Proptech Predicted to Reach $1 Trillion Market Size in 7-8 Years: CBRE South East Asia CEO

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    CBRE South Asia Pvt Ltd recently organized the ‘DISRUPT 2.0 Proptech Challenge’ in collaboration with NASSCOM Startups. The challenge witnessed Strawcture, a Delhi-based Proptech startup, emerge as the victor, with Enlite (Mumbai) and SuperBolter (Bengaluru) securing the first and second runner-up positions.

    Anshuman Magazine, Chairman and CEO of India, South East Asia, Middle East, and Africa at CBRE, while announcing the winners of the second edition of the Proptech challenge, expressed optimism about the significant growth potential of Proptech in the real estate sector. Magazine stated, “Proptech is set to become a one-trillion-dollar market in the next seven to eight years, so there is a tremendous scope for Proptech in the real estate industry.

    The ‘DISRUPT 2.0’ Proptech challenge attracted nearly 400 startups from 45 different cities. Notably, Bangalore, New Delhi, and Mumbai collectively accounted for 53 percent of the total startup entries. These startups represented various domains, including ESG, Fintech, construction technology, and indigenous tech.

    Magazine highlighted the crucial role of Proptech companies in enhancing the efficiency and accessibility of the real estate sector. He emphasized the need for innovations in construction, real estate financing, and property transactions to make the industry more cost-effective, streamlined, and user-friendly. Magazine noted that the Proptech market is still in its nascent stages, having started only five to seven years ago, and has substantial room for growth.

    The winning startup, Strawcture Eco, specializes in research-led biomaterials manufacturing. They focus on creating functional, highly insulated, and 100 percent carbon-negative building materials. Their unique approach involves utilizing waste fibers as the primary source of raw materials for their products.

    CBRE’s dedication to fostering a tech-savvy and forward-looking real estate industry is evident through initiatives like the ‘DISRUPT 2.0’ Proptech challenge. With the continuous evolution of Proptech, it is anticipated that the industry will play a pivotal role in reshaping the real estate landscape and contribute significantly to its growth, with a projected market size of one trillion dollars in the next 7-8 years.

    Also Read: Indian Real Estate Industry Soon To Become a RealTech Industry, Observes Tech Experts at ‘Excelerate 2.0 #TechForReal’ Organised by NAREDCO NextGen

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