DAMAC leads the transformation of “real estate technology” to expand its digital assets

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As one of the leading real estate developers in the region, Damac Properties has sharpened its efforts in the field of digital innovations and has been able to prove its worth as one of the leading companies in driving innovative technologies in the real estate sector, also known as “real estate technology” .

Jayesh Maganlal, chief information officer at DAMAC Properties, said: “Real estate developers, company founders, investors and professionals in related activities are facing an era of drastic change, and ‘real estate technology’ is seen as one of the main tools, not just to survive on Constant communication with the changes, rather to provide market opportunities to clients, to ensure that they keep pace with the latest developments in the real estate market, at a time when we see the entry of “competitors” seeking the market to enter by presenting business models based on innovation and creativity. ”

Finally, DAMAC was honored in the “Smart Innovation” category at the “Future Workspace Summit and Awards 2022”. The Group continues to focus on key technology pillars covering various aspects of the business, as it leads to the application of technology to its construction, sales and after-sales activities, including customer relationships and support functions.

DAMAC took the lead in digital assets in the region, when it eventually became the first real estate company to enter the world of metaverse. Under its flagship D-Labs project, the company has invested $ 100 million to build digital cities, increase group sales and promote customer engagement. Not only that, but DAMAC has also become a leading developer in facilitating real estate purchase transactions using cryptocurrencies.

Customer sales are one of the main areas in which DAMAC seeks to leverage “real estate technology”. The company has moved from the traditional sales approach to the digital sales approach by expanding and developing its digital channels, and working closely with companies specializing in the field of machine learning.

Customer highest priority

DAMAC takes customer satisfaction and happiness as a primary goal that it constantly strives for. DAMAC Living, the exclusive platform for property owners and tenants, offers an easy, fast and convenient way to manage their properties through a single platform. Finally, DAMAC has thoroughly developed this platform with the addition of enhanced features.

The client can now obtain “No Objection to Transfer Property” certificates directly through the platform, in addition to digital certificates, to help clients get rid of the hassle of moving from one place to another.

In partnership with the Dubai Land Department, DAMAC offers customers the opportunity to obtain details of “Ejari” contracts, and increase transfer requests through the application, to provide tenants with flexible options in the easiest way.

Customers can now also make payments with (ApplePay), in addition to payment by credit or debit cards, and other online banking services.

To meet the expectations of various customer segments, the company has also introduced an Arabic version of the application, with plans to add more languages ​​later. The company is preparing to launch an exclusive application for its London project, “DAMAC Towers Nine Elms”, which it recently launched.

In addition, the company has launched another digital initiative to integrate chatbots into DAMAC’s CRM software, with the aim of facilitating customer interaction with the CRM team and giving them an opportunity to manage their properties themselves.

The chatbot handles an average of 6,300 customer chats per month, covering a range of requests, such as payments, relocation, maintenance, facilities, visitor management and general inquiries.

The department has also introduced a response service system to increase the efficiency and effectiveness of handling customer transactions received from various channels, such as phone calls, emails, chats, the DAMAC Living application and visiting customers.

Maganlal continued, “We are constantly working to develop and improve the customer experience on the application, especially as it is no longer just a tool to manage real estate communities, but we are working to provide a comprehensive solution covering all points of contact with DAMAC, from the moment the client shows interest in our projects and even moving to his property unit. “

Partner Support

The company recently upgraded and renamed its “DAMAC Brokers” application, which is the digital platform for its real estate agents. The application provides comprehensive information about the group and its portfolio. It also includes property specifications, locations, features and facilities, as well as units available in various forms, offers offered by the company, and other useful and important information.

Agents and brokers can now register through the application to join the DAMAC family. They can also browse properties, select units available for online booking, view their full details, take virtual tours, book trips for their clients to visit model units, view upcoming promotions and events, and customize options Do research, do application for and attend broker training programs.

Brokers have the opportunity to participate in the visitation program for potential clients coming from outside the UAE, where they can book airline tickets for them, and join the Unity program, which offers different levels of membership in the club based on the brokers’ contributions. to the company’s sales.

Real Estate Technology Development

A study conducted by Statista Research revealed that in 2021 last year, a $ 24.3 billion investment in companies specializing in real estate technology development worldwide was a 60% increase over the levels of the previous three years.

Maganlal added: “DAMAC Properties sees this trend as an opportunity to diversify and drive innovation in the real estate sector, with the need to adopt a broader corporate responsibility agenda in line with UAE objectives, through the” adopt “right” technology.

The ultimate goal is a serious desire to ensure more value for buyers, and to achieve positive results for the national economy in general. ”

The Chief Information Officer of DAMAC concluded his speech by saying: “DAMAC evaluates this issue from a comprehensive perspective, as it creates an ongoing challenge for itself to improve performance and maintain excellence. Achieving this equation requires achieving an ideal balance between what can be achieved within the company’s departments and outside when needed.

DAMAC is aware of the challenges posed by this situation, and is therefore actively working to change its approach by acknowledging an important fact, namely that success requires a delicate balance between three key elements: core technology, ability to implement and talent acquisition . ”

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