Magicbricks, a leading real estate portal, has acquired a majority stake in PropViz to elevate its technological offerings for developers. The acquisition reinforces Magicbricks' commitment to redefining real estate interactions through advanced solutions such as 3D visualisations, virtual walkthroughs, smart location maps, and integrated booking systems. This strategic move aligns with its mission to enhance customer engagement, streamline decision-making, and accelerate sales for developers. PropViz, established in 2019, has a proven track record of creating extensive virtual spaces and interactive layouts, complementing Magicbricks' existing developer-centric services like verified leads and site visits.
Magicbricks, a prominent real estate portal, has announced its acquisition of a majority stake in PropViz, aiming to provide advanced technological solutions to developers. Earlier this week, Magicbricks stated that this strategic investment highlights its dedication to delivering cutting-edge technology to redefine real estate interactions and set new standards in customer engagement.
The company has introduced an innovative suite of solutions developed by PropViz, including virtual walkthroughs, interactive tours, smart location maps, integrated booking systems, and real-time inventory management tools. These tools are designed to enhance buyer engagement, simplify decision-making, and boost sales efficiency for developers.
This acquisition builds on Magicbricks' existing offerings, which include verified leads and site visits. Sudhir Pai, CEO of Magicbricks, explained that their enhanced portfolio now provides tailored solutions for both homebuyers and developers, supporting the entire project lifecycle from pre-launch to sustained sales.
Founded in 2019, PropViz has achieved significant milestones, such as designing over 125 million square feet of virtual spaces and creating more than 1,800 interactive spatial layouts. It has collaborated with more than 100 developers, making it a valuable addition to Magicbricks' suite of developer-focused solutions.
The acquisition of PropViz by Magicbricks marks a significant advancement in the integration of technology within the real estate sector. By offering an expanded range of innovative solutions, Magicbricks is well-positioned to enhance both developer and buyer experiences. This strategic move underscores Magicbricks' commitment to redefining real estate interactions and supporting developers throughout various project stages. With PropViz's expertise in virtual space creation and interactive layouts, Magicbricks aims to set a new benchmark in the industry, further solidifying its leadership in tech-driven real estate services.
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