With the recently announced merger between IQI, a leading global real estate firm and Juwai.com, the leading property portal for Chinese investors, the merged entity now represents Asia’s biggest proptech group for global property.
Analyzing property demand trends of Chinese consumers as recorded by Juwai.com over the past seven years, Dubai stands out as one of the top destinations for Chinese investors. To serve the increasing demand, IQI announced its alliance with Key One Realty Group, a leading real estate firm in Dubai.
Kashif Ansari, Group CEO of IQI announced, “We are very excited with this partnership. With the data from the 3.3 million visitors every month on Juwai.com we’re able to analyze the trends and demand for property in specific regions and tailor products to meet those needs.” Juwai.com currently serves a large number of buyers from China and South East Asia. The company now plans on expanding its successful operations across the Middle East, North Africa and India.
The global real estate saw transactions of $1.6 trillion in 2018 with Indians being the second largest group of foreign home buyers in the world after the Chinese. The number of new high worth individuals in India grew by around 26%. With these figures in mind, Kashif Ansari added “With our success in China and Asia, we are confident of being able to serve Indian clients in their search for lucrative global property investments.”
The company is investing in Artificial Intelligence systems seeded by seven years of online data from Juwai.com and human intelligence provided by IQI’s team of over 6000 people globally. The algorithms will analyze consumer behavior and patterns to determine consumer intent, such as relocation, preferences or retirement, instead of the regular format of property suggestions based on the consumers inputs.
“Juwai.com offers more than just property. It’s a property marketplace.”
Key One’s Founder, Diana Magariu said “We believe that the alliance would bring to the table expertise that can create a unique partnership. Together we can explore and cater to a larger customer base by bringing global properties on a digital platform through one of Asia’s biggest property portals. Also in keeping with the Vision of H.H Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for Emiratization, we are in the process of developing a multidisciplinary global training and development program for the Emirati Youth geared towards Real Estate best practices and strategies”.
“The core strengths that have contributed to the recognition and success have been our understating and appreciation of Human Capital Development and policy of equal opportunity and growth.” added Diana Magariu.