“Making Monaco a European Centre for PropTech”

While real estate has always been considered a crucial pillar of the Monegasque economy, accounting for almost 20% of GDP and employing more than 15% of the workforce, the sector is “undergoing real strategic change with the advent of digital technology and, more recently, artificial intelligence”. To support this major change, the Government, in collaboration with the Monaco Economic Board, the various chambers of commerce and the ESCP, our academic partner, wants to make Monaco a European centre for technology applied to real estate, PropTech”, declared Frédéric Genta, Interministerial Delegate for Attractiveness and Digital Transition, at the 3rd edition of a conference dedicated to PropTech.

Supported by the sector's professional organisations - the Chambre Immobilière, the Chambre Patronale du Bâtiment, the Syndicat des Promoteurs and the Ordre des Architectes - in March this event brought together a number of local and international PropTech players, including the architectural firm, Foster & Partners, founded by Sir Norman Foster who are responsible for projects such as the Monaco Yacht Club, the Millau Viaduct and the Great Court of the British Museum. Start-ups Oghji, YouStock and Net0, all three incubated at Monaco Tech, presented their strategy for reducing carbon footprints and optimising the energy efficiency of buildings. 

It was also an opportunity for the Monaco Government, in partnership with ESCP Business School, to present the 4th edition of its barometer devoted to the global PropTech market, which can be accessed on the Extended Monaco pour l'Entreprise website: eme.gouv.mc.