In 2021, the U.A.E. property management software market was worth $53.9 million, which is projected to grow at a sufficient CAGR in the coming years, according to the report published by P&S Intelligence.
Due to the rise in the investment in the construction industry, the market is touching new peaks. For example, the U.A.E. government has authorized a $15.5-billion budget to promote health, social, infrastructure, and cultural initiatives, as well as educational development in the country. Moreover, in 2020, for adding 8 million square meters of parks and green spaces to commercial and residential areas, funding of $544.5 million was approved in Dubai for 29 projects.
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Whereas, in 2021, the Saudi Arabia property management software market size stood at $37.0 million. There are several factors for the market growth, including the advancing construction activities, need for property management to be handled remotely, and rising demand for the SaaS model of property management. Above all, the Ministry of Municipal and Rural Affairs of Saudi Arabia has started smart city initiatives under the Saudi Vision 2030 and the National Transformation Program 2020.
In the U.A.E. and Saudi Arabia property management software market, the solutions category was predicted to have a revenue share of more than 70% in 2021. This was mostly due to the increasing demand for digital property management operations, the desire to limit the number of meetings as much as feasible, and the need to improve virtual colleague and manager cooperation. Furthermore, solutions assist businesses in methodically managing their clientele and providing simple payment and digital financing.
One of the main innovations in the software business is the cloud technology, which has drastically changed the way software programs are distributed to clients. As a result of this shift, software engineers may now concentrate on the technological aspects of their work, while outsourcing the administration to cloud service providers. There are many advantages of the SaaS model that will advance the U.A.E. and Saudi Arabia property management software market growth in the future, such as reduced infra expenses and remote access.
REACH by RentCafe, a comprehensive digital marketing company for multifamily property management, was established by Yardi in August 2021. REACH provides website creation services for businesses and properties, as well as bespoke design materials, such as logos and email templates. Via search marketing, creative, and strategy analysis, it also assists clients in reaching more tenants, improving marketing success, and reducing unnecessary expenditure.
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Similarly, RealPage Inc. introduced On-Call Live Tours in March 2021 as part of its new peak performance (P2) virtual leasing package. Users may take a personalized online tour and interact with high-quality three-dimensional (3D) floor plans, drone footage, site maps, and images.
Key players in the U.A.E. and Saudi Arabia property management software market include Rent Manager, Buildium LLC, Lodgify, RMS Cloud, Peniel Technology LLC, Guesty Inc., Streamline Vacation Rental Software, ResMan LLC, Virtual Dusk Media Solutions LLC, Entrata Inc., RealPage Inc., Yardi Systems Inc., and AppFolio Inc.
Segmentation Analysis
U.A.E. Market Segmentation by Component
- Solutions
- Lease accounting and real estate management
- Asset maintenance management
- Workspace and relocation management
- Reservation management
- Services
- Deployment and integration
- Consulting
- Support and maintenance
- Service level agreement management
U.A.E. Market Segmentation by Deployment
- Cloud
- On-Premises
U.A.E. Market Segmentation by End User
- Property Managers
- Housing Associations
U.A.E. Market Segmentation by Application
- Residential
- Commercial
- Construction and real estate
- Government
- Retail
- Hospitality
Saudi Arabia Market Segmentation by Component
- Solutions
- Lease accounting and real estate management
- Asset maintenance management
- Workspace and relocation management
- Reservation management
- Services
- Deployment and integration
- Consulting
- Support and maintenance
- Service level agreement management
Saudi Arabia Market Segmentation by Deployment
- Cloud
- On-Premises
Saudi Arabia Market Segmentation by End User
- Property Managers
- Housing Associations
Saudi Arabia Market Segmentation by Application
- Residential
- Commercial
- Construction and real estate
- Government
- Retail
- Hospitality
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