Dubai-based Real Estate Firm Acquires Stake in PH Property Start-up
IQI Global seeks to capitalize on the growing property tech industry
PHOTO CREDIT: Getty Images
Dubai-based global real estate investment and advisory firm IQI Global announced its acquisition of “a substantial stake” in GetMore Global, a Philippine-based property tech start-up. However, no figures were disclosed at an event to mark the signing of the deal.
The new venture is expected to expand solutions across the lifecycle of new property developments not only for the benefit of developers but also to address the needs of brokers in improving efficiency, and generating and managing leads.
“We believe that brokers, sellers, and agents are the most important part of the real estate industry. With this new venture, we will be bringing together property developers, brokers, and buyers to increase transparency and speed up the process,” IQI Group CEO Kashif Ansari says.
Grace Granlund, founder and CEO of GetMore, says the company plans to go global this year and that the collaboration with IQI Global is “exhilarating.”
“Globally, the real estate industry, despite being at the center of every other industry, is the slowest to adapt technology with a largely manual selling process,” Granlund says. “Our goal,” she adds, “is to disrupt that by automating the buyer journey — from lead generation to property turnover through cloud-based technology.”
They plan to do this through GetMore’s MiDash, a cloud-based, client-facing real estate sales management platform for developers, their teams, and their buyers. One feature is the Sales Kit section for all sales-related materials, which agents can download, print, and e-mail to clients. The developer’s inventory is also shown on the platform in real-time so agents can check a unit’s availability and make reservations on behalf of clients, among other functionalities.
The acquisition of GetMore Global is a step in the right direction for IQI in its bid to grow and capitalize on the $1.29-trillion property technology (proptech) industry. IQI hopes to “spearhead the proptech revolution in all its locations.”
IQI expects that by adopting new digital sales technologies, it will be seen as an innovative leader in the region. “Being an award-winning agency, we believe it is our duty to build the best environment for developing high tech methods of trade, bringing the real estate industry firmly into the 21st century,” says Nabeel Mungaye, IQI Group COO.