Eltizam Asset Management Group has announced that it is investing $5m in next-generation property technologies over the next three years, a move that is seen to further solidify its market edge and accelerate its business transformation programme called ‘Vision 21.’
The latest development is expected to sustain the momentum following the company’s adoption of a five-year ‘technology roadmap’ as well as recruitment of a dedicated technology team in 2018.
The roadmap has outlined the areas of innovation that are going to lead to major improvements for both Eltizam’s core businesses and its customers.
Chris Roberts, chief executive officer, Eltizam Asset Management Group said: “Eltizam believes that sustainable business growth can only be achieved by focusing on the development of its people and processes, ensuring customer happiness, and enhancing operational efficiency.”
Roberts also added that initiatives such as these will bolster Eltizam’s market perception and position in the real estate and facilities management sector.
As part of the strategy the company has recently deployed its mobility maintenance solution which has taken sevral operational processes paperless.
Eltizam is also said to be closely working with a proptech startup to pilot customer apps for community management, which will provide residents a single hub for all community needs – from communication with service teams, service charge payments, to booking community facilities and concierge services.
Eltizam is also exploring how the Internet of Things (IoT), artificial intelligence (AI), and blockchain technologies can help the business over the next 36 months.
The company has already deployed a pilot project of IoT temperature and water sensors in one of its flagship projects in Abu Dhabi to aid its FM operations.
Roberts added: “We are on the cusp of a paradigm shift in how technology is used to manage the built environment and make our cities smarter.”
JLL has predicted that proptech is set to be a key proponent shaping the UAE real estate sector in 2019.
The firm said in its report: “Proptech will continue to have a profound impact across a number of areas including predictive technologies for analysing real estate, transactions across the market and providing smarter means of managing real estate.”