One of Asia’s biggest proptech group for global property, Juwai IQI, and leading Dubai real estate firm Key One Realty today announced their partnership
The compact is intended to help both companies serve the fast-growing Indian and Chinese buyer demand for property in the emirate.
Juwai IQI is the combination of two Asian real estate super-brands that announced their merger in July 2019. IQI Global is the “No. 1 real estate network in Southeast Asia and the Middle East”, with more than 6,000 salespeople across 25 offices across 15 countries. Juwai.com is the “No. 1 Chinese marketplace for overseas property” with 3 million real estate listings from 91 countries.
Key One Realty is a Dubai based real estate company that has specialized in UAE residential, commercial and retail properties since 2006.
Juwai.com’s data on Chinese buying trends reveals that Dubai is one of the fastest-growing destinations for Chinese investors over the past several years. Since the first half of 2018 alone, quarterly rates of Chinese buyer inquiries have more than tripled.
Kashif Ansari, Group CEO of IQI Global said:
“We are very excited to be locking arms with Key One Realty. The data from Juwai.com’s 3.3 million monthly visitors enables us to analyze demand trends in specific regions and tailor products to meet those needs. Chinese buying in Dubai has been growing phenomenally. We want to provide the industry with better solutions to help them complete transactions with this market.
“Juwai IQI is investing in artificial intelligence systems seeded by seven years of online data from Juwai.com and by human intelligence captured by IQI Global’s international team of more than 6,000 people. The algorithms will analyze patterns of consumer behavior to determine intent, such as relocation or retirement so that the consumer can be provided with smarter property suggestions that move them more quickly to a transaction.
“Chinese investors spent at least Dh1.8 billion, or half a billion US dollars, on real estate in Dubai last year. That data for 2019 isn’t yet available, but we expect it to be higher, despite the local market woes. The number of Chinese living in Dubai has increased by 53% over the last five years.”
Key One Realty’s Founder, Diana Magariu, said:
“IQI Global and its sister firm, Juwai.com, currently serve many buyers from China and South East Asia. In Dubai, foreign buyers account for 18.5% of real estate transactions, according to Dubai Land Department data. Chinese moved up from the 6th most important buyer group two years ago to fourth in 2018.
“We believe that the partnership will enable us to cater to a larger customer base by marketing Dubai property globally through one of Asia’s biggest property portals and Asia’s largest agent network.
“This partnership will also help us fulfill the vision of Emiratization proposed by H.H Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. 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.”