Bahrain to become a major technology hub has marked a new milestone in its bid with the entry of its first property technology (proptech) company, Estater.
The Estater app offers a platform for listing, spliting, finding or managing a property and operates as an addition to Estater’s real estate advisory offering, using GIS mapping to provide market brainpower for developers, financiers and investors.
The company said in addition to its flagship operations in India, it boasts a 20% market share in Kuwait and Bahrain, .
In a statement it is said Estater’s launch in Bahrain demonstrates the growing opportunity for real estate investment in the country.
The Gulf kingdom offers 100% holding in real estate for GCC nationals and to foreign investors a large number of mixed-use free-hold developments offering opportunities.
The launch of Bahrain’s Real Estate Regulatory Authority (RERA) in 2018 has also brought biggest clarity and stability to the sector, Estater added.
Sanjay Goyal, managing director of Estater, said: “Estater is delighted for its regional operations to select Bahrain as a hub . A approving business environment for international investors coupled with good regional relatedness makes Bahrain an ideal choice for us. Real estate value chain in the region is up for several exciting changes and we promise Estater will be one of the change agent.”
The launch comes as the global prop-tech industry is observing rapid enlargement. from 2012 to 2017, according to Venture Scanner Funding into the sector grew by an annual rate of 63 percent .
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