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XPLOR, a homegrown tech start-up seeking to revolutionise the construction and real estate industries in the Middle East and North Africa (Mena), has raised $3 million in new funding with the backing from Dubai-based Ayana Holding, its lead investor.
We are confident that the fresh funding will incentivise our pursuit of innovations and further enable us to create a meaningful impact on the regional real estate industry.
The real estate sales in the region were affected in the first half of 2020 after the pandemic-induced movement restrictions hampered in-person visits by prospective buyers. However, that has led to a growth in tech firms facilitating online viewings.
Xplor is partly tapping into this segment, allowing investors to get a feel of the properties through its 3D models.
“Most real estate investors will make a decision after seeing it in person, but this software truly outdoes that experience,” Mr Turkan said.