Tech Desk 
Dec 26, 2024
Real estate magnates, construction industry tycoons, and artificial intelligence (AI) experts have declared that AI is a game changer for the real estate sector during the PropTech Convention 2024 at the 18th Build Asia International Conference and Exhibition in Karachi on December 26, 2024.
They emphasised the need for sustainable policies and regulations to address poor governance in financial institutions.
Olympic Group Chief Operating Officer (COO) Abdul Kareem Adhia highlighted the risks of scams in Pakistan’s real estate sector, noting that scammers make up only 15-10%.
He stressed the importance of government departments like the Sindh Building Control Authority (SBCA), Karachi Development Authority (KDA), and Karachi Metropolitan Corporation (KMC) enforcing rules and regulations. Honest builders are hurt by corruption, and public institutions risk losing credibility if they fail to act.
AI impact on Pakistan’s real estate
Dr Abbas also discussed AI tools like Allytics, which uses CCTV and video footage to analyse site conditions and monitor safety, and Everguard.ai, which enhances worker safety through real-time data analytics.
Landtrack.pk founder Atif Arafin mentioned that the PropTech convention aimed to bring all real estate stakeholders together to discuss innovative technologies and sustainable construction materials.
