The On-Demand Consumer in the Middle East
The PropTech Middle East 2018 event took place in Dubai from the 29th — 30th of October of last year. It is on track to become the region’s leading event for property and real estate professionals to share their knowledge, and discuss the emerging technologies that are currently shaping the industry.
All panelists were asked some general questions so the esteemed event delegates could understand how each sector and company functions around the same themes. The aim was to develop an engaging conversation between knowledgeable and passionate professionals.
One of the panelists was Amine Housni of Blueground. As Head of the Middle East Region, Amine had the opportunity to introduce the company’s vision to make people feel at home wherever they choose to live. With a presence of more than 400 apartments in the UAE, Amine was on hand to explain how Blueground is disrupting Dubai’s real estate industry
Founded in April 2013, Blueground began in Athens, Greece and is now thriving worldwide. From San Francisco and New York to Istanbul and Dubai, its portfolio spans across three continents. As a company, we offer beautifully furnished and thoughtfully equipped apartments. In the most sought-after areas of cosmopolitan cities. Targeting renters looking for mid to long-term stays of one month, one year or longer, such as business professionals and digital nomads, there is a niche market that is being tapped for the first time.
Staying in a hotel for brief periods of time is fun, and may feel luxurious. However, after a while, there is too much repetition and guests develop the need to feel more at home in their environment. For business guests, we’re providing a more spacious, lower cost alternative to a hotel. Our use of technology caters to smartphone users, having engineered an app in-house. With just a few clicks or taps, guests can request cleaning, maintenance or even access a neighborhood guide.
Today’s typical Middle Eastern consumer has become one for the ‘on-demand’ lifestyle. Everything is instant, and convenience has become priceless.
At Blueground, we provide the consumer with the opportunity to instantly book what he/she reviews. Payment methods and packages are all outlined through the website in order for all the information to be gathered and clear. In addition, at Blueground we aim to take all procedures online.
From contract to feedback forms, everything is reviewed and saved online. 3D Floor plans and virtual reality tours are the next big bet for Blueground. VR is an exciting new technology that allows the real estate industry the ability to tell a story like never before. It’s a piece of technology that doesn’t require breaking the bank and can be easily integrated into the company’s existing platforms — all while increasing sales efficiency and without having to hire more staff.
Below are some of Amine’s answers during the discussion:
Q: What are the new expectations of today’s consumer?
A: “In today’s world, everyone is looking for innovative solutions, live results and valuable feedback. A demand needs to be answered as quickly as possible and the rise of new technologies, as well as the pivotal role technology has in our lives now, have a major say in that. So, efficiency and responsiveness are two keywords that we need to focus on.
In line with this, Blueground uses technology to connect executives, expats, and other travelers with fully furnished apartments for mid to long-term stays, and simultaneously makes it easy for property owners to maximize their annual yield. We lease carefully-selected, high-quality properties in the most sought-after locations on a medium and long-term stay basis to professionals and individual travelers. Our in-house interior design team works with individual owners and developers to upgrade properties into best-in-class apartments, ensuring a premium experience for renters, and boosting revenue opportunities for owners by offering a guaranteed steady cash-flow to maximize the property’s annual yield with 100% occupancy guaranteed.”
Q: Dubai attracts a lot of international buyers to its property market. To keep the interest going, what are the strategies adopted by developers and realtors to attract buyers?
A: “The UAE has already introduced new laws this year that effectively widen the range of possibilities for expatriates to be more deeply involved in the long-term economic growth of the country. Many of the policy changes mainly concern foreign business ownership, visa regulations and curbing the cost of living. At Blueground we make it easier for any international buyer to invest in Dubai real estate as we minimize the hassle that relates to property management. Our on-the-ground support team handles all maintenance issues that relate to the property and the only thing requested from the owner is a bank account in order for us to pay the monthly rent. Moreover, developing an online product that includes A to Z services for consumers is a successful strategy to attract buyers.
Q: Technology has permeated all aspects of our lives leading to consumers having high expectations of ease and convenience. To deliver these expectations, how can developers innovate or what can they do differently?
A: “Needs and interests of this ‘on demand’ and tech-savvy customer can only be met by understanding the market. Consumer expectations are increasingly driven by technological advances, so being able to accurately predict the next wave of technological demands and then having the ability to come up with products and solutions that address customer pain points, will do the trick. Involving technology in your home could mean providing consumers with a home assistant or an online handbook for troubleshooting and neighborhood tips. Further to a home assistant, smart homes are the ideal solution to answer these high expectations. We expect to see an increased demand for tailor-made smart homes that may eventually render older, traditionally built structures to be much less desirable.”
Looking to progress through an exciting career in PropTech in the Middle East and beyond? Join us in our Blueground Dubai office!
