Every great idea needs resources to prosper. Finding a ground-breaking project and making the right connections to help it find its way in the market is as important as coming up with it. Investors who can envision the direction of a business are essential for innovation.
The real estate market is one of the most perennial. There’s always a need for it, and that’s perhaps why it occupies a space of nearly 10 trillion USD in the global economy (at the time of this writing). However, according to investor Zach Witkoff, it hasn’t innovated much in the past fifty to sixty years. Implementing technology in this industry is a disruption that is still waiting to be made, and Witkoff is looking to make a dent in it.
Zach Witkoff comes from one of the most notable real estate families in the United States. He has been working in construction with his father, Steven Witkoff, since he was 15 years old. While he was studying at The University of Miami’s Business School—from which he graduated with high honors—Zach developed an interest in technology. When he founded Witkoff Capital, the family office, in 2019, he set out to turn this interest into profit. “We are very long in hard assets and want to diversify into tech while maintaining a strong real estate presence.” Commented Witkoff. The firm is investing in prop tech, AI, blockchain, and other technologies along with construction.
The Witkoff Group, founded in the late 90s by Steven Witkoff, is a company that prides itself in constructing more than just buildings. Its vision is to connect individuals, communities, and cities for years to come. When it comes to real estate, the group develops experiences: ecosystems integrated so that the people who inhabit them never have to leave the property if they don’t want to. Witkoff is well recognized for projects like The West Hollywood Edition, The Times Square Edition, and the New York City Public Hotel. They are currently working on Miami’s largest real estate project.
Zach Witkoff is skilled at identifying technologies with real potential. Consistent with the company’s values, he doesn’t only want to invest capital in inventive projects; he wants to take them into the family office’s portfolio and help them find the right partners to scale up. “I know how construction works and how tech can be used to accelerate that.” Asserts Witkoff. “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.” He added.
To cultivate and amplify these relationships, the Witkoff Group is developing a golf club for business leaders. Also designed as an ecosystem, the members will be able to bring their families to enjoy its large spa and other facilities. Zach is also looking to start a tech fund with some key partners in the space.