Abdul Basit
IQI, a leading global real estate firm, on October 22 announced its partnership with Key One Realty Group, a leading real estate firm in Dubai, to fulfil the growing needs of real estate investors across the world and especially from China and India.
IQI and Juwai.com, the leading property portal for Chinese investors, merged recently and established a strong real estate entity that 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.
“We are very excited about 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,” IQI Group Chief Executive Officer Kashif Ansari said during a news conference in Dubai on Tuesday.
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.
Speaking to The UAE News, Kashif Ansari said the company has plans to expand its presence in the Gulf region and Saudi Arabia will be next destination in GCC countries. IQI has a presence in the UAE for the last couple of years.
The global real estate witnessed 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 6,000 people globally. The algorithms will analyze consumer behaviour 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.
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 His Highness 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 programme 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.
Kashif Ansari concluded, “Bringing together Juwai, IQI and Key One, backed by our proficient AI capabilities, we expect it to be nothing less than a genie in the bottle that helps them achieve their desire.” – abdulbasit@theuaenews.com
