The API Summit Virtual is set to host a Pan-African Virtual Proptech event tomorrow. The free to attend virtual forum will connect Africa’s most impactful real estate investor community with its emerging technology and innovation sectors.
The Africa Proptech Forum Virtual is a one-day event made of live presentations and panel discussions; networking and engagement, for the continent’s growing Proptech community on the 29th of September 2020.
The free to attend virtual forum will connect Africa’s most impactful real estate investor community with its emerging technology and innovation sectors.
This year’s Proptech Forum will provide a platform for investors, startups and practitioners to meet, present and share insights on how Proptech applications are accelerating across the real estate sector.
According to the forum’s host Kfir Rusin, Property Technology (Proptech) is one of the sectors predicted to emerge stronger post Covid-19.
“This period of enforced digital uptake and dependency, as well as remote working, will accelerate adoption and innovation in the Proptech space both globally and in Africa. Already gaining momentum over the past couple of years, property technology will take center stage both in the immediate interventions needed as a result of Covid-19 as well as the mid-to-long term plans for all property-related stakeholders and businesses,” he said.
According to Genevie Naidoo of Nedbank CIB, the event’s sponsor, while Proptech is a niche and growing sub-sector within the African Real Estate Sector.
She said the world we live in now is significantly different to the world we existed in just a few months ago citing the opportunity and benefit that Proptech can provide in the real estate value chain.
“We see tech as really being the spine of our business and tech drives a client experience. The crisis has catapulted the tech journey. We believe that adopting the right technologies and with our great people really provides a winning formula,” said Naidoo.
According to a recent report (The Impact of Covid-10 on African Real Estate) published by API Events, one of the key outcomes arising from Covid-19 from a property technology (Proptech) perspective is that we will see an acceleration in the adoption and uptake of Proptech across the continent.
The Covid-19 pandemic has definitely catapulted the industry into a unknown, unfamiliar territory with so many uncertainties in the market and consumer behaviours are vastly different and not as predictable as in the past.
It is the battle of the traditionalist versus the modernists, the business-as-usual past vs reimagining the future, but more importantly, a new and exciting way to watch property evolve.
“Without a doubt, its uncomfortable for all of us, the property market has never been at the forefront of ground-breaking tech. We have the opportunity to reinvent ourselves, and reimagine a new world and shift focus,” added Naidoo.
Many proponents of Proptech predict that tech will result in vast changes in the way that the built environment operates in regards to construction, building maintenance and the digitalization of data.
“We have seen how Africa has adopted technology to leapfrog over its historical challenges, and we believe the use of proptech is only going to accelerate post Covid-19,” said Kfir Rusin.