Increased Investment in Technology in the UAE and KSA

Thanks to technology, 90 per cent of construction specialists are confident of their decisions

Approximately 90 per cent of construction decision-makers in both the UAE and KSA are confident of the market conditions and the prospect of their projects increasing in value over the next 12 months, states ZāZEN Properties, a leading sustainable property developer in Dubai. The rapid enhancement of technology and accelerated digitalisation in the region, alongside mainstay factors such as economic strength, convenient geography, and increased implementation of sustainable initiatives are spurring the sector’s confidence and the region’s upward trajectory.

The rise of ChatGPT, which registered one million users in its first five days of launching, has unveiled a new way of living and working across the world. Its impact across all industries is being increasingly realised and this is a driving force behind why construction in the UAE and KSA are poised to undergo a digital renaissance over the coming years, as well as decades. This transformation has already begun with 80 per cent of construction decision-makers in the UAE and KSA saying they have ramped up investment in future technologies over the past three to six months.

The growing use of technology is expected to save developers costs, especially in the realm of off-plan projects. Sustainable integration in real estate projects is seeing an uptick for this same reason, specifically in Dubai. With global data showing that $5.2 trillion is needed through 2032 to decarbonize the built environment and green real estate, the UAE has displayed its global excellence by mandating several sustainable initiatives including the Dubai 2040 Urban Masterplan and UAE Net Zero 2050. These objectives are not only nurturing the sustainable agenda of the country but also the world.

Madhav Dhar, the co-founder and COO of ZāZEN Properties, stated, “Sustainability is the future and as it pertains to real estate, the benefits of sustainable integration are apparent. From reduced building operational costs for developers and maintenance teams to a lower carbon footprint and healthier communities for its residents and the city, the positive impact of sustainability-centric projects is evident. Global data even shows that buildings which meet current sustainability performance standards and include up-to-date infrastructure and equipment, gain higher resale value, while homes with energy efficiency ratings sell for 2.7 per cent more than unrated homes. With COP 28 fast approaching, construction decision-makers, real estate developers, and the entire property sector must unite to quite literally build a greener future for all.”