INDIA – Matterport, the market leader for spatial data capture, has announced a collaboration with India-based leading technology and data company Propstack to provide a range of services including 3D virtual tours for commercial & residential properties. Matterport is rapidly expanding in the Asia Pacific region, across various industries including residential and commercial real estate, property management, architecture, engineering, construction and insurance.
Propstack will be offering the real estate industry in India the opportunity to capture commercial & residential properties in 3D with Matterport, so that clients can evaluate them virtually. Matterport technology produces dimensionally accurate, high resolution “digital twins” of properties. The 3D models can then be used to give prospective buyers access to comprehensive, virtual, round-the-clock tours. These digital twins, available via the internet, are particularly useful if a client is limited in their mobility, if time is of the essence, or if physically travelling to the property in question is simply not a feasible option.
Bruce Wells, Managing Director APAC at Matterport, said: “We are very excited to be engaging with Propstack at this important time for the real estate market in India. Over the past few decades, India has had record levels of growth especially in terms of economic development and infrastructure investment. Given this rate of growth, there is a strong appetite to leverage innovative and proven PropTech solutions that have multiplying effects in the marketplace. The collaboration with Propstack will accelerate access to Matterport digital twins for enterprise customers and the wider real estate ecosystem.”
‘Matterport 3D digital twins help users to better promote properties, where clients can virtually assess floor plans to see how they flow, or measure rooms and entry points for facilities planning. The current situation globally has shown the importance and impact of 3D capture technology. We have a unique opportunity to integrate spatial data with real time transactions data globally for the first time. It enables efficient decisions by transferring the decision-making power directly into the hands of the customer with some powerful tools’ said Raja Seetharaman, Co-Founder of Propstack.
India witnessed a record year for real estate investments in 2019. The total fund inflow was approx. $7 billion, which was a 30% increase over the previous year and lead by global investors like Blackstone, Brookfield & GIC.
Matterport is the leading spatial data company digitising and indexing the built world. Its unique 3D capture technology creates the spatial data layer on which the industry can interoperate, and the company’s all-in-one 3D data platform makes it fast and easy to turn any physical space into an accurate and immersive digital twin. The Matterport platform helps customers realise the full potential of a space at every stage of its lifecycle including planning, construction, appraisal, marketing, and operations. Learn more at matterport.com.
Propstack is India's leading Real Estate data, analytics and workflow solutions platform and was developed in response to a need for greater market transparency. Our data is the most important part of our business and we conduct expansive, ongoing research to produce and maintain the largest and most comprehensive database of Real Estate information. We are also the largest private repository of registered sale, lease and mortgage information in Asia Pacific. Propstack provides predictive and prescriptive analytics based on our deep data which forms the core of our clients efficient and smart decision making.