Sustainability and AI highlighted at World Realty Congress Summit

Inayat-ur-Rahman, Business Editor

The World Realty Congress, a new comprehensive summit comprising the reputable International Real Estate Community Management Summit (IRECMS), REM TIMES Realty Confex, and CAM G10 summit, received an overwhelming response from the industry on its grand debut at the Movenpick Grand Al Bustan, Dubai.

Held recently in Dubai and sponsored by the like of LOAMS and Urbanise, the four-day World Realty Congress included a host of deep-dive masterclasses, insightful seminars, and keynotes from leading global real estate professionals on relevant subjects like the adoption of AI in community management, life-cycle sustainability, and compliance with evolving regulations.

IRECMS, back for its fourth edition, conducted masterclasses that pushed the bounds of conventions by touching upon how real estate professionals can prioritize mental health, manage their personal finances, and improve their soft skills. On the industry front, the IRECMS Conference brought insightful and interesting perspectives on sustainability, zero tolerance toward collapses, the management of luxury properties, the role of community management in design, the use of AI in real estate management, and the importance of governance and compliance. Supported by leading professional associations such as CAI, SCA, CAMICB, and MEFMA, the World Realty Congress is in sync with the changing contours of compliance in real estate globally.

“We created the World Realty Congress to unite the entire real estate ecosystem, fostering learning, celebration, and collaboration. It is not just about addressing issues but also embracing the essence of the industry, from celebrating successes to exploring new frontiers. The overwhelming response to our inaugural edition solidifies our ambition to make the World Realty Congress the world’s foremost real estate conference. Together, we will redefine the industry,” noted Jatin Deepchandani, CEO of Plan3Media Event Management LLC, the organizer.

Exhibitors, including innovators at the intersection of real estate and emerging disciplines like climate tech, gathered in good numbers, leveraging the opportunity to engage with professionals from sub-industries such as developers, brokers, facility managers, community managers, and property consultants. Many exhibitors have confirmed their attendance for the next edition in 2024, encouraged by the summit’s unique approach to multi stakeholder participation.

REM TIMES Realty Confex added a nuanced dimension to the summit by delving deeper into sub-markets such as affordable housing and luxury properties in the UAE. It underscored the importance of each such segment for the holistic growth of the real estate industry and the larger economy. The FDI inflow into the branded housing segment was among the key talking points. REM Times Realty Confex recognized and felicitated 12 key players, including Union Properties, DAMAC Properties and Sobha Realty, for their continued valuable contributions to the regional real estate industry.

IRECMS’ reputation for merit-based award culture was on full display at the Gala Night. The glitzy event saw 52 deserving winners across 26 real estate-centric categories walk away with the prestigious IRECMS Dubai Award 2023. The rigorous award-selection process involved 28 global expert jury members who, over the course of a few months, spent over 300 hours assessing 108 presentations on people-centric approaches, value creation, sustainability outcomes, and innovative operations.

Dubai Community Management and Nakheel Community Management were among the big winners, taking the Gold Award for the ‘Best   Community Management Company of the Year’. As part of the summit,   Nakheel Community Management hosted an ‘International Community Tour’ for the global delegation, giving them the rare pleasure of experiencing the behind-the-scenes management of the landmark Palm Jumeirah. The World Realty Congress is set to return in 2024 with a promise of a bigger and better agenda and events.

Plan3Media (P3M) is a unique event management company that conceptualises original event ideas and transforms the ideas into thriving, intellectual event properties through seamless end-to-end execution. Founded in 2015, P3M focuses primarily on international business conferences, seminars, and community events.

Meanwhile, the real estate and properties transactions valued at 16.6 billion in total during the week ending 22 December 2023. The sum of transactions was 3,785.

 216 plots were sold for Dhs 4.91 billion, 2,729 apartments and villas were sold for Dhs 7.49 billion.

 The top three transactions were a land in Al Yelayiss 5 sold for Dhs 2.43 billion, followed by a land that was sold for Dhs 64.09 million in Al Hebiah Fourth, and a land sold for AED 57.67 million in Al Goze Second in third place.

Palm Jabal Ali recorded the most transactions for this week by 35 sales transactions worth Dhs 850.21 million, followed by Madinat Hind 4 with 29 sales transactions worth Dhs 52.87 million, and Al Hebiah Fifth with 18 sales transactions worth Dhs 58.5 million in third place.