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Experts in the real estate sector will meet at the West Africa Property Investment (WAPI) summit this week to discuss the increasing role and use of proptech in the regional real estate sector. According to a statement released on Monday by WAPI, the summit will hold on November 15-16 in Lagos.

Proptech (also referred to as property technology or real estate technology) is set to disrupt the real estate industry. Proptech startups are using technology to transform the way people research, rent, buy, and manage property. WAPI said the deployment of technology will make Nigeria’s real estate sector more investable, increase liquidity and drive greater home ownership.

“Proptech is slowly gaining momentum in developed markets, and we feel a developing market like Nigeria can learn and re-calibrate itself for seasoned investors,” said Abdulhakeem Sadiq, chief executive officer of ZAMA, who also added that the adoption of proptech is increasing becoming a boon for the real estate sector in Nigeria.  

The CEO of Zama, a real estate company driven by technology, said the company was inspired by billion-dollar-valuated international proptech firms like Zillow, Zoopla and Rightmove. It was designed as a one-stop platform to bring cohesion to the market. The platform is currently focused on Lagos with the goal to launch in other local markets in Nigeria and the rest of West Africa.

“Our market has its peculiar problems and introducing a process-driven technology would greatly enhance the validity of property valuation for instance, or even in the process finding a reputable agent to work with to help sell and buy properties,” Sadiq said.

The ZAMA platform will be launched at the WAPI conference this week.  

“We’re honoured that Zama’s big coming out party is at WAPI,” said Kfir Rusin, WAPI’s host, who is reportedly confident that ZAMA will be a force in the Nigerian market. “Abdulhakeem and his team have done significant work, and I know long-term that ZAMA will drive the real estate sector by providing more data, transparency and a powerful platform for industry players to come together.”

Sadiq further stated that tech and data are fundamental to growing the real estate sector and driving more investment and liquidity.

“The local and international market is hungry for data! With our platform, we will provide relevant data to aid decision-making and guide users with relevant insights to make informed decisions on property while also connecting them to professionals who can help,” he concluded.