DAMAC Properties has stepped up its digital innovations, positioning itself as a pioneer in proptech.
“Real estate developers, founders, investors and related industry specialists are facing an era of disruption and proptech is seen as an important way of not only staying relevant but more importantly making the market accessible to customers who otherwise will not be able to climb the property ladder and ‘challengers’ looking to break into the market with creative business models,” said Jayesh Maganlal, Chief Information Officer of DAMAC Properties.
The Group continues focused on core tech pillars that cover all areas of the company, driving the use of tech across construction, sales and post-sales (customer relations), and support services.
DAMAC led the region’s digital asset market by entering the metaverse. Under D-Labs, the firm has committed $100 million to construct digital cities, boost sales possibilities, and improve consumer engagement.
DAMAC is also a pioneer in property purchases utilizing cryptocurrencies.
DAMAC uses proptech for customer sales. The corporation has increased and strengthened its digital channels by working with machine learning startups.
DAMAC prioritizes customer satisfaction. DAMAC Living is an exclusive platform for property owners and renters to manage their property. The app includes new features. Customers may now request property transfer NoCs using the app and secure digital certificates, avoiding walk-ins. DAMAC provides consumers the ability to retrieve Ejari elements of their lease contract and issue move-in requests using the app, ensuring a smooth transition for new renters. In addition to credit/debit cards and internet banking, customers may now use ApplePay.
The startup created an Arabic version of the app and hopes to add other languages. DAMAC Towers Nine Elms, a luxury building in London, just began handover.
The incorporation of chatbots into DAMAC’s Customer Relations Management software makes it easier for customers to connect with the CRM team and manage their properties on the go.
The chatbot manages 6,300 client contacts every month, including payments, moving in, maintenance, reserving facilities, guest management, and general enquiries.
The department also implemented a ticketing system to better handle consumer calls, emails, chats, the DAMAC Living App, and walk-ins.
“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 customer shows interest in our properties to when they start residing in our communities,” Maganlal explains.
The firm recently revamped and redesigned its DAMAC Agents app. The app covers property details, location, USPs, value add features/amenities, available unit inventory in several forms, offers, etc.
Through the application, agencies and agents can join DAMAC. They can see properties and book online, examine complete details, take virtual tours, arrange a ride for their customers to the show unit, view upcoming roadshows and events, and apply for and attend agent training programs. Agents may also join up for the Fly-in Programme, which allows them to schedule flights for consumers to see overseas listings, and the Unity Programme, which unlocks club membership based on sales contribution.
In 2021, USD 24.3 billion was invested in Proptech businesses globally, rising 60% from the previous three years.
DAMAC Properties sees this as a chance to diversify and foster daring innovation while incorporating a broader corporate responsibility agenda in line with UAE aspirations. Maganlal wants to transfer this into value for the end customer and favorable economic effects.
“DAMAC is considering this from both a ‘inside-out’ and ‘outside-in’ perspective and is constantly challenging the internal status quo to drive performance and excellence. This requires a balance between what can be achieved internally and, when necessary, externally. Cognizant of the challenges this poses, DAMAC Properties has been actively transforming its approach in the realisation that success requires a delicate balance between core tech, ability to execute and attracting the right talent.”