The company says the platform is the first to introduce high-definition 3D maps for high-fidelity real estate visualization. Short for real estate technology, proptech is the intersection of the real estate industry with technology and software. Proptech is an innovative approach to real estate in which technology optimizes the way people find, rent, buy, sell and manage property.
“With this solution, users can search through more than 2,000 potential real estate projects across Dubai through its interactive 3D interface, get comprehensive project details, and enter the project metaverse as an avatar,” the company said. .
“Imagine searching for properties to buy, sell, and rent in Dubai in high-quality, full-scale 3D, tour the project building in virtual reality, walk through amenities and interiors, and virtually interact with the residents and vendors,” said Tanuj Shori, the company’s co-founder and CEO.
According to Shori, with the launch of its Metaverse 3D platform, the company is bringing real estate into a virtual realm, making it more experiential, immersive and yet easily accessible to the masses.
“Users can enjoy 3D virtual tours remotely and perceive accurate representations of the property, which will create an emotional grounding in the space and encourage them to close a deal at the end of the day,” he said. declared.
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This high-tech 3D visualization platform is currently being tested with a closed group of users and property developers. The company aims to work with developers in Dubai to bring their upcoming launches into this ecosystem so customers can buy, rent and sell properties digitally.
The Metaverse product is built with multiple layers of data, including maps, 3D content, transactions, lists, and project information. Each project building consists of a sales hub and its digital twin as a metaverse, where users can step inside and navigate through amenities, the project, and interiors using their avatar. choices as if they were living a digital life in the virtual world. They can also speak to dedicated sales representatives via voice conference.
“Square Yards’ Metaverse tool will help architects, governments, and real estate developers create a fully digital selling experience, as well as pave the way for the Metaverse transformation of the real estate industry,” said Sunder Jagannathan, Principal Partner and co-founder PropVR.
The company also plans to launch this product in other markets like India, Canada and Australia soon.
The Metaverse market is expected to grow from $478.7 billion in 2020 to $783.3 billion in 2024, growing at a CAGR of 13.1%. This growth is likely to come from the growing popularity of Metaverse applications in games, AR and VR. However, the sustainability of this projection will depend on the awareness and speed at which developers adopt new technologies.