Friday, June 25, 2021

Virtual tours open doors for contactless property deals in Saudi Arabia

Businesses are making a rapid transition towards digital solutions in the post-pandemic era when consumers are largely active in the online space. E-commerce first gained a foothold as a way to get essentials, triggering a two-fold rise in online grocery orders by Saudis and Emiratis during the pandemic.

But as restrictions on movement continued, residents of gulf nations started buying almost every product and service via digital platforms, which also led to innovations like online fitting rooms. With the idea to bring the same trend of data driven purchases into the real estate sector, a Saudi-based startup has unlocked virtual tours of properties for potential buyers.

The company Rozeye found an opportunity, when residents of the kingdom sought ways to explore residential and commercial spaces from the comfort of their home. It ventured out to record videos at properties meant to be offices or restaurants, and fused them together to create immersive visuals for clients.

Netizens who are able to access a 360 degree view of the premises with a few clicks, are also likely to go through with deals more quickly, and with a higher level of confidence.

Apart from the startup’s initiative to help real estate buyers navigate properties, virtual tours have also been used in the kingdom for taking tourists through historical sites and the national museum.

Neighbouring UAE also has similar VR solutions where netizens can glide across cultural hubs and art exhibitions in Dubai and Sharjah. Virtual tourism has even brought a Roman-era city to life in Lebanon, for offering a peek into the past for history and architecture lovers in any part of the world.

Innovations to surpass lockdown restrictions have actually allowed real estate developers in the Middle East to reach investors beyond geographical limits. Now property firms in the Emirates can raise funds from people in any part of the world by offering stakes via online platforms or digital tokens.

Image: Shutterstock

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