PropTech to become $1 trillion industry in 7-8 years : CBRE
PropTech is expected to become $1 trillion industry in 7-8 years, according to Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East, and Africa, CBRE.
Magazine said that the development will move behind 3-4 main cities in coming years.
CBRE has selected three startups as part of PropTech challenge, ‘DISRUPTECH 2.0’, where Delhi-based Strawcture has emerged as the winner, while Enlite (Mumbai) and SuperBolter (Bengaluru).
The three companies will be entitled to rewards and recognition, including access to real estate angel funding, participation in the CBRE Global Startup program, opportunities for proof of concept (POC) collaborations with CBRE clients, access to the nasscom startup ecosystem, mentorship with experienced investors, and valuable marketing support from CBRE Advisory.
The platform primary objective is to identify, mentor, and develop the best technology solutions will enable the Indian real estate industry to take a quantum leap over the coming years.
The challenge witnessed participation from more than 400 startups, from over 45 cities from across the country.
The entries for the challenge were divided into categories focused on ESG, fintech, construction technology, and indigenous tech for the local market. The highest number of nominations were from fintech, followed by ESG.
“Startups in the real estate domain are likely to be the next big thing as they are driving growth of a sustainable ecosystem in India.
