PropTech Tanzania: A Catalyst to Real Estate

Transcript:PropTech Tanzania: A Catalyst to Real Estate:
PropTech Tanzania: A Catalyst to Real Estate industry? By Felician Komu, PhD email: komu@majengo.co.tz Paper prepared for Presentation at the 2nd Annual Conference of the Association of Professional of Tanzania 26th-27th August, Verde Hotel Zanzibar Presentation Outline Introduction 4th Industrial Revolution Discourse PropTech investments in Africa PropTech Solutions to Real Estate Challenges PropTech Impacts in Real Estate Emerging Issues Conclusions PropTech Tanzania_ AREPTA 2nd Conf Zanzibar 2 Introduction Historical Account of PropTech Advent Rural Semi-Urban Urbanization Urban Renaissance Urban Dispersal 900 1350 1700 1969 Cyber systems Physiological Needs and Functions Social Needs Esteem, Status and Self Actualization PropTech Tanzania_ AREPTA 2nd Conf Zanzibar 3 4th Industrial Revolution Discourse What is 4th Industrial Revolution? Started around 1969 in USA, USSR & Europe introduction of Electronics, IT and Automated Production Developed into an array of cyber systems around the globe Building and extending the impact of digitization in new and unprecedented ways Has disrupted boundaries of knowledge sets across entire economies, bringing together the physical, digital and biological worlds. The Revolution has manifested itself in advances made in: artificial intelligence (AI), the Internet of Things (IoT), Robotics, Generic Engineering, Blockchain PropTech Tanzania_ AREPTA 2nd Conf Zanzibar 4 Source: https://www.proptechforgood.com/post/society50-proptech-sdgs PropTech Tanzania_ AREPTA 2nd Conf Zanzibar 5 Investment in PropTech Platforms Definition of PropTech? “…is any technology-based innovation or platform that makes planning, managing, developing, buying/selling/renting, and the usage of real estate more efficient, cheaper and easier at any stage of a building’s lifecycle…”(Rusin, 2020) “…Tech-driven innovation that is related to buildings and the real estate industry at large. This is tech that influences real estate in terms of design, management, transactions, investment or use…” (URERU & SA Proptech, 2019) “… combination of recent innovation technologies and solutions that optimise the creation and management of real estate…” (Unnisu, 2019) PropTech is redefining our practice: How we operate and interact Modifying traditional practices and services through technology advancements Creating sharing economy- Consumers begin their real estate journeys online PropTech Tanzania_ AREPTA 2nd Conf Zanzibar 6 Investment in PropTech Global PropTech investment, has increased from $2bn in 2013 to $18bn in 2018 (https://insights.thebaobabnetwork.com/50-proptech-property-technology-africa-market-map/) Investments in software/digital solutions to products and services for the real estate industry: Online search platforms ( e.g companies such as Digital Rental and Instant Property , which have developed online marketplace model that link landlords and tenants. Support the construction industry e.g project management software Start-ups in several countries that seek