Proptech News 12/20/2024
TEKCE redefines real estate with personalised PropTech services - GlobeNewsWire
The global real estate industry is set for a significant technological shift, with PropTech investments expected to reach US$37 billion by the end of this year and approaching US$90 billion by 2032, according to a report by Fortune Business Insights. International real estate group TEKCE has launched MyTEKCE, a digital platform designed to centralize data and streamline the buying and selling process. The platform aims to simplify decision-making for buyers and sellers, enhance transparency, and reduce administrative friction in an industry reliant on traditional methods. For sellers, MyTEKCE provides tools to request free property valuation reports, monitor listings, review visitor statistics, oversee contracts, and complete the entire sales process online. Buyers gain access to tailored search tools, real-time notifications on new listings, direct communication with sales consultants, property viewings, and an integrated CRM system. TEKCE plans further enhancements to MyTEKCE, including a Partner page for industry collaborators to list properties globally or serve their clients, and landlords managing short, medium, and long-term rentals.
EQT completes acquisition of PropertyGuru - TN Global
EQT Private Capital Asia has acquired Singapore-based property technology company PropertyGuru Group for $6.70 per share in cash, valued at approximately $1.1 billion. PropertyGuru is Southeast Asia's leading PropTech platform, connecting over 31 million property seekers with over 50,000 agents across Singapore, Malaysia, Thailand, and Vietnam each month. The company offers a comprehensive suite of offerings, including extensive real estate listings, data-driven insights, mortgage solutions, and enterprise client solutions. EQT's investment aims to support the company's ongoing progress by providing resources and expertise to accelerate technology development, expand market reach, and improve operational efficiency. The company's growth has been enabled by strong partnerships with shareholders, led by TPG and KKR. PropertyGuru has redefined the property technology landscape in Southeast Asia, standing out for its innovation and leadership in delivering solutions that empower millions across the region
Whatās on the horizon for the global proptech industry in 2025? - Khaleej Times
If I were to offer one piece of advice for those entering the real estate sector, itās this: be ready to adapt. The ever-evolving property industry, fueled by advancements like property technology (Proptech), is transforming how we buy, sell, and invest in real estate. Proptech, now valued at over $40 billion and projected to grow to $179 billion by 2034, is democratizing real estate through models like fractional ownership, enabling investments from as little as Dh500 via blockchain-powered platforms. Artificial intelligence (AI) is further revolutionizing the field, enhancing property valuations, market forecasts, and operational efficiency while offering personalized user experiences. The rise of proptech-powered tools also provides consumers with greater choice, from streamlined mortgage approvals to smart home technologies and sustainable systems. As we approach 2025, the sector promises increased accessibility, accuracy, and innovation. Proptechās ability to surprise and drive progress makes the future of real estate brighter than ever
Leading proptech acquires well-known tenant referencing firm - The Negotiator
Openbrix is set to acquire tenant referencing firm FCC Paragon, marking a strategic move that will formalize its relationship with its tenant app, tlyfe. Openbrix CEO Adam Pigott believes the acquisition aligns with shared goals and FCC Paragon's exceptional references and customer service. FCC Paragon MD Bryn Cole echoed this sentiment, stating that the acquisition is a natural progression. Openbrix's vision and significant resources will take FCC Paragon to another level, expanding its comprehensive suite of products and services. The acquisition is both strategic and timely, as tlyfe, the UK's largest single-source tenant platform, continues to grow daily. Openbrix Chairman John Hards emphasized the need for high-quality reference provision and supportive rental warranties due to the Renters Rights Bill's impact in 2025. The timing of the acquisition is deemed ideal, as the demand for high-quality reference provision and rental warranties is expected to rise.