CORPORATE FINANCE
74 aid in client and property management during the pandemic . For instance , in the context of agency , technology adoption has evolved from online listings to virtual reality . As a result of movement restrictions imposed during lockdown , virtual viewings in the majority of markets have surged . Knight Frank Kenya ’ s website , for example , registered a 47 % increase in users over the months of May and June compared to the previous year . Virtual tours have effectively allowed potential tenants and buyers to have realistic ‘ walkthrough ’ tours of the properties .
We have also witnessed an increased focus on data and analytics in the corporate real estate sector , effectively aiding decision makers to predict market performance and plan accordingly .
While the transformation of real estate technology was already taking place pre-COVID , the pandemic has certainly accelerated this trend , underpinning its importance , and we only expect these trends to continue .
AG : Changes in the way that companies carry out day-to-day operations have been underway for years with disruptive technologies such as virtual
viewing and conferencing . However , COVID-19 has fast-tracked the adoption of these technologies as social distancing and remote working have become more prevalent . To facilitate transparent communication amid restrictions and social distancing , various property listing platforms have launched interactive virtual tours of properties without the need to physically visit them .
In terms of new approaches , the Dubai government has introduced a virtual working programme that allows professionals to work overseas while residing in Dubai . On an annual basis , the programme costs AED1,054 plus medical insurance with valid UAE
FEBRUARY 2021