Saudi Arabia’s real estate market, historically data-poor, is being transformed by Quant, a company founded by Ahmed Bukhamseen, which provides detailed property data. Partnering with Huawei, Quant enhances its services by leveraging robust data and advanced technology for seamless user experiences. The app democratizes access to property markets while future projects aim to further enrich data insights.
Saudi Arabia, while one of the wealthiest nations, had historically lagged in data accessibility within its real estate sector. Ahmed Bukhamseen, the founder of Quant, aimed to address this issue by leveraging a data-centric approach to revolutionize property investment, providing transparency in pricing details for diverse investors. At the core of Quant’s operations is a robust suite of data, including advertised and realized property prices, construction details, and geographic information.
During a discussion at the Mobile World Congress in Barcelona, Mr. Bukhamseen emphasized the significance of adhering to data protection regulations within Saudi Arabia, comparable to GDPR standards in Europe. This compliance necessitated transitioning data hosting from Microsoft Azure in Europe back to Saudi Arabia, in alignment with the local data policies set forth by the Saudi Data and AI Authority.
Quant’s partnership with Huawei developed as the company’s data requirements increased. Initially, Quant utilized municipal data registries but has since expanded its offerings to include local data and high-resolution satellite imagery. As the demand for real-time data rose, they recognized the challenges of transferring this data between regions, leading to a need for a more efficient data processing strategy.
To effectively process data, including frequent satellite imagery updates, Quant initiated trials with Huawei to evaluate latency and ensure a seamless user experience in its mobile application. The Quant app is designed to democratize access to the real estate market, accommodating a wide array of users from first-time buyers to portfolio managers.
The innovation within Quant does not end here; they plan to enhance data enrichment to improve client services further. Mr. Bukhamseen stated the importance of advanced feature detection capabilities, allowing for accurate representation of zoning and construction projects through satellite imaging. Although capable of developing their models internally, Quant has opted to utilize Huawei’s technology for expedited results.
Future initiatives also encompass a dedicated service for retailers to find optimal store locations based on demographic data. Moreover, an expansion of data insights into the rental market is underway. Given Saudi Arabia’s fast-paced development, Quant and Huawei are committed to maintaining a competitive edge in the real estate sector, facilitating instant property transactions for foreign investors with comprehensive data support.
Quant, under the leadership of Ahmed Bukhamseen, is poised to transform Saudi Arabia’s real estate market by providing innovative data solutions. The strategic partnership with Huawei strengthens their capabilities, enabling faster data processing and enhanced user experiences. As they continue to refine their offerings and expand into new areas, Quant’s approach will undoubtedly further facilitate transparency and accessibility in property investment.
Original Source: www.artificialintelligence-news.com
