Real estate consultancy firm India Sotheby’s International Realty (ISIR) today announced a strategic investment in CRE Matrix, a deep analytics platform, with a view to increase synergies, improve data processing and sharpen analytical skills in the property market.
The current investment will enable the company to draw on superior analytics of CRE Matrix in residential and commercial real estate, with a view to undertaking more analytics-based transactions and advisory services, with offer data-backed pricing to its domestic and international clients, it said in a press statement.
Ashwin Chadha, president, India Sotheby's International Realty, said, "CRE Matrix will enhance our ability to bring new products to the market using Big Data, Deep Learning and Natural Language Processing (NLP) technologies to store, retrieve and analyze billions of data points across millions of Pan-India real estate transactions. CRE Matrix’s ability to compile and collect data on buying, selling and leasing trends in a specific area, traffic, demographic information, consumer survey results and cutting-edge analytics will help ISIR to offer better insights on pricing, home-value trends, and potential value in certain high value neighborhoods."
With CRE Matrix going deeper into AI and machine learning, it will become possible for ISIR to recommend properties based on preferences and personality traits in the near future, it added.
For CRE Matrix, this investment by India Sotheby’s Real Estate’s investment is beyond just financial. ISIR will provide CRE Matrix valuable inputs and insights on product development, with its vast domestic and international client interface experience.
Abhishek Kiran Gupta, CEO and Co-Founder, CRE Matrix said, "I am particularly thrilled to share that Sotheby's International is picking up an equity stake in CRE Matrix. I see tremendous synergy in this association, not only from a complimentary business perspective but also on the highly competent and supplementary human capital strength. The two brands together will create many new systems, products, services for each and all stakeholder within the PROPTECH eco-system including the Indian buyer."
The current investment adds a valuable layer to ISIR existing digital, and tech led offering to its clientele. Prop-tech is changing the way we buy, sell, lease, and interact with our properties, the real estate consultancy firm said while announcing the investment in CRE Matrix, the statement added.