The real estate industry, traditionally viewed as a slow-moving giant, is finally getting its tech-driven makeover. Across the globe, technological disruption is transforming how properties are built, bought, and managed. Enter proptech—the tech-fuelled transformation of property—and while Saudi Arabia is leading the charge, it’s not alone. From the skyscrapers of New York to the urban hubs of Singapore, proptech is reshaping real estate on a global scale.
The Proptech Makeover
For years, real estate lagged behind other industries in adopting cutting-edge technologies. But that’s rapidly changing. Virtual reality, drones, blockchain, and artificial intelligence are no longer science fiction—they’re reshaping how people interact with properties. As Ebrahim Baeshan, Office Managing Partner at KPMG Jeddah, explains, “The conventional processes of buying and selling real estate are being replaced by platforms and technologies like cloud computing, IoT, virtual tours, and blockchain. Digital innovation has sparked a much-needed shift in attitude across the sector.”
This transformation isn’t just about convenience. Proptech addresses critical challenges in the industry, from sustainability in the face of climate change to the demand for smarter, more connected spaces. It promises to make the industry faster, more transparent, and more efficient—a vision that’s being embraced worldwide.
Nowhere is the promise of proptech more evident than in Saudi Arabia, a country undergoing a profound economic transformation under its Vision 2030 strategy. The plan aims to diversify the kingdom’s economy away from oil and leverage technological innovation to reshape industries—including real estate.
At the heart of this transformation is NEOM, a $500 billion “giga-project” envisioned as the blueprint for the cities of tomorrow. Spanning 170 kilometres in Tabuk Province, NEOM is designed to integrate advanced technologies into daily life. Homes will run on IoT systems, public services will be managed by AI, and even delivery drones and air taxis will crisscross its skies.
“NEOM isn’t just a real estate project—it’s an innovation hub,” says Benjamin Blackaby of property consultancy Savills KSA. “Proptech will be the backbone of its development, offering smart, efficient, and eco-friendly solutions that redefine how people live and work.”
While Saudi Arabia is making headlines, it’s part of a much larger global movement. Here’s a look at other regions embracing proptech innovation:
New York City: The Data-Driven Metropolis
The city that never sleeps is also becoming a hub for data-driven real estate solutions. Companies like VTS and Reonomy are using big data and AI to streamline property management, analyse market trends, and optimize building performance. Meanwhile, co-working giant WeWork has pioneered the use of IoT sensors to create smarter, more efficient office spaces.
“New York has become a proving ground for proptech,” says Ryan Baxter, a real estate analyst at CBRE. “The city’s density and complexity make it an ideal testing environment for smart building technologies and urban mobility solutions.”
Singapore: The Smart City Leader
Known as one of the world’s most innovative cities, Singapore has fully embraced proptech in its urban planning. Smart buildings equipped with advanced IoT systems are the norm, and the government actively supports innovation through programs like the Smart Nation initiative. Blockchain is being used for secure land registries, while autonomous delivery robots are piloting in residential neighbourhoods.
London: The Crowdfunding Capital
London’s real estate scene is being transformed by platforms like Property Partner and BrickVest, which allow small investors to own shares in high-value properties. These crowdfunding platforms are democratizing access to real estate investment, breaking down traditional barriers.
“Nowhere is the promise of proptech more evident than in Saudi Arabia, a country undergoing a profound economic transformation under its Vision 2030 strategy.”
“Technology is redefining how we think about ownership,” says Riccardo Crescenzi, professor of economic geography at the London School of Economics. “Fractional property ownership is giving more people a stake in the market, which has the potential to fundamentally change the investment landscape.”
Dubai: The Blockchain Pioneer
Dubai, with its futuristic skyline, has long been a champion of innovation, and proptech is no exception. The city’s government has launched the Dubai Blockchain Strategy, which includes the development of blockchain-based property transactions. By 2025, Dubai aims to be the first city in the world to operate entirely on blockchain technology, including its real estate sector.
“Blockchain is making property transactions faster, more secure, and more transparent,” says Ahmed Al Tamimi, a real estate consultant in Dubai. “It’s a game-changer for the industry.”
A Surge in Investment
Proptech’s global rise is buoyed by an influx of capital. In Saudi Arabia alone, the government has pledged billions to real estate initiatives, while private investors are following suit. Asset manager Investcorp Holdings recently announced plans to invest $1 billion into Saudi real estate over the next five years.
Globally, venture capital funding for proptech startups is booming, with companies in the US, Europe, and Asia attracting record levels of investment. The appeal? A combination of scalability, sustainability, and the promise of disrupting a trillion-dollar industry.
The Democratization of Real Estate
Another game-changer in the proptech boom is the way technology is lowering the barriers to real estate investment. Digital platforms enabling fractional property ownership are making it easier for smaller investors to enter the market. Crowdfunding platforms are also gaining traction, aggregating small amounts of capital from numerous investors to fund real estate projects.
“Proptech is not just transforming how properties are built and sold—it’s revolutionizing who gets to invest,” explains Manika Dharma of Deloitte.
The Future of Proptech
The rise of proptech signals a turning point for real estate—not just in Saudi Arabia, but worldwide. In the kingdom, projects like NEOM are redefining what’s possible. In New York and London, data-driven decision-making and democratized investment models are opening new doors. And in places like Dubai and Singapore, blockchain and IoT are laying the foundation for a smarter, more connected future.
As Savills’ Benjamin Blackaby puts it, “Saudi Arabia is leading the way, but the proptech revolution is global. This is a pivotal moment for real estate, and the opportunities are endless for those ready to embrace the change.”
For now, it’s clear that the proptech transformation is only just beginning—and its potential to reshape how we live, work, and invest is boundless.