Mubasher: Bahrain has witnessed the launch of ‘Estater’, the first property technology (proptech) company in the Middle East and North Africa (MENA) region and the Gulf area.
The kingdom is fast-becoming one of the most attractive technology hubs across the Middle East, backed by the entry of the new milestone Estater which joins a thriving cadre of businesses benefiting from the advanced ICT infrastructure in Bahrain, according to a press release on Monday.
Managing director of Estater Sanjay Goyal commented: “Estater is delighted to select Bahrain as a hub for its regional operations. A favourable business environment for international investors coupled with good regional connectivity 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 agents.”
The Estater app, considered as a revolutionary real estate technology concept, offers an intuitive platform for listing, sharing, finding, or managing a property.
“The app operates as an extension to Estater’s real estate advisory offering, utilising sophisticated GIS mapping to provide market intelligence for developers, investors and financiers. Owing to its extensive regional database, the company boasts a 20% market share in Kuwait and Bahrain, in addition to its flagship operations in India,” according to the press release.
Across the Middle East, Bahrain offers the lowest operating costs, at up to 30% less than other GCC markets, while also guaranteeing 100% ownership in real estate for GCC nationals and a large number of mixed-use free-hold developments offering opportunities to foreign investors.
“On the technology front, companies such as Estater benefit from Bahrain’s vibrant startup ecosystem of over 90 companies, supported by a network of government agencies dedicated to helping businesses succeed, including the Bahrain Economic Development Board (EDB), StartUp Bahrain, Tamkeen, and others,” the press release added.