to talk about project in the several
billions. Okay. I'm talking about billions of dollars. So it's no longer an experiment. It's really something that is picking up with quickly. And so I think that this this will also happen in that. You know, how exactly does this is going to be interesting to see what is there be a single platform for the second week which will be basically on by by the government. Or maybe we'll see, we'll see if he is several several passers-by by several companies and what what is going to happen with the primary placement? So it's going to be very, very interesting to see exactly
how it that the really better. But for sure it's the, it's if you should at least when it comes to the investment. Now, when it comes to the Property Management De Pere say, or the extraction of value. Then we are seeing some, some changes are also to be in order to boost the revenue City Kansas from each each unit. And this is so so tired with the creation. So if we could have a conversation and then those properties are managed, not buy nothing but a short short rentals or or similar products. It might be very interested
because we might offer some products that have you know, what year it is so high. They did would it would break the barrier of this of this the resistance the worst in you and you know that basically he's there because we know that they need you there with another Marcus, Dairy are there and they are very very well that was computer in the region. They didn't start very well. I can say I'm not going to detail, which one is better for the, for the region to skip that step in
NL together. Basically towards the water circulation straightaway. Okay, and this Intel ch7 advantageous for the end users among which is a more liquid Market it as soon as the secondary market place is in place, and also, it's way less cumbersome into the ticket price is lower. So definitely, that is something that is is happening in the we have any decision as well as across the globe. Yeah, I agree with you Sergio. I, I know we're starting to see a few platforms, come up with the fractional ownership. I know they're being governed by the dfsa
and it's it's, it's good opportunities for someone who's just wants to know what we were little bit of cash, get into a property Improvement. I think at the moment, you met there, a little platforms and solutions out there, that particular problems and in real estate Asset Management, other parts, I think the future, I'd like to see is a future that's more integrated Within These platforms. And what we see is not platforms. Actually accepting of the idea of integrating with us because of the stage of where droptek is at at as an industry. So it's normal
to have things built inside of it, but I would like to see them integrated as we move on. And I think the second thing is Big Data and I know you were a special feeling that I do believe that our property management in particular. Can you hear me? Sorry, one second. I lost Mike with you. We can hear you now. Okay, where did you lose me tonight at the day. Okay, so I was saying, I do believe in that the big data will drive and the solutions for the inefficiency. We have buildings to uat in general has very high operating costs and buildings which you do end up being high
service charges for property owners or higher or lower yield for property owners. And I think only with big data and talk with data analytics that we will be able to have veteran efficiencies and reduce operating costs and items. I think Friday, I think Lynette's is just dropped off. So I lost the Christian song you sang by analytics and stuff. How about other areas? Are you finding that? There's actually a big push to a lot of solutions. Maybe we'll just left it
in a vision centers. Are you finding that that you know, the stuff that we were says your messenger? Interesting things in closet organization in blockchains of the loss of this sort of ideas in terms of a RV for the research ideas and you know analytics machine learning. And I are you finding out a big push to drive from your side to to put this Total Staffing. Definitely do believe there is a big push. But again, I think everyone is working in silence. You know, what, what I would like to see if I'd like to see the resident experience connected with IRT. For example, you know,
we're not there yet. In terms of integration swear by today. We manually do it. We find out we were unoccupied in a property and we instruct the maintenance company to go and change the temperature or the lighting structure in that in that store in the weather. Turning the lights off for installing senses. We are not there yet, in terms of connecting occupancy, you know, with IRT in a property. So that the party would take the necessary action on the fluid of turning the lights off or changing the temperature
in the floor based on occupancy, later, that is feeding in from releasing platform. For instance. That building that particular problem selling it back to you play. So sorry, everybody. Okay, I don't know. What. Where were you guys at. But I did have a question for for Sergio. Now that you guys do by holding has merged with miraz. What type of Integrations? Are you planning? So, it's going to be very interesting because, even though we are doing the same business as sometimes say, we are doing that for even the same platform. Sometimes we don't. And even when we are doing
that on the same platform, as you can, mention two processes are not exactly the same in. For sure. Each of the steps of the process is is is different sometimes. Okay, you you have I do know a drop-down menu and you have different tastes very busy, very busy example, so basically what we did it was we let delete this from from ID. So what we did was that we went through all the processes and of the Sexes of each of the process is both for a beef to sell and or land. Because as you know, we also sell land and they and they both formulas and the Dubai properties.
And then step by step with went through each of the steps with the business. Say, hey, this is, these are discrepancies between these processes and blue steps. So what do you want us to do? What do we take it to the DP way? Then you ask. Play something in the middle of something new all together. And so it was a very, very thorough physical exercise that we did, and it took us several months and enough of that. Now, we have a clear understanding of exactly what we want to do. So now it's the, we just finished the effort estimation, and so it means that we now know what you need
to do to exactly changes things. And when those things change, because as you can imagine, it's a whole chain of systems rice from from Salesforce to yardi to d. I p in those the other color, it coronavirus has been around those. So we have to make it a shift to all of those and we can adjust move one. So this is what we are now planning and the plan is almost complete and would be off around it. So as you can imagine, it's going to be and it has been an interesting planning better during the pandemic when we have to manage the additional things and very shocked by the offer of everything
and why we were launching the new project. The business side. Okay. I'm not talking about the IT project. But we just launched a lot of us at 3 at Villanova which was launched yesterday. So as you can imagine we have to change something from the it side and supported the business Alyssa from from Seaside. So so but so far so good. So we are going to be able to do a job in other mature, real estate market. What type of technologies have you seen in other markets that are not yet here in the UAE that you think that
we can benefit from? I have to believe that the UAE is actually very good in terms of Technology. You know, I don't think it's really far behind in terms of Technology. It's accelerating in a very, very fast way. So I mean, for example, the UAE, be blockchain-based, Society, paperless Society, Sergio's mentioning tokenization. You can. You could have ditched the lightest, it opens up, lots and lots of opportunity for the market, I mentioned about iot, but looking at smart cities, you know, in terms of developing small cities in the future, you know, you could have drones that can have
small, Waste Management systems that could have smart animals cause and vehicles. In my view. I don't think it's it's particularly behind in any areas. I see there's a lot of interesting friends out there in France. Cities and how to develop in the region it. So it's really I believe for the leader in in in the in this area is really just a little government support. Lot of Industry support for these Solutions as we develop them. That's my personal you anyway. Now you just mention government. Is
there anything that the government can continue to do to support the property management sector to help it may be in Implement new regulation and maybe help with some parts of the digitization. So a government stimulus packages in the industry loans that side of it which which I think is is very helpful and you have different countries doing different things to support the industry, may be so, you know, help in the store for wages or you know, that some sort of skins that
they have and then you have the regulatory aspects and and very interesting thing is, you know, this making fantastic changes like we need. Is it saying that? You know, how many more people in Dubai can have the golden visa? For example, so it's actually a real requirements. Are they need to be so comfortable that they can stay here for? Five or ten years. So it's making positive changes in terms of a know, what attracts investors. What what helps them in terms of the digitization is one of the most important things in terms of takis sport of the technology startup ecosystem and industries
and is going the long way in terms of changing. Some of the slowest was bankruptcy. Something may be making it easier for a corporate entities to be set up all the pills that you need in the digital ecosystem, in terms of Financial in terms of Business Park sport as a research paper on this thing. And it is one of the leaders in the UAE in terms of all the pillows that you need for digital startup ecosystem. And I think it's fun. It would really help accelerate
their jobs and help accelerate the set of solutions for for companies that will help make customers life better. It will make sure you leave the property in this industry, which is a very, very important industry and a contributor to the economy grow or so. Thank you. Let me ask you a question in your projects. Are you using any new technologies or Technologies in a different way? Maybe you had to pave it and how you use them? I wouldn't say. I would say,
for instance. We lost an app for your, for our tenants and residents, and we realized that the usage late on the app is about 20%. And in the UAE in general, the average activation page about 40%, So WhatsApp integration with our platforms and with a sharpie and black Salon because customers have you, no find it. A lot easier to use and right now our usage rate is about 98%. So that's the only man on the topic of government support the next. When I, when I talk about the 30% of the customers that appreciate you, and I think the government can help by educating,
everybody example of agreement. Is a receipt is an electronic receipt accepted. You know, except it doesn't hold the same value as a physical doctor because that's what we sold. We would sign lease agreements to Knollwood fine now and we've been doing that for a couple of years, but we always have customers that come back and say no. I want to see your blue planet because we are not sure if this stands and in the court of law that the government can help
with education and the second part is, you know, Dubai and the UAE wants to be at the Forefront being smart at the same regulations around. For example, using LED sustainable LED lights in in place of the old lights in order for us to be environmentally. Sustainable on March 4th. I would like to propose that the government has many men iot requirements connected and in in buildings. Related to utilities, may be related to Chili's because that's where we have the most inefficiency, or
maybe a little bit of push on to, that will help the city become become smart as we move on. Yeah, I absolutely agree with all the points that you bet you just covered, especially on the government part for it. For me, what I realize, what a kind of the government has just been so proactive and amazing during this crisis. But one thing that I learned is that if the government enforces it, so meaning you have to do it. Digitally. You have to get a digital receipt. There is no more paper. I know we're going to the paperless. Well, I don't know about that because of the crisis. I
don't know if it's been pushed but we had the the paper list 2021 from smart to buy. I know recently I had to do something for it because I wanted to be on the homeowners association association of my community. I was forced to do it on a Dubai, rest out. When I think for us, I really just wanted to send an email saying, okay. I want to be a part of it here. My documents in and that's it. But no, I had to go to the virus app. I had to upload my documents. I had to wait for confirmation and that was a way of changing something that takes an intense. Time during email into
takes people on the other end to having something beats. Digital Spy. I completely agree with you on that one. Let me ask you, are you it is is Dubai holding using any new technologies, or did you have to kind of pivot your Technologies during the pandemic night? Just not text you today. It was for of course. It was a in embrace it in terms of Enoch increasing the video, conferencing to send all those BPM certificate which was more for the internet users than the external use it. So the challenge is, there were more in terms of the adoption which was lacking before
and then skyrocketed, the way from idea to support those people. It was, it was mentioning it before. So we hid at being a used to that there for forever basically, but but I know people coming from Apartments today we're a bit reluctant in this pandemic, a really have the if there is a good thing of this pandemic is what he pushed the digital transformation, a completely Saudi. If it was there that we would have already ready. It was just a matter of adoption rights and now and now the adoption Gambino like a defective thing. So that definitely helped the
pain management understand it actually it's it's definitely something that we can do, almost everything digitally and then definitely that is there is no hindrance in delivering projects. And in the in in the any we can even change it several of the physical activities to where it's at the word set. A digital watch. We also have implemented, the charcoal toothpaste on WhatsApp. So embarrassing to have to work. This body was mentioning and that it has been received a very very well, so it's not like it's got to be placing things. We are simply adding stuff onto our Christmas tree, right? So they
can And we're adopting this cleaners Christmas tree with you with new gimmicks that are actually useful for the user. So if you still want to use the old style app that you can do that, but also you can interact through new channel. So that it's a matter of availability of new of new technologies that are there and which is the user. It's going to be it's going to be jumping on one or the other but I would like to reiterate it what what was mentioned by 5 or before that? It's extremely important for the government to stress on the cancer because from the
point of view of the legal framework, there is no discussion. It's there a minute, there is no reason. It is not like we have to discuss about this. So it's there and has the same legal requirement. But then, when you going to court and its peak, the judges, then the situation is slightly different. Because we have seen that there were cases of some some disputes there. And so Judge, usually appoint two Sundays ago. So it's not like we are guarded. It just say if you sign the AAA in digital contact. Hey, I know
the difference is Adobe, they offer legal services that this is actually what I've been told. They offer legal services, and support RI in case, there is a dispute. It on a contract between side that using their digital class,, Okay? Still to be should be done in that respect and then the other part that would be when it comes to the deterioration of tokens. And then we simply need to finalize from the perspective of the legal framework. I know that they're working on that. So it's not like they say they are not doing that, just getting there and the end it's important. And what I
would like to see What's the derivation of the secondary Market? Because that is what will really give it is going to give the impulse to the two-day liquidity, which is the main reason for which you would step and invested in a, in a in a token, vs. Ares, princess. Yeah, I was absolutely and I wholeheartedly agree with both of you about the government enforcement, and I know that they are, they are working on the house with them and think. Hey, so, they're constantly trying to get feedback and how they can improve the process has.
Now. I found it very interesting that bowls used Sergio and Friday implemented something so easy as WhatsApp. And it, it really made a difference in your business and we did the same thing and we were like struggling. Okay. How come you prune gauge on? How can I improve my leg? And it was this, what's up at RB to be as well as rrb to see app. So sometimes it's the, the easy things, the things that you don't think about that. Do you make a big difference? Okay. We have a few questions here. If I can just take some time. First question is for foggy,
says, I'm curious about pain point that you mentioned. You said there was a digital acceptance. 8 of 70 30% as we cannot predict the future with pandemic. I was wondering what will you do at Kaizen in the future? I didn't get the question. What would we do to you. To convert the 30% or yeah. Mike, is there anything that you can do a Kaizen to try to convert that 30%? Obviously, we spoke about the government but is there anything else has that Authority is going to 2928 Etc. I don't think will ever
achieve 100% but it is improving and I think the reason it's improving is word-of-mouth between our customers, make them, trust the digital platforms, make them trust the digital ecosystem. So I I don't think we can do a lot more from our side at the moment. I think some of these things just take time to be to be of acceptance among everyone. Great, same. So sick kind of questions. Obviously this resonated with people same question for you Friday, but their question is is would you try to focus a new generation of tenants that would
naturally accept new technologies. Yes, with the wood would love that. Actually, we're doing some work. I don't want to reveal too much, but there were doing some work on access controls in, in, in buildings as well. So that your entire Journey from the leasing your viewing, the property cuz we will go digital locks them from giving the property to lease can get and to managing your journey to actually engaging with title X is old digitized to the point that you don't even need an access control, a remote control. So, yes, we would, we would love to but
why is a very Diversified City and also age group? So we actually need to first name and and and do well on serving everybody's basic needs and then we can slowly become more advanced. Yes, I agree. I'm actually I just got a question on my WhatsApp for you by the end of this into what you just said right now. He's basically saying that right now. When you're in a community and you even though you have that app, it's not streamline. He saying that it takes time. Like, for
example, if you want a vendor to come in like a cleaning company or a contractor that they're out of the loop from the apps. How do you bring them in? So that, the, so that the tenant is not disturb because obviously, was the time that they come during the day and, and we're at work. So, how how do we stream live streamline Defenders into the app? So that's definitely part of control for the Gipper talking about the phase one of it today actually aware that service providers that the maintenance security and cleaners. They have a free app that they use on a daily basis. It's
called Report app and it's made so that when we receive requests from tana and swollen up, even when our team goes and starts the property, all of these issues are raced onto that platform. Now when it's when a resident racer has an issue on WhatsApp or on the online instantly goes on to the maintenance companies site manager, on site with an image of the issue or a video of the tenant or landlord sent us an image of a video. And it it doesn't exactly where it is and are prepared time of visiting with enhancing more on to that.
But at the moment with finished, basement has been used for about a year phase, two of that will be If the owner or tenant has the digital locks, and they are okay with Brooke, providing access to the maintenance company to visit the property without them being available about that. Part is under piloting test at the moment. We're not there yet. And what is this service provider is not on your list. So, like, let's say, for example, I want someone to come to my house to do my hair. Did they, they need?
What do you do in that situation? Backwards is the guitars loaded. They actually go online to apply for a work permit and they get it instantly. And then the security in the property, has attacked every security officer. Norman has a job that's provided by us, where they can see that, the service provided has an approval already to access an hour approval rate has went down to about under 1 hour at the moment. But yes. That would answer the question. We have another question is from a Anonymous
person. So I'm going to ask mubarek this one. What changes would you like to see in the near future and Property Management? So, you know, some very interesting points that are you coming to the end of the session, but, you know, I would like to see changes that people have mentioned. I'd like to see you no more use of the Holden today in process. Typically from, you know, the recognition of digital signatures from the whole viewing of the property to the actual whether it's a RV or type viewing
solutions to the the the whole summer sales process of releasing process of like to see all online and display a state-recognized, you know, maybe even the funding of the properties. I said, you mentioned some great things. I can be used it and an ultimate going down to the ddn customer, you know, I'd like to see them benefit whether it's for Energy Efficiency in their properties or, you know, Smart Homes in in terms of Smart, Home Solutions, in terms of what will be implemented within properties. And also on the wider wider. They live in the I like to see the smart Solutions in
place that you know can't help things like a solution likes, you know, small Waste Solutions in Stockton and the area to see if there's any issues in a mocking area code like to see it is a lot deeper into the fabric of society. That. That's what I would really like and I think we're making great inroads in this really interesting in this time. I don't have any interest in robotics companies, finish his company's, AI companies, Big Data companies, the
stuff up top and and offering solutions that you know, what does seem not so practical a while ago, but now within the speed of people staying at home and making use of their their space in the houses or offered some very nice inside sand. Big data analytics AI in terms of people getting a property, not just about what it is, what it has, or maybe a lot more richer kind of sense of what, where they want to live. What kind of Lifestyle they going to have a lot more Defence of the person who reaches out to be involved than just a generic
has a property in this place Alamo personalization, in terms of searching for property in the compressor is out there like to see them so they make their way into society, probably to the average person like like a vision in the sky, but in all reality, every single thing that you just said is absolutely doable, especially here in Dubai. I mean to buy is probably one of the most advanced technological cities in the world, they've accomplished so much during the pandemic. We saw with the land apartment did with
transfers. And I think, as you said, we kind of A lot of things have been pushed forward when it comes to priority and importance. So I definitely do see this coming and your future may be the next 5 to 10 years to be quite quite excited at the same question, from your perspective. Where do you see? What word would you like to see it in the near future for property management in general instead of the environment? If it's something that I think that he needs to catch up there and so did he see a huge opportunity? I understand that managing managing a city like this is not that easy
but some incentives in the sense of what was to measure / Friday, like I mentioned in managing the air conditioning in an egg. Is not only way to save money, but it's a way to stay there by time. I try. So, I would like to see more actions that are oriented toward the environmentally friendly. Activities could be done by, that could be done in terms of, you know, solar panels in those things, which is different than, okay. Let's set up at a solar panel field of one gazillion gigabyte. It's, if there is something that, of course, it's nice
to have, but if we could also do the same thing at the level of the, the single going to be in an in an apartment, right, but it definitely can be in a in a villa or in a townhouse. So in this case, if we could see if push in terms of digitization of energy production in energy consumption, I think it would be beneficial to both for the grid for the pocket and for the environment. Absolutely. I received done in some other cities around the world. I believe. The next session on this platform is talking about renewable energy. So be very interesting to hear
what they have to say. And what's being done here in the UAE in regards to it. I do see, you know, some solar panel projects around but it's not enough. I mean, we definitely need to be more proactive and taking more with an urgency when it comes to renewable energy. I think this is how we going to be our last question and I will bring it to funny, since you mentioned big Backstreet. Everyone must have mentioned the day. But he's asking how, how will Big Data reshape the property management industry?
I think big data will help understand the correlation between occupancy between the type of the building residential and Commercial between the type of equipment used in all those that are connected to District, cooling versus Chile's versus split AC unit and buying all of that up and understanding what is the most efficient design of design. But way of operating a I'll give an example. Today. We have 2.4 million data points that were trying to analyze and understand correlations from but it's not enough. The
data actually wasn't enough to need at least. You would know better. I think so, I think if we had access to data Thousand buildings in Dubai, would be able to understand the correlation between occupancy and utility billing. And so long. As you know, the moment you have access to organize good quality data, sky's the limit focus on heavily. Like I did mention earlier during our, when the crisis started our webinars were heavy, heavy database. And this is the first time that we went out to our clients to the real estate brokers and developers with
so much data. And in the beginning, they were not used to it. And I've been in the date of business here for now, six years when it comes to protect and what we learned very quickly. After that. I would say, the first two webinars is that people started to catch on it and understand how they can use the data. So, for example, one thing that was Any valuable to our clients was what are people searching for today? Very, very simple word League going to what kind of pine trees are they going to? And what we found is that everyone started looking for open space Backyard Pools and Willis.
So, we had a huge shift of searches going from Apartments, which was always predominant to Villa townhouse, literally overnight and it caught our clients who were focusing on apartments to start focusing on Villa townhouses. And now today, as we know, we've had a 500% increase in transactions. So it is the dominant ask the class currently in the market and it's something as simple as just looking at 1, datapoint to kind of get to wear that the answers that that you're looking for and that's just the beginning. And like you said body, once we have millions of data points of
four buildings across the city, and this is something else that the government can can help us. With this is something that the Man helps us with our property finder when it comes to sales transaction data, the more data that we have, the more we can help the community. The more that we can help with urban planning with sustainability, and just making Dubai, the most attractive City for foreign direct investment and I think Mega do, I have more time. 205. I think that's when an end. We are almost done.
Can I ask another question? Okay. So on the topic of a big data, which makes me very excited for the most talked-about data, Sergio. Tell me, how do you use your data that we are? We are exploring the possibility of generating The rosters for the blue colors for each other, about the security people Etc in using a. Okay. So as you know, having a background solving that problem when we are talking about thousands of thousands of employees and everything else. There is a problem with it easy. As we say, NP complete. Okay, so it's a promise that you cannot
expect. You can ask it. Different abilities are those, a termination combination sit and do I go in, in, in, in human life, even with the most powerful machine. So what we need is it? We approached I think using genetic algorithms. And so we are a generating. Now trying to generate roosters using genetic algorithms to optimize their organization CLC, make the life of people better because it's better. If a person is utilizing the most efficient way you guys in the sense of not being bounced back and forth, back and forth between several buildings, but it's used in a male in the most
efficient way. It is. So better for the employer, it is inside. So we're doing and of course, as you can imagine we are doing some lead scoring analogous. So we are able to cater for the customers, the secret classified as more hot. Let's see. It first. So they wouldn't see the call earlier, it versus clients that we would classify and not that hot based on several factors,, which do you like them? I might not say it. But, you know, the time of the day, when you submit delete that is statistically significant Security benefits. Morning, is it that
we can detect that you are actually more interested or basically, you are basically surfing the net and then you have some spare time in your pic. Yes. I'm interested. So, this is something that we are doing is proving very, very valuable. Thank you, Sergio. I'm actually, I need to wrap this up. So I would like to thank all the panel members, Sergio Mubarak and Friday. Thank you so much for your time today. It was extremely insightful and I hope we can continue this conversation, especially with government because that's where we can really make a difference. I thank you everybody for
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