Opinions expressed by Digital Journal contributors are their own.
People who can identify great ideas are as crucial for their success as those who come up with them. Every prosperous business needs a knowledgeable investor who can see its place in the market. No project can flourish without resources. Making the right connections is an essential component of any venture to evolve.
Together, the real estate and technology industries make up more than 15 trillion dollars in the global economy. This number is only going to go up in the following years. However, not much has been done to combine these two industries. The market is wide open for opportunities in this space.
Enter tech and real estate investor Zach Witkoff. Boots and hard hat, Zach has been working in construction since he was 15. His father, Steven Witkoff, has been in the real estate business for over 35 years and founded the Witkoff group in the late 90s. The company has developed notable hospitality projects in the United States, including The Hollywood Edition, the Times Square edition, and the Public Hotel in New York City. They are currently working on the biggest mixed project in Miami, an ecosystem designed so that you don’t have to leave the property if you don’t want to. In a similar fashion, they are creating a golf club for business leaders, which will serve as a space for making connections and exchanging ideas.
Witkoff graduated Magna Cum Laude from The University of Miami’s Business School, where he became interested in tech. Later, in 2019, he opened the family office Witkoff Capital intending to become a bridge between real estate and tech. Besides construction, the firm invests in prop tech, AI, blockchain, and other related technologies.
“We are very long in hard assets and want to diversify into tech while maintaining a strong real estate presence.” Revealed Witkoff. “Real estate is a business that hasn’t innovated very much over the past fifty or sixty years, whereas you’ve seen innovation in almost every other industry, It’s only a matter of time before that innovation occurs. I think we’re seeing it today, and that’s what we’re trying to capitalize on,” he added.
The Witkoff Group’s perspective goes beyond construction; they like to think about experiences and building solid relationships. Their vision is to connect individuals, communities, and cities for decades to come. True to that mentality, Zach Witkoff is interested in disruptive enterprises that he can incorporate into Witkoff Capital’s portfolio. He has an excellent eye for recognizing groundbreaking ideas and the network for bringing them to fruition.
“AI and tech are changing the landscape of how humans operate every day, and we’re only in the early innings. As AI starts to accelerate, there will be a lot of automation that streamlines processes in real estate and other areas, and it will be a game-changer. So that’s certainly one of the themes of our family office.” Said Witkoff.
We are going through a critical moment in history. Trying times call for innovation. Like Zach Witkoff, we can seize opportunity and trust that we are going in the right direction.
