While reflecting on the worth of the investment opportunity at stake, real estate is termed as the largest asset class globally – worth more than all stocks and bonds combined.
Pakistan’s construction industry sums over $50 billion, which makes up for 12-13% of the GDP, out of which the real estate sector contributes approximately one-third ($15 billion) of the total GDP.
Despite the growing economic importance that the real estate sector has attributed to the development of the national economy, it remains largely underdeveloped in Pakistan.
In recent years, Pakistan has witnessed an explosive growth of tech start-ups with varying domains including e-commerce, FinTech, EdTech and others. Because of the changing dynamics, financing, the inflow of investments, existing market gap, size and greater demand.
Unfortunately, real estate was one of the last sectors to adopt technology i.e Proptech.
Amongst the few Proptech pioneers, Graana.com was introduced to transform the real sector of Pakistan.
Within no time, Pakistan’s Smartest Property Portal as an emerging technological advancement disrupted the real estate industry by challenging and influencing various aspects of traditional real estate transactions and initiating new ways of doing business in the real estate sector, ranging from a smart app, unlimited property listing and average closing times.
What is Proptech?
Before moving forward, it is essential to know what Proptech is.
Defining the phenomena in simpler words, proptech is a technological advancement that seeks to eliminate the challenges caused by distance and location and encompasses the construction, investment, sustainability, management and occupation of real estate assets.
It affects the ways to search for property listings to buy, sell, rent and invest.
Amidst the fourth industrial revolution, the world has experienced three waves of Proptech.
Early Proptech | 1980s- 2000
Like many different technological revolutions, Proptech 1.0 was introduced with the invention of Personal Computers (PCs) back in the 1980s. The invention of PCs helped the establishment of different software companies, which produced data and tools on property market analytics and accounting.
Proptech 1.0 | 2000-2008
The world experienced this new wave with the emergence of different large companies taking up the traditional model of real estate transactions and forming e-commerce apps to deal in real estate online.
Proptech 2.0 | 2008- present
This era was marked by remarkable advancements, including access to the internet, smartphones, start-up economy, revolutionized Finance Tech (Fintech), Information technology (InfoTech), that processed data and storage and transformed the dynamics of buying, selling and renting properties.
This was further pushed by advanced user experience and participation, along with vast social media presence.
How Graana.com is using Proptech to revolutionize real estate in Pakistan?
What initially was thought to be a buzzword, Proptech substantially transformed the Real Estate market globally. In the past few months, the world witnessed the increasing influence of information technology, triggered by the outbreak of COVID-19. ‘Digital transformation’ is what kept the world connected, causing internet usability and e-commerce penetration to increase by 15-25%.
Farhan Javed | Group Director Graana.com
Based on an innovative technological front, Graana.com simplifies the experience to provide real estate solutions via its portal accessible from the mobile app, as well as the web.
The Graana portal is the No. 1 solution that helps you find properties to buy, sell and rent on the go offering:
– Unlimited verified listings
– Detailed multimedia advertising of property features including pictures, videos, drone shots
– Graana Wanted feature (Now buy, sell or rent directly via Graana gurus)
– Secure transactions
– Fastest selling real estate investment projects
– Seamless navigation
– All-you-need on a single screen
– Quality customer-care and query response
Graana.com merges the physical and digital closer, ensuring topmost user experience services,
Unlimited verified listings and property management
As one of the Proptech pioneers and being data-driven, Graana.com has disrupted the real estate market by providing unlimited verified listings.
The highly-professional teams of sales representatives at Graana collect and compile data in terms of demographic information including pricing, home-value trends, and potential value of neighborhoods and market trends on buying, selling, and renting in every specific area of Rawalpindi and Islamabad.
This gives its customers the confidence to either find the perfect property they’re looking for, or sign-up the portal to buy, sell, rent or rent out their properties.
Graana.com offers an easy sign-up option either by using your existing Facebook or Google account to avail all the services.
Along with helping you find properties on the go, Graana.com brings you the best investment opportunities.
In its quest to introduce marvels of grandeur in the commercial real estate sector, the Imarat Group of Companies is known for putting forward remarkable projects. The fastest-selling projects in the twin cities include Florence Galleria, Golf Floras, Amazon Outlet Mall, Imarat Builders Mall and Mall of Arabia.
These projects offer a guaranteed second income, buy-back guarantee, and high returns on investments.
With every passing day, the disruptive innovation of Proptech becomes more information-intensive, as it has guided people in these challenging times. As one of the pioneering adopters of Proptech, this technological advancement will be enhanced in every existing structure. COVID-19 has revealed that the people will now rely more on technology and virtual tours, which will derive the breakthrough of the third wave i.e. Proptech 3.0.
Farhan Javed | Group Director Graana.com
360° Virtual Reality Guided Tours and 360° Live Guided Tours | Projects, Property
The outbreak of COVID-19 impacted almost all the aspects and sectors of the economy while changing the discourse of even daily life.
Amidst the enforced lockdowns and cancelled social gatherings, Graana.com was the first propetch company in Pakistan to utilise the digital transformation and spark innovation by offering 360° Virtual Reality Guided Tours and 360° Live Guided Tours of any desired property or project.
Graana.com redefined the virtual experience for its customers in Pakistan through Virtual Booking Interface. Under this, customers can book and sign documents virtually, creating a more seamless experience.
Even before the outbreak of COVID-19, Pakistan’s Smartest Property Portal offered Augmented Reality (AR) services for the investment projects.
The AR and VR tour services changed the dynamics of interactions between agents and potential clients.
This customized technology ensured flexibility that has changed not only investment deals, but also the future of the commercial real estate.
Expansion to different major cities
As the influence of Graana.com grows daily in the twin cities, the company is also set to redefine the real estate experience for the potential market in major cities of Pakistan, including Lahore and Karachi.
The outbreak of COVID-19 has acted as a catalyst that forced companies to adopt technological measures to counter the repercussions. As every day passes, the impacts and economic dynamics of COVID-19 change. The impact of COVID-19 on Proptech and real estate markets have been more positive.
Being the second-largest sector of Pakistan, with 70 allied industries, the Real Estate sector has been identified to kickstart the economic activity and the potential for employment generation to revive the economy.
While others are joining in at this stage, Graana.com has been one of the pioneers, the technology revolution is disrupting the real estate industry, and proving to be reliable and aligned as the technological front unwinds because of being an early adopter.