TRANSFORMING PROPTECH

DAMAC remains at the forefront of a proptech revolution in real estate as the group seeks to expand its offering to digital assets and enhance the customer journey by adopting the latest industry trends

“Technology in the real estate industry has been late in the game,” said Ali Sajwani, Managing Director at DAMAC Properties. He believes that the property development industry has remained quite traditional in terms of technology adoption… until recently! “The technology boom is finally hitting the real estate sector, and DAMAC is at the forefront of this revolution.”

With vast global wealth stored in real estate, it is only natural that the industry is adopting property technology – aptly known as proptech – to better serve both the residential and commercial markets.

“Real estate developers, founders, investors and industry specialists are facing an era of disruption and proptech is seen as an important way of not only keeping oneself relevant but, more importantly, making the market accessible to customers who otherwise would not be able to enter the property ladder and challengers looking to break into the market with creative business models,” he said.

According to Statista Research, in 2021, a total of US$ 24.3 billion was invested into proptech companies globally, which was up by 60 per cent over the preceding three years. As the largest private property developer in the region, DAMAC considers this the ideal opportunity to diversify and drive bold innovation. The team has, therefore, been stepping up its efforts in digital innovation to secure itself as one of the pioneering companies in driving disruptive tech in the property market. The group remains focused on key tech pillars that span all facets of the business, driving the use of technology across construction, sales and post-sales customer relations as well as support functions.

CUSTOMER SATISFACTION IS KEY

For DAMAC Properties, customer happiness remains a core goal. Offering homeowners and tenants a quick and convenient way to manage their properties through a single platform, the DAMAC Living app was a game changer for the company. “In the last year alone, we’ve incorporated a number of updates and enhanced features in the app,” explained Sajwani.

“Customers can now request property transfer NoCs directly through the app and secure these digital certificates, helping them avoid the hassle of walk-ins. Additionally, in cooperation with the Dubai Land Department (DLD), DAMAC offers customers the chance to fetch ejari details of their tenancy contract and raise move-in requests, providing a seamless journey for new tenants.”

Another digital initiative has been the integration of chatbots within the DAMAC Customer Relations Management software to make it easier for customers to engage and interact with the CRM team. The chatbot handles an average of 6,300 chat interactions with clients on a monthly basis, covering a range of requests, such as making payments, moving in, maintenance, booking amenities, visitor management and general inquiries.

The department also initiated a ticketing service system to increase the efficiency and effectiveness of handling customer transactions received from different channels, such as calls, emails, chats, the DAMAC Living App and walk-ins.

In order to cater to the range of customer demographics, DAMAC also launched an Arabic version of the app, with plans to add more languages subsequently. In addition, the company is gearing up to launch a dedicated living app for its exclusive property in London, DAMAC Tower Nine Elms.

“We are constantly evolving and enhancing customer experience on the app. And, it is not just a community management app anymore. We are working towards a one mobile app solution for all touchpoints with DAMAC, right from the point a customer shows interest in our properties to when they start residing in our communities,” he said.

PAYMENTS MADE EASY

While the DAMAC Living app has made online payments easier with the integration of ApplePay in addition to credit/debit card payment and internet banking facilities, it’s the company’s foray into cryptocurrency that is keeping them ahead of the curve.

“Cryptocurrency is becoming mainstream and Dubai is blessed because it’s open to such forms of payment. We wanted to be an early adopter and so we started facilitating payments through Bitcoin or Ethereum and we have seen a good uptake since we launched. Soon we will also be able to accept service charges through cryptocurrency.”

AGENT SUPPORT

The DAMAC Agents app is a digital platform for real estate brokers providing comprehensive information about the group, its portfolio, property specifications and features as well as unit inventory. The app was recently revamped to offer a whole new experience with a host of added features for property agents.

“Agencies and agents can now register through the application to be part of the DAMAC family. They can view properties and select the inventory to book online, view full details of the property, take virtual tours, book a ride for their customers to visit the show unit, view upcoming roadshows and events, customise their search as well as apply for and attend agent training programmes. Furthermore, agents can sign up for the Fly-in Programme, where they can book flights for customers to view international listings, and the Unity Programme, which unlocks different levels of club membership based on sales contribution.”

AN AWARD-WINNING EXPERIENCE

Thanks to the ongoing efforts in the digital enhancements space, DAMAC Properties was recently honoured for its ‘Smart Innovation’ at the Future Workspace Summit and Awards 2022. Yet, the team is not keen to rest on its laurels.

“We are always looking for new ways in which to enhance the customer journey. This includes reanalysing our business operations to determine how we can automate, digitise and re-engineer these processes. At the same time, we are also focusing on enabling more functions and experiences for our customers through our CRM department, which will simplify a lot of these journeys. We are also looking at the backend to ensure that we optimise our processes so that we can move much faster and quicker.”