Transforming Saudi Arabia’s Real Estate Market: Quant and Huawei Collaboration

Quant, under the leadership of Ahmed Bukhamseen, aims to transform the Saudi Arabian real estate market by emphasizing data transparency and accessibility. The partnership with Huawei enhances operational efficiency and technological advancements, allowing for improved processing and data storage. Their innovative mobile application opens real estate opportunities to a broad audience while promising future enhancements in data offerings and analytics for investors.

Saudi Arabia, a wealth-laden nation, has recently improved its data availability in the real estate sector, previously lacking such resources. Ahmed Bukhamseen, founder of Quant, is committed to revitalizing the property investment landscape by providing essential pricing information to prospective buyers, investors, and speculators. By harnessing critical data such as advertised prices, mapping, construction details, and satellite imagery, Quant enhances market transparency and accessibility.

During an interview at the Mobile World Congress in Barcelona, Mr. Bukhamseen discussed the motivation behind Quant’s data strategy. The company shifted its data operations to comply with Saudi Arabia’s new data protection regulations, similar to the GDPR, necessitating a local data host. This transition signified a pivotal move from Azure in Europe to ensuring compliance with national guidelines governed by the Saudi Data and AI Authority.

As Quant evolved, so too did its infrastructure needs. Initially reliant on municipal data registries, the company has integrated local data and high-resolution satellite imagery into its offerings. This approach mitigated costs associated with data transfer and storage pertaining to satellite imagery, previously processed between Saudi Arabia and Europe. The infusion of advanced satellite imaging technology has led to a doubling of image frequency from bi-weekly to daily updates, facilitating more current and comprehensive data delivery.

Quant’s innovative mobile application democratizes real estate access, catering to a diverse range of users, from first-time homebuyers to portfolio managers and landlords. It consolidates property pricing, mapping, satellite imagery, and governmental planning documents into a user-friendly platform, minimizing the previously prevalent price variances in the market.

Plans for Quant include further refinement of its data offerings, such as feature detection and object recognition to enhance land use planning and zoning processes. Though capable of developing its own models, Quant has opted to collaborate with Huawei, significantly reducing deployment times from six months to four hours, thereby hastening their data processing capabilities.

Moreover, Quant is scheming to introduce a service to guide retailers on optimal store locations based on demographic data. Their projects also encompass expanding into the rental market, underscoring a comprehensive approach to data utilization. Quant and Huawei remain committed to agile responses aligned with Saudi Arabia’s rapid development to attract foreign investment, significantly enhancing property purchase accessibility through user-friendly data applications and insights.

Ultimately, Quant’s partnership with Huawei signals a transformative shift in Saudi Arabia’s real estate market, providing innovative solutions that equip investors with timely data for making informed decisions. Foreign investors can soon engage in property transactions seamlessly, necessitating robust data to gauge investment viability in a landscape expected to see significant growth and returns.

The Quant app is now available for download, presenting an accessible entry into the evolving Saudi real estate market. For additional insights into Huawei’s service offerings in Saudi Arabia and beyond, further resources are available online.

In conclusion, Quant is poised to revolutionize the real estate sector in Saudi Arabia by leveraging data-driven solutions in partnership with Huawei. The improved data transparency and accessibility foster a more informed investment environment. As the company continues to refine its technological offerings and expand its market reach, the implications for both local and foreign investors are promising, potentially enhancing property investment dynamics significantly in the region.

Original Source: www.artificialintelligence-news.com