UAE-Based Prop-AI Raises US$1.5 Million In Pre-Seed Funding

Prop-AI, a UAE-based artificial intelligence (AI)-powered proptech platform, has raised US$1.5 million in a pre-seed round led by UAE-based Plus VC, with participation from leading firms like Joa Capital, a tech-focused early-stage investor, Select Venture Equity, a Dubai-based venture equity firm specializing in multi-stage investments across the MENA and Canada, Oraseya Capital, the venture capital fund of Dubai Integrated Economic Zones Authority (DIEZ), and global accelerator Plug & Play. 

Founded by Ranime El Skaff and Christian Knuz in Dubai in 2023, Prop-AI leverages advanced AI and machine learning to streamline and elevate the property search, evaluation, and presentation process. The platform is designed to empower everyone—from first-time homebuyers to institutional investors—to make informed, confident decisions in dynamic and often complex real estate markets. 

In a conversation with Inc. Arabia, El Skaff, who also serves as the CEO of Prop-AI, explained that the company is building what they describe as the “Bloomberg of real estate,” i.e. a centralized platform aimed at bringing clarity and structure to a historically fragmented market. “When we say the 'Bloomberg of real estate,' we mean a platform where investors, agents, and institutions can access clean, structured, and actionable real estate data—all in one place,” she explained. “Whether you're a first-time buyer or a fund manager, Prop-AI gives you the tools to navigate the market with confidence, powered by verified listings, predictive insights, and contextual intelligence.” 

The recent investment is set to allow Prop-AI to broaden its regional data integration, advance its technology and AI development, and establish strategic partnerships with real estate developers, brokerages, and financial institutions throughout the MENA region and internationally.  According to El Skaff, the MENA real estate market suffers from deep fragmentation, driven by the absence of a centralized multiple listing service (MLS) and a reliance on incomplete or outdated data. “The market is biased with the current dynamic where sellers and seller brokers hold the knowledge and hence the power,” she said.  

Prop-AI is addressing this challenge by building its own data infrastructure using public records, developer pipelines, listings, and broker networks. Through deep enrichment and custom indices, the platform turns fragmented inputs into structured, actionable insights. “We look at more than three billion data points that our AI cleans, enriches, and correlates," El Skaff explained. "This allows us to surface gaps others might miss: underpriced units, emerging hotspots, developer risk, absorption rates, or even rental return on investment by floor level. Ultimately, we’re filling the trust and transparency gap—making real estate less opaque, and more like a tradable, data-informed asset class.” 

El Skaff told us that Prop-AI’s strength thus lies in how it blends technology with user empowerment. “Real estate is nuanced—it’s not just about numbers, it's about context," she said. "That’s why our AI is built to guide, not decide. We use AI, machine learning, and our algorithms to surface smarter recommendations, simulate different investment scenarios, and flag hidden risks and fees—but the user is always in control.”

Reflecting on Prop-AI’s journey, El Skaff acknowledged the cultural challenges of introducing AI into a traditionally relationship-driven real estate market. “There’s definitely a cultural shift to navigate—many brokers and developers built their businesses on relationships, intuition, and in some cases, information asymmetry. So when you come in with AI and transparency, some pushback is natural,” she noted. But El Skaff said those initial challenges haven’t diminished their optimism about the market’s evolution. “But the turning point comes when they realize we’re not here to replace them—we’re here to amplify their reach and credibility. Brokers who work with us close deals faster because our buyers come in well-informed,” she shared.  

She also pointed out that Prop-AI also ensures that its tools are built with developers in mind to ensure adoption. “Developers see our data-driven feedback loop as a way to fine-tune pricing, product, and launch timing," she added. "We are also lucky to see that there is an overall shift in the market towards a more transparent, more data-driven approach. More and more people are seeing the value of data and information before making any decision. We’ve also built tools that speak their language—interactive maps, dashboards, investment simulators, etc.—and most importantly, we involve them in the loop. That cultural buy-in has been key.” 

According to El Skaff, what sets Prop-AI apart is its hybrid approach that combines advanced data science with real-world market intuition. “We don’t just build algorithms in isolation—we bring them to reality,” she said. “We leverage our own advisors and daily market interactions to ensure our insights aren’t siloed. That makes our recommendations not only intelligent but relevant.” This blend of tech and human expertise, she added, ensures Prop-AI stays grounded in the complexities of real estate while delivering actionable value to users. 

As the company expands to new markets, it will increasingly draw on the lessons it has learned at home. In fact, El Skaff believes that having a footprint in Dubai has provided Prop-AI with a distinct advantage and shaped the company's approach to growth and innovation. “Being born in Dubai gave us a unique advantage—it’s a fast-moving market, open to innovation, but also incredibly diverse,” she said. “That forced us to build flexible infrastructure from day one, capable of handling a dynamic market, changing legal frameworks, and user behaviors.”

“As we move into other cities, we’re not doing a copy-paste," she added. "We have gained an incredible amount of knowledge and information—most importantly, know-how. There is a playbook and while it won’t be the same for every single market, the fundamentals are the same. Data is data everywhere." El Skaff added that essentially, the aim is to ensure that Prop-AI remains grounded in data, while agile enough to adapt to the specific needs of each market it expands into. “Once you understand what kind of data is needed, the level of granularity, and what can be done with the data, the output is clear," she said. "We are targeting international investors, and what is most important for us is to speak their language—that is pretty universal." 

As for her advice to other entrepreneurs building AI-first companies in industries like real estate, El Skaff emphasized the importance of focusing on real problems. “Start with the problem, not the tech," she said. "AI is a tool—a powerful one—but it only matters if you’re solving something real and painful. In our case, it was the frustration of being busy professionals with money to invest but no time or data to make smart decisions." She also highlighted that founders need to ensure that they are giving investors just the right amount of information to empower them to make better decisions. “It is a fine line between giving comfort to investors and other players in the real estate market and overwhelming them," she explained. "You need to understand what your clients care about, how deals are made, and what drives trust.” 

"And finally, don’t be afraid to build your own infrastructure if the existing one is broken," El Skaff added. "Yes, it’s harder. But that’s where the moat is. This for us came in the form of all the data pipelines and the complexity, granularity, and ability to marry databases that don’t initially talk to each other.” 

Pictured in the lead image is the Prop-AI team. Courtesy of Prop-AI.