RIYADH: The winning projects in a “Digitizing the Customer Experience in the Real Estate Sector” challenge set by Saudi Arabia’s General Authority for Small and Medium Enterprises Authority, also known as Monsha’at, have been chosen.
The aim of the challenge, organized in cooperation with the Real Estate General Authority, was to encourage the development of innovative technical products and services that can help solve some of the challenges faced by property buyers and tenants in the Kingdom, including those encountered during the search for a house. It was one of a series of challenges designed to encourage innovative solutions in the real estate sector.
The entrants were invited to develop projects designed to assist in one of three specific aspects of the real estate sector: The search for a property; the evaluation and inspection of properties; and support services related to housing, such as design, maintenance and furnishing, for buyers or renters.
After a series of qualifying rounds and an intensive training camp, the judging panel whittled down 165 projects to the final 27, from which three winners were chosen.
The top prize of SR50,000 ($13,313) went to a project called “Ejari,” or “Tenant.” “A’aked Ejar,” or “Rent Contract,” won the SR30,000 second prize, and “Iqar Bot,” or “Real Estate Bot” was awarded third place and a prize of SR20,000.
The teams behind the successful projects will now work with mentors and trainers from the real estate sector to develop their projects and present them to investors.
