Realiste has identified the 4 main reasons behind the rise of sustainable architecture in Dubai. As a leading proptech company specializing in AI solutions for the real estate industry, Realiste is at the forefront of tracking the latest trends and developments in the market. Through its extensive research and analysis, Realiste has identified the following factors contributing to the rise of sustainable architecture in Dubai.
- Government Initiatives: The UAE government has set a target of having 50% of all buildings in Dubai to be sustainable by 2030. To achieve this, the government has launched several initiatives to encourage sustainable building practices. According to a report by Dubai Carbon, Dubai’s green building regulations have resulted in a reduction of 1.4 million tonnes of carbon dioxide emissions and a savings of AED 4.5 billion in energy costs.
- Economic benefits: Sustainable architecture is not only good for the environment, but it also provides economic benefits. By incorporating energy-efficient features and renewable energy systems, buildings can significantly reduce their operating costs. This translates to lower utility bills, increased asset value, and higher rental yields. Additionally, sustainable buildings are becoming increasingly attractive to tenants who prioritize environmental sustainability.
- Innovation in sustainable technologies: Advances in technology have made sustainable architecture more accessible and cost-effective. For instance, solar panels, wind turbines, and geothermal systems are becoming more affordable, making it easier for developers to incorporate renewable energy systems in their buildings. Additionally, new materials and construction methods, such as 3D printing, are being developed to reduce waste and improve energy efficiency.
- Changing Social Attitudes: There has been a growing awareness and concern for environmental issues among consumers, which has resulted in a shift in demand towards more sustainable products and services. This trend is reflected in the real estate market, where tenants and buyers are increasingly seeking out sustainable buildings. In fact, according to a survey by YouGov, 70% of UAE residents are willing to pay more for environmentally friendly products and services.
Realiste is a proptech startup that develops AI-powered products for real estate investing. The company’s goal is to build the first real estate exchange that can help to identify the most profitable options in the market, allow purchase online within seconds directly from developers, and manage all the purchased assets in one place. In 2022, it was recognized as the leading artificial intelligence company in the UAE.
Realiste aims to revolutionize the real estate market in the MENA region by increasing its transparency and accessibility for investors worldwide. The company is confident that its AI-driven products can benefit not only the property investors but all parties involved, including government, property investors, construction companies, and banks, by streamlining and accelerating property deals.
The company’s headquarters are located in Dubai. Overall, Realiste covers over 20 cities, including London, New York, Riyadh, and Bangkok. By the end of 2023, the team aims to expand Realiste to more than 30 cities globally, partnering with local businesses that share the company’s vision and have an in-depth understanding of their markets.
In February 2023, Realiste officially launched a joint venture in Saudi Arabia with local partners, including Ahmed Alenazi, the former CEO of STC Pay, a successful fintech unicorn startup. This joint company was valued at $10M. Realiste plans to collaborate with local developers and banks in Saudi Arabia and digitalize 13 cities by the end of 2023.
The revenue in Dubai’s company stands at $1M, and the team aims to reach $30M by the end of 2023.