RAY: Driving Digital Transformation in Property Management in Saudi Arabia

Find out more about Ray's strategic entry into Saudi Arabia's proptech industry and its innovative solutions that transform property management.

Saudi Arabia's real estate sector presently contributes 12% to the Kingdom's GDP, and with Vision 2030 targeting 70% homeownership, keeping up with proptech advancements has become essential for property managers.

Amid the country's rapid urbanization, real estate developers and property managers are increasingly relying on digital tools to manage and maintain their property portfolios.

Global proptech RAY stepped up to meet this challenge head-on, shaping how properties are managed, leased and maintained.

With the support of AstroLabs, the Gulf's leading business expansion platform, RAY recently set up a business in Saudi Arabia, marking a significant milestone in its global growth journey.

A Leading Innovator in Saudi Arabia's Proptech Industry

Over the years, Ray has established a strong position in Saudi Arabia’s proptech industry. The trust RAY cultivated with its partners enabled it to quickly gain an early-mover advantage in Saudi Arabia's thriving proptech industry.

This strategic foundation positioned RAY perfectly for the next phase of its growth.

"Our early deployments in the Kingdom gave us validation of the market fit. Moreover, the early adopters of our platform validated the value of our solutions," said Ayman Kichly, founder and managing partner of RAY.

"This has positioned us as a trusted brand among developers and gated community operators. In addition, our early successes, combined with the market's rapid digitalization, made it a logical next step to formalize our presence and scale and expand operations in the Kingdom," Kichly explained.

RAY's expansion was largely supported by AstroLabs' on-the-ground team.

With expert advice from its in-market professionals and a comprehensive suite of setup and post-setup services, AstroLabs has played a crucial role in streamlining Ray's strategic entry.

"RAY's journey in Saudi would not have been the same without the AstroLabs team's exceptional support, strategic guidance, and unwavering commitment," Kichly noted.

"From the very beginning, AstroLabs played a key role in helping us establish, expand, and navigate the market. Their support has made what could have been a complex process feel seamless and well-structured," Kichly continued.

How Smart Property Management is Transforming Saudi Arabia’s Real Estate Market

RAY's continued growth stems from a growing demand for smart property management solutions in Saudi. The ongoing construction boom, driven by large-scale initiatives including giga-projects such as NEOM, Qiddiya, and ROSHN, provides global proptechs like Ray with timely growth opportunities.

As more developers recognize the platform's value, RAY's client portfolio continues to expand. The company serves everything from luxury residential compounds to large-scale mixed-use developments. Its long list of partners includes award-winning industry pioneers such as Rafal Communities and Vives Compound.

RAY leverages data analytics and advanced technologies like automation to help developers and property managers consolidate their operations, tenant interactions, and decision-making. This approach significantly enhances tenant satisfaction and ultimately increases return on investment (ROI).

The launch of Ray’s Riyadh hub demonstrates its long-term commitment to the Saudi market, setting the stage for the global leader to fuel the widespread adoption of impactful proptech innovations in the Kingdom and further afield.

"Our strong footprint and proven solutions position us to influence industry standards. Our continued expansion into Saudi Arabia is a natural progression. This bold step shapes the future of real estate technology in the Kingdom and the wider region," Kichly concluded.