As part of the Extended Monaco programme, the Prince’s Government and Monaco Economic Board held the third edition of a conference dedicated to PropTech on Tuesday, March 12, at the Yacht Club de Monaco.

Supported by professional organisations in the sector the conference brought together many local and international experts in PropTech, a movement at the crossroads of real estate and digital that aims to rethink the entire value chain of real estate.

If real estate has always been considered a crucial pillar of the Monegasque economy, representing nearly 20 percent of GDP and employing more than 15 percent of the workforce, the sector has also experienced significant changes in recent years due to the transformative power of digital technologies.

“Real estate is an essential axis of our economy. The sector is experiencing a real strategic transformation with the emergence of digital technology and more recently artificial intelligence. To support this major change, the Government, in collaboration with Monaco Economic Board, the different chambers and ESCP, our academic partner, wants to make Monaco a European centre for technology as applied to real estate – PropTech.” Said Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition.

During the discussions, several local and international PropTech players, including some from internationally-renowned players, shared their vision and presented their solutions. Among them: – The architectural firm Foster & Partners, founded by Sir Norman Foster, the architect of the Monaco Yacht Club, the Millau Viaduct and the Great Court of the British Museum, reported on their work that shapes the future of architecture through innovative design and cutting-edge technological integration in their projects.

Also presenting were the start-ups Oghji, YouStock and Net0, all three incubated at Monaco Tech, who exhibited their strategies to reduce carbon footprints and optimise the energy efficiency of buildings; the A/O Proptech investment fund, specialised in the identification and exploitation of opportunities offered by technological innovations in real estate; and the Club Funding company, a new generation, expert investment platform in participatory real estate financing for individuals.

“This conference reminds us of the importance of the real estate sector here and elsewhere and has made it possible to highlight the promising prospects that PropTech can offer. By embracing innovation and by harnessing the potential of new technologies, we can shape an efficient future, economically more viable and above all more sustainable real estate,” said Guillaume Rose, Director of the Monaco Economic Board.

ORIGINAL SOURCE & PHOTO: Monaco Government Press Service