Quant, led by Ahmed Bukhamseen, is revolutionizing Saudi Arabia’s real estate market by providing comprehensive data on property investments. Utilizing cloud services from Huawei, the company enhances transparency with advanced features like satellite imagery and detailed mapping, thus assisting a diverse range of buyers. Future plans include expanding services to retailers and the rental market to further capitalize on the region’s rapid growth.
Saudi Arabia, while rich, historically lacked sufficient data in the real estate sector, making it difficult for investors. Ahmed Bukhamseen, through his company Quant, sought to rectify this issue by enhancing property investment transparency. Quant’s core function revolves around comprehensive data collection, including real and projected prices, mapping, construction details, and geo-spatial analytics. In an interview at the Mobile World Congress in Barcelona, Bukhamseen shared insights about the company’s vision and the vital role of their data platform.
A significant challenge for Quant was compliance with emerging data protection regulations akin to GDPR, necessitating the use of a local data host. As a result, the company transitioned from Microsoft Azure in Europe to local solutions to ensure compliance and data protection. Furthermore, Bukhamseen highlighted how Quant identified Huawei’s cloud services only recently while comparing various providers, marking a pivotal point for their operations.
As Quant’s business evolved, so did its data requirements. Initially, the company utilized municipal data registries, but has since incorporated local data and high-resolution satellite imagery. This shift was crucial due to the extensive imagery needed to monitor both existing and in-construction properties, moving from bi-weekly updates to a daily photography cycle.
The company’s mobile application aims to democratize access to the property market, catering to first-time buyers, investment managers, and those seeking rental options without the heavy price fluctuations previously experienced. Through its integrated services, the app provides users with essential information on property prices, mapping data, satellite imagery, and government planning documents.
Looking ahead, Quant plans to improve its data offerings further, potentially integrating advanced feature and object detection capabilities. These enhancements will allow the identification of specific building plans based on satellite data. Although capable of creating models independently, Quant has opted to leverage Huawei’s expertise to accelerate model deployment, reducing the time frame from six months to merely four hours.
Quant’s future initiatives may include services tailored for retailers, advising them on optimal store locations based on neighborhood demographics, as well as expanding their data focus to rental markets. Bukhamseen emphasized the need for rapid adaptation to Saudi Arabia’s fast-paced development, highlighting that foreign investors would soon be able to purchase properties with ease, relying on accurate and timely data to inform their decisions. The Quant app is available for download, offering comprehensive insights into the real estate landscape in Saudi Arabia, as well as Huawei’s service offerings for the region.
In summary, Quant is transforming the Saudi Arabian real estate market by providing essential data and insights to investors and buyers. By leveraging local data and advanced satellite imagery and aligning with Huawei’s cloud services, the company addresses the historical data deficits in the sector. As Quant enhances its offerings, it aims to facilitate unprecedented growth and investment opportunities within Saudi Arabia, paving the way for informed decision-making for both local and foreign investors.
Original Source: www.artificialintelligence-news.com
