September 20 2024 14:30
The Africa Property Investment (API) Summit which takes place on Thursday and Friday this week at the Westin in Cape Town is once again hosting its top-class Proptech Forum.
Taking place on Friday, the forum is rich with experts in African proptech.
Managing Partner at REdimension Capital, Peter Clark explains that API is a key event for SA’s proptech industry.
“It’s a great conference with good content and well attended by key role players in the real estate technology space. It tends to attract more of the tech crowd than the real estate crowd, but overtime, as landlords become more tech savvy, I expect more of them to come along,” he says.
“The conference plays a few keys roles. It creates the right platform to showcase how various technologies can enable better outcomes for real estate operators, while also providing thought leadership and visions of how the sector may operate in the future. The are some key insights which can be used when thinking about how to look at data, workflows and user experience, and also how to approach product adoption and change management. Technology is already intertwined with real estate, and being used to different extents,” Clark says.
Clark explains that proptech offers opportunities for people who want to work in real estate or start businesses as real estate entrepreneurs.
“Real estate is a complex industry with many layers, ranging from owners, occupiers, service providers and managers, all with different focus points. As such, and given how fragmented it is, it has been slow to innovate and adopt technology compared to other sectors. The conference helps break down the barriers and provides insights on the various solutions available,” he says.
“Not one tech solution can solve all problems, and integrations and awareness of various technologies is helpful to creating broader adoption. The conference is a great platform to meet entrepreneurs and well as potential users,” he says.
Aileen Rodel, CEO of RE-TEC Solutions, has attended API for a number of years and advocates for proptech businesses to embrace it.
“We’ve been attending API events for the past few years, largely due to the valuable discussions at the Prop-Tech forum. As a prop-tech company, it’s been an ideal environment for networking with potential clients and finding synergy with other innovative prop-tech solutions. In fact, API is where we
connected with our investment partner, so it’s become a key event for us to strengthen our industry presence and collaboration,” says Rodel.
RE-TEC Solutions provides technologies aimed at revolutionising the management of retail property assets. It is a platform which empowers real estate property owners through an integrated and connected digital property management platform with automated workflows, data aggregation, analytics and insights and AI aimed at delivering improved property performance.
Rodel explains why she entered the proptech arena.
“We recognised the gap in how property management could be more efficient, cost-effective, and insightful with technology. This realization came from years of witnessing the traditional processes that could benefit from automation, data aggregation, and real-time insights. We decided to enter the prop-tech space when we saw the potential to not only improve operational efficiency but also enhance the overall value of real estate assets,” she says.
“API, along with the African Proptech Forum, dedicates an entire day to prop-tech, creating a rich and dynamic platform for discussions between solution providers, real estate clients using the latest innovations, and industry experts. The content is focused on real-world use cases and technologies that are already transforming property management, making it the most content-rich event on prop-tech in the region,” says Rodel.
She is a panellist at the API Proptech Forum.
“My aim in participating on the panel covering AI in real estate is to share tangible insights on how data-driven property management can revolutionize real estate. We’re currently working on integrating Generative AI into our platform which currently offers a combination of data aggregation and workflow solutions,” says Rodel.
“The AI integration will assist our clients with more advanced data analysis and the generation of actionable insights. In addition, we’re exploring how co-pilot functionality can help streamline operations, allowing clients to improve efficiencies through AI-driven support in decision-making and workflow automation. Attendees can expect a deep dive into these innovations and how they can drastically enhance property management processes,” she says.
REdimension Capital is also supporting the proptech start-up competition, alongside JSE-listed Burstone who have sponsored the prize for the past two years.
“We will assist in the judging of the start-ups, as well as various panel discussions and presentations. We looking forward to engaging with entrepreneurs who are using technology to solve challenges in the property market in South Africa and rest of Africa,” says Clark.
Rodel says she is thrilled that her company is in the running for prizes.
“We’re thrilled to be in the running for the prestigious Prop-Tech Startup of the Year award. As robust as our solution is, and despite the number of successful projects we’ve implemented for some of South Africa’s top landlords, we’re still a new player in the market, having founded the business in 2022. Being nominated as a finalist is a testament to our team’s hard work, continuous innovation, and the real-world impact we’re making in solving the problems of traditional property management,” she says.
alistair@propertyflash.co.za
Paid editorial for the Africa Property Investment (API) Summit.
