Kuwaiti Proptech Taskeen Al Oula Acquired by Real Estate Giant 3S

Kuwaiti proptech, Taskeen Al Oula, has been acquired by 3s International Real Estate, a giant in the field that specialises in everything from real estate and hospitality, to insurance, logistics and manufacturing.

With its tech-driven, fully-integrated app, Taskeen will use its fresh fund to develop new technical services and create a digital community for tenants. On the part of 3S, the acquisition comes as part of expansion plans for its real estate technical services, harnessing the power of Taskeen’s tech.

Founded in 2017, Taskeen delivers a consolidated platform that allows real estate owners to manage all aspects of their property rentals including collecting rents, communicating directly with their tenants, delivering maintenance services, displaying vacant properties and compiling periodic reports for property owners. 

Taskeen works to assist property owners in monetising and optimizing every SQM, fully-utilising spaces and fine-tuning the tracking of daily operations in real estate. The market for purchasing Tech startups, large and family companies, has in recent times gained great traction due to the innovative time- and effort-saving services provided by these startups.

The real estate and proptech ecosystem is still a budding industry in MENA, but a handful of startups are leveraging technologies to disrupt traditional Real Estate models. After the challenges brought on by the COVID-19 pandemic, there was a fundamental change in real estate practices in Kuwait and more broadly, the entire global real estate markets, with an increase in investors and traditional firms showing interest in proptech and digital solutions.