PropTech Conference: Impacts and Challenges in Monaco and Worldwide

In the context of the Extended Monaco program, the Prince’s Government and the Monaco Economic Board organized the 3rd edition of a conference dedicated to PropTech on Tuesday, at the Yacht Club de Monaco. Supported by professional organizations in the sector – the Real Estate Chamber, the Employers’ Chamber of Construction, the Promoters’ Union, and the Architects’ Order – the conference brought together numerous local and international PropTech experts, a movement at the intersection of real estate and digital technology that seeks to rethink the entire real estate value chain. While real estate has always been considered a crucial pillar of the Monegasque economy, representing nearly 20% of GDP and employing over 15% of the workforce, the sector has also undergone significant changes in recent years due to the transformative power of digital technologies.

“Real estate is a crucial axis of our economy. The sector is undergoing a true strategic transformation with the advent of digital and more recently artificial intelligence. To accompany this major change, the Government, in collaboration with the Monaco Economic Board, the various chambers, and ESCP, our academic partner, aims to make Monaco a European center for technology applied to real estate, PropTech,” recalled Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition, in his opening remarks.

During the discussions, several local and international PropTech actors, including some of international renown, were able to share their vision and present their solutions. Among them: – The architecture firm Foster & Partners, founded by Sir Norman Foster, responsible for projects such as the Yacht Club de Monaco, the Millau Viaduct, or the Great Court of the British Museum, reported on their work shaping the future of architecture through innovative design and advanced technological integration in their projects; – The startups Oghji, YouStock, and Net0, all three incubated at Monaco Tech, outlined their strategy to reduce carbon footprint and optimize energy efficiency in buildings. – The investment fund A/O Proptech, specialized in identifying and exploiting opportunities offered by technological innovations in real estate; – The company Club Funding, a next-generation investment platform, expert in participatory real estate financing for individuals.

“This conference reminds us of the importance of the real estate sector here and elsewhere and has highlighted the promising prospects that PropTech can offer. By embracing innovation and harnessing the potential of new technologies, we can shape a real estate future that is more efficient, economically viable, and above all, more sustainable,” emphasized Guillaume Rose, Director of the Monaco Economic Board.

Finally, it was an opportunity for the Prince’s Government, in partnership with ESCP Business School, to present the 4th edition of its barometer dedicated to the global PropTech market (accessible on the Extended Monaco for Business website: eme.gouv.mc).