Want to know what the house you buy will look like?
15:00 | 26/09/2021 Companies
(VEN) - The real estate market is adopting digital tools, such as virtual reality (VR), augmented reality (AR) and 360-degree video to conduct transactions. In addition, the application of technologies such as blockchain and big data will help reshape the real estate sector.
|The signing ceremony of a strategic cooperation contract between XIXO and Hon Dau Resort|
The application of advanced technologies in trade and production activities has become a global trend, helping businesses grow stronger. Livestream sales have been mainly used for fashion, cosmetics and food. Now it has also penetrated the real estate sector. Due to the impact of the Covid-19 pandemic, real estate businesses have invested heavily in technologies to develop online consulting channels and conduct online transactions. AR and VR applications help customers feel the space in a room and get a feel for the interior design without visiting properties.
Truong Thanh, CEO and founder of XIXO, said that when somebody wants to build a house, they have to make dozens of phone calls to carry out surveys and receive consultancy on materials, design and construction. The whole project is handed over to the construction party, while the investor waits for the completion of the project on time with guaranteed quality, and cannot stop worrying.
Technology is the only way to ease the concerns of all parties, including the investor, the contractor, the construction unit, the material supplier, the bank and the maintenance unit, Thanh said. As a pioneering startup in technology application to resolve market problems, XIXO’s philosophy is to guide real estate projects from start to finish, from an empty lot to a completed house.
Construction in digital era
Building a house requires complicated paperwork and procedures, from the application of a construction permit to the design, selection of construction unit and materials, and supervision of the construction process. XIXO digitizes the entire process by providing a shared platform connecting all parties.
Thanh said that with personal preferences, home buyers only need a few hours on the XIXO platform to choose the design, materials and construction unit. Customers go to the website, list their requirements and estimated budget, while XIXO takes care of the rest. If they need to buy insurance or get a loan from the bank, XIXO will provide them with consultancy, Thanh said.
XIXO believes that it is possible to develop a vibrant real estate market with the participation of all parties, from material suppliers, architects, supervisors, banks and insurers to legal consultants.
XIXO has developed a center responsible for the construction and quality of each house. Blockchain technology will create smart contracts to guarantee the interests of all parties. If the project runs behind schedule or the quality is not guaranteed, the contractor is fined according to regulations.
The startup has also developed a data center to grade the best service providers. Once a house is put into use, the artificial intelligence system analyzes the maintenance time of equipment in the house and issues warnings of repairs as necessary.
The application of technologies in the real estate sector will encourage investment, Thanh predicted.
|XIXO aims to have 100,000 product booths and 30,000 service booths by 2021 and to reach a transaction value of US$3.8 billion by 2025.|