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.
February 2021 614 UAE hotels braved a tough year in 2020 and are looking to 2021 with hope following the vaccine rollout. However, increased upcoming supply amid a slow revival in demand will see revenue and occupancy levels likely move lower in 2021, according to Cavendish Maxwell, a leading property consultancy and chartered surveying firm providing services in the Middle East and Africa. As expected, 2020 was a tough year for the hospitality industry in the UAE, with several hotels in shuttering on a temporary or permanent basis. However, some others have used the pandemic as an opportunity to revisit and cut operating costs thereby improving margins not only for 2020 but beyond. As a result, they have successfully brought down the occupancy rate required to break-even, which is lower than the typical 40 per cent, said the expert in its Q4 2020 UAE Property Market Report, containing key data and trends for Dubai, Abu Dhabi and the northern emirates.