At the Proptech & Smartech Convention ’23, Mr. Arshad Awan, CEO of Homy Properties, offered insightful perspectives on the burgeoning field of Proptech in Pakistan. With over 20 years of real estate experience, including significant time in Saudi Arabia, Mr. Awan’s discussion highlighted the potential and necessity for technological advancement in Pakistan’s real estate sector.
Mr. Arshad Awan began by comparing the Proptech developments in Pakistan with those in the Middle East, Saudi Arabia, and India, noting Pakistan’s relatively slow adoption. He emphasized Pakistan’s position as the fifth most populous country globally and pointed out the mismatch between this demographic potential and the current state of Proptech in the country.
Mr. Awan then shifted focus to Pakistan’s youth, emphasizing their crucial role in the real estate sector’s future. With a high global ranking in freelancing, he suggested that this demographic could significantly contribute to the real estate market, especially in Proptech. He stressed that technology-based real estate projects are more likely to gain investor trust compared to traditional models.
In his concluding remarks, Mr. Awan underlined the importance of adopting Proptech in Pakistan’s real estate market. He identified four key players in this transition: genuine buyers/users, realtors, developers, and the government. He argued that embracing PropTech is essential for building investor trust and ensuring the sector’s growth.
In conclusion, Mr. Arshad Awan’s presentation at the Proptech & Smartech Convention ’23 serves as a vital call to action for Pakistan’s real estate sector. His insights highlight the urgent need for PropTech adoption to leverage the country’s youth potential and meet the demands of a burgeoning population. Emphasizing the shift towards technology-based real estate solutions, Mr. Awan’s vision sets the course for a more innovative, trustworthy, and dynamic real estate market in Pakistan.
For a comprehensive understanding of Mr. Arshad Awan’s insights into the Proptech Revolution, watch his full speech here.