As the housing sector expands, the value of keeping up with proptech in Saudi Arabia, including advancements in property management, has become more and more recognized.
With the Kingdom in the midst of a real estate boom, it makes sense that it is becoming a preferred destination for many developers and industry operators. All of whom are in constant need of tech tools for managing and maintaining their property portfolios.
Tech providers such as RAY have stepped up to the plate to lead the digital revolution of property management, with a focus on gated communities and smart cities.
With a renewed emphasis on consolidating its footprint in the Kingdom, RAY has recently launched a dedicated hub in Riyadh. This strategic move showcases the company’s commitment to broadening its reach in one of the most dynamic property markets worldwide
A Proven Track Record in Proptech in Saudi Arabia Fuels RAY’s Expansion
Over the years, RAY has been a well-known leader in proptech in Saudi Arabia, having successfully been able to get on the ground floor of disruptive property management innovation, thus gaining an early-mover advantage.
The trust it has been able to cultivate with its long-time partners provides a solid foundation upon which it continues to boost its market presence. This is all while creating opportunities to enhance relationships with existing customers and build new partnerships with real estate incumbents.
“Our early deployments in the Kingdom gave us validation of the market fit. Moreover, the early adopters of our platform validated the value of our solutions,” said Ayman Kichly, founder and managing partner of RAY.
“This has positioned us as a trusted brand among developers and gated community operators. In addition, our early successes, combined with the market’s rapid digitalization, made it a logical next step to formalize our presence and scale and expand operations in the Kingdom,” he shared.
RAY’s recent footprint expansion was largely supported by the AstroLabs’ on-the-ground team. Highlighting AstroLabs’ role in supporting RAY’s accelerated foray into Saudi, Kichly added, “RAY’s journey in Saudi would not have been the same without the AstroLabs team’s exceptional support, strategic guidance, and unwavering commitment.”
“From the very beginning, AstroLabs played a key role in helping us establish, expand, and navigate the market. Their support has made what could have been a complex process feel seamless and well-structured,” he continued.
With the shifting needs of residential tenants and industry operators, the demand for RAY’s customizable solutions only intensifies, providing solid grounds for the company’s expansion and growing client base.
Ongoing Urban Transformation Drives Spread of and Demand for Smart Property Management
For RAY, Saudi boasts necessary market fundamentals that make it a target location and a conducive testbed for companies to scale solutions. Such factors include a thriving proptech sector, an increasing uptake of smart building technologies, and strong government support and favorable regulations.
Moreover, rapid urbanization, matched with continued population growth, has influenced the need for housing and mixed-use real estate. Giga projects, such as ROSHN, Qiddiya, and Amaala, are leading the recent surge in mixed-use developments across the industry.
Giga projects and smart cities are key pillars of Vision 2030 and Saudi’s sustainable development blueprint. The nature of these cities primarily relies on the collection and analysis of a vast amount of data to leverage the full benefits of an urban interconnected ecosystem.
By making the most of data analytics and advanced technologies such as automation, RAY enables developers and operators to centralize operations, tenant interactions, and decision-making. This way, it empowers them to reduce the risk of oversights, improve tenant satisfaction and boost ROI.
RAY’s long list of partners includes award-winning industry pioneers such as Rafal Communities and Vives Compound.
By embracing tech changes, industry operators can effectively future-proof their businesses and stay competitive in an industry that’s growing fast. RAY, with its cutting-edge platform, is evolving to cope with these trends, promising a brighter future for a more efficient, more inclusive property sector.
“Our strong footprint and proven solutions position us to influence industry standards. Our continued expansion into Saudi Arabia is a natural progression. This bold step shapes the future of real estate technology in the Kingdom and the wider region,” Kichly concluded.