Revolutionizing Real Estate: How Quant and Huawei are Shaping Saudi Arabia's Property Market
In a world where technology is reshaping industries, the marriage of artificial intelligence (AI) and real estate in Saudi Arabia emerges as a fascinating narrative. Two giants in the tech space, Quant and Huawei, are at the forefront, transforming how property investments are managed in this region. Let’s take a closer look at how these companies are changing the landscape of real estate in Saudi Arabia.
Despite its immense wealth and investors’ strong preference for the property market, Saudi Arabia has lagged in data accessibility within the real estate sector for many years. Enter Ahmed Bukhamseen, CEO of Quant, who envisioned a shift. He set out to bridge the gap between buyers, sellers, and essential pricing information.
At the heart of Quant's vision lies a robust data foundation. They compile everything from advertised and actual pricing to geographic data, monitoring ongoing construction projects, and even satellite imagery. During a recent chat at the Mobile World Congress (MWC) in Barcelona, Ahmed illuminated their ambitious goals, particularly the platform they chose for data management.
“Our primary hurdle was ensuring data protection compliance,” Ahmed explained, referring to the new regulations akin to GDPR implemented in Saudi Arabia. This led them to switch from Microsoft's Azure platform in Europe to local hosted solutions for better data security. A savvy move in an era where privacy is paramount.
Collaboration with Huawei emerged as a game changer for Quant. Initially uncertain, they soon discovered Huawei's robust cloud services, crucial for handling their growing data needs. From the outset, their aim was to start small by leveraging municipal data, but this quickly evolved to include enriched offerings from satellites and local sources.
"We faced challenges with data transfer delays, with information bouncing back and forth between Saudi and Europe," Ahmed noted. “Now, we run AI on the edge, which significantly streamlines the storage and processing of high-resolution satellite images.” These images are invaluable in capturing the intricate details of buildings—both completed and under construction—frequently, now upgrading to a daily capture cycle.
Quant’s mobile application aims to revolutionize the property market by acting as a one-stop-shop for everyone from first-time homebuyers to seasoned investors. By seamlessly integrating property prices, satellite images, maps, and municipal licenses, they empower users to make informed decisions peacefully devoid of the erratic pricing volatility characteristic of the past.
As Quant progresses, they're not just sitting back. They're refining their database, aiming to incorporate sophisticated features like object detection for property zoning distinctions. “By utilizing space-derived data, we can provide clarity on construction plans that local regulations might obscure,” Ahmed enthused.
Collaborating with Huawei cuts down production time dramatically for Quant. Instead of developing new models from the ground up—a process that could take six months—they’ve slashed that to just four hours. That’s truly a leap in efficiency!
Put simply, they’re not just keeping up with Saudi Arabia’s rapid development; they're setting the pace. The goal? Enable foreign investors to make property investments with a simple touch, gaining immediate insight into growing markets and costs before they click ‘buy.’
For those intrigued, the Quant app is now available, ready to transform how you view property with just a few taps. Plus, you can discover more about their innovation on their website, and check out Huawei’s offerings in the region, pushing the envelope in technology!
As AI continues to intertwine with real estate, the possibilities seem boundless. You might wonder, with such advancements, where will this lead us next?
