Saudi Arabia’s Property Management Software Market Poised for Strong Growth Amid Real Estate Boom

According to the latest market research study published by P&S Intelligence, the property management software market in Saudi Arabia generated USD 46.7 million in 2023, and it is anticipated to grow at a 6.8% CAGR, reaching USD 73.8 million by the decade's end.

Key drivers include the increasing adoption of software solutions that simplify property management and a rising demand for the SaaS model within real estate and construction. This market is positioned for growth, supported by large-scale investments in the construction sector. The surge in projects—particularly in urban development, transportation, and utilities—reflects Saudi Arabia’s "National Transformation Program 2020" and "Saudi Vision 2030," which emphasize smart city initiatives aimed at enhancing urban competitiveness and drawing in investment.

Smart infrastructure concepts, slated for implementation across five cities, include technologies such as smart cameras and automated waste management systems, further driving software adoption. Major projects like AMAALA and NEOM, alongside government-backed companies like B8ak and FalconViz, are expected to boost growth in the property management software market.

Key Insights

• Solutions Market Share: Solutions accounted for over 65% of the Saudi Arabian market in 2023, driven by increased demand for digital property management.
• Virtual Coordination: A growing need for reducing in-person meetings and enhancing virtual collaboration among teams.
• Enhanced Client Management: Solutions improve client interactions, streamline payment processes, and enable digital financing.
• Cloud Deployment: Cloud solutions held the largest share in 2023 and are projected to grow at a 7.0% CAGR. Cloud technology facilitates remote data storage, management, and processing.
• Property Managers as Key Users: Property managers represented more than 75% of the market share in 2023, with a CAGR forecast of 7.2% through 2030. They rely on software to manage properties effectively, improving tenant satisfaction and lease renewals.
• Market Landscape: The market remains fragmented with domestic and international players.

Companies are innovating to gain a competitive advantage. For instance, Focus Softnet Pvt. Ltd. introduced the AI-enabled Compositible ERP, including RPA capabilities and secure banking integrations. RealPage Inc. partnered with Airbnb to introduce the Migo solution, which integrates services to make housing more affordable and enhance the Airbnb experience. Additionally, RealPage’s collaboration with Measurabl Inc. aims to advance ESG solutions for real estate, enhancing reporting, compliance, and decarbonization efforts. Lodgify has also launched the Lite Plan, a vacation rental solution with no recurring monthly fees, helping property owners manage bookings and reservations.