Real estate is a relative latecomer to the digital arena, but significant advances have been made since the Covid-19 outbreak. Sarah Dea for The National
Real estate is a relative latecomer to the digital arena, but significant advances have been made since the Covid-19 outbreak. Sarah Dea for The National
Real estate is a relative latecomer to the digital arena, but significant advances have been made since the Covid-19 outbreak. Sarah Dea for The National
Hawazen Esber is CEO of Majid Al Futtaim – Communities
January 06, 2022
The Covid-19 pandemic has catalysed a new wave of opportunity for every industry around the globe. As the acceleration of the digital continues to disrupt every sector, the applicability of digital solutions across the real estate value chain is becoming increasingly evident.
Compared to the banking, retail and healthcare sectors, real estate is a relative latecomer to the digital arena. However, significant advances have been made since the onset of the health crisis when real estate players were forced to pivot rapidly to overcome the significant challenges posed by the lockdown. As a result, in the irrevocably changed landscape of the “new normal”, the industry is embracing the digital as the only way forward: a recent survey reports that 69 per cent of global real estate owners consider the adoption of technology to be a high strategic priority. As the post-Covid-19 horizon starts to come into view, so-called PropTech solutions – which include intuitive property search apps, virtual property tours, chatbots and transaction automation – are now commonplace, along with advanced customer relationship management tools for enhanced customer targeting and lead nurturing.
The criticality of technology for real estate growth is well recognised by the leadership of Dubai. As part of a raft of initiatives to support the Dubai 2040 Urban Master Plan, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, launched a new platform, Dubai Re-Tech, earlier this month to help bolster investor confidence. Driven by big data to enable complex insights, the platform’s integrated database allows for reliable mapping of the future of Dubai’s real estate sector.
In this new digital world, data is a valuable currency. Consequently, awareness of the ability of Artificial Intelligence and Machine Learning to enable more accurate market projections and better risk management investment is increasing. From the developer and urban planning perspective, putting the right seamless digital infrastructure in place not only helps to stay ahead of the curve but enables a deeper understanding of current and future supply-demand dynamics, while enabling efficiencies, decreasing cost overruns, expediting delivery and, ultimately, increasing profits.
Sony's latest entertainment robot 'aibo' is displayed in Tokyo in 2017. AFP
To drive meaningful outcomes, a primary objective of digitalisation in the real estate sector should be on solving real-world problems, which needs to be approached with a customer-centric mindset. From the use of smart contracts powered by blockchain technology that simplifies and speeds up asset exchange while enabling transactions to be made from anywhere in the world, to a raft of smart urban planning solutions that enhance quality of life and deliver outstanding experiences, the future of technology is entirely human.
A prime example of how the integration of human-centric and technology-driven solutions can promote inclusive, positive and engaging experiences is evidenced by something called Society 5.0. This is an initiative introduced in 2016 to transform the Japanese way of life by blurring the frontier between cyberspace and the physical space. Since its introduction by the government-run Council for Science, Technology and Innovation,, more than 170 smart city projects using advanced technologies such as AI, the Internet of Things and big data have been established in Japan. By balancing economic needs with pressing issues such as climate change and ageing populations, everyone benefits, and nobody is left behind.
Going forward, customer-centricity is the critical component that will fuel long-term value for real estate development. By leveraging real-time insights through data analytics solutions, a deeper understanding of customer segments can be gained, and customer behaviour predicted with greater accuracy. This, in turn, enables businesses to respond rapidly to deliver the hyper-personalised, seamless and frictionless experiences that today’s customers demand. In particular, personalisation is a make-or-break deliverable: research shows that 71 per cent of consumers now expect companies to deliver personalised interactions, 76 per cent of consumers state that personalised communications to be a key factor in prompting brand interaction, and 78 per cent are more likely to return to companies that personalise.
The next generation of developers will be those that can move in an agile manner across the capabilities of their connected platforms, with seamless data integration being vital to move beyond mere customer satisfaction to the consistent delivery of customer delight.
Digitalisation is here to stay, and every participant across the real estate value chain must either get fully on board or risk becoming obsolete. The big question is, are you ready to embrace the new digital era, rapidly and at scale – or are you resigned to fading away as a digital dinosaur?
Date of Birth: April 25, 1993 Place of Birth: Dubai, UAE Marital Status: Single School: Al Sufouh in Jumeirah, Dubai University: Emirates Airline National Cadet Programme and Hamdan University Job Title: Pilot, First Officer Number of hours flying in a Boeing 777: 1,200 Number of flights: Approximately 300 Hobbies: Exercising Nicest destination: Milan, New Zealand, Seattle for shopping Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been Favourite place to visit: Dubai, there’s no place like home
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2
Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.
1 Going Dark
A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.
2. Ship-to-Ship Transfers
A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.
3. Fake Destinations
Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.
4. Rebranded Barrels
Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.
* Bloomberg
UAE currency: the story behind the money in your pockets
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Tips to stay safe during hot weather
Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023 More than 3.5 million Indians reside in UAE Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
