An Indian company, one of the world’s fastest growing proptech platforms, has launched a 3D Metaverse platform to demonstrate the future of real estate search and discovery via a high-end 3D digital twin of Dubai.
Square Yards, based in Gurgaon, announced the programme on Friday, saying it will use cutting-edge technologies such as 3D, AI, VR, and AR, as well as interactive real estate visualisation.
The platform, according to the company, is the first of its kind to include high-definition 3D maps for high-fidelity real estate visualisation.
“With this solution, users can search from over 2000+ potential real estate projects across Dubai through its interactive 3D interface, get complete details of the project, and enter into the project metaverse as an Avatar,” the company said.
“Imagine searching for properties to buy, sell and rent across Dubai in high-quality 3D at true scale, visit the project building in VR, walk around the amenities and interiors, and interact with residents and salespeople virtually,” said Tanuj Shori, the company’s Co-founder and CEO.
According to Shori, with the launch of its 3D Metaverse platform, the company is transposing real estate to a virtual realm, making it more experiential, immersive, and yet, easily accessible for the masses.
“Users can enjoy 3D virtual tours remotely and perceive accurate depictions of the property, that will create an emotional anchor to the space and encourage them to seal a deal at the end of the day,” he said.
This cutting-edge 3D visualisation platform is currently being tested among a select group of real estate developers and users.
The company intends to collaborate with Dubai developers to integrate their upcoming launches into this ecosystem, allowing customers to buy, rent, and sell properties digitally.
Maps, 3D content, transaction, listings, and project information are all included in the Metaverse product.
Each project building has a sales centre as well as a digital twin as its Metaverse, where users can enter and navigate through the amenities, project, and interiors using their chosen avatar as if they were living a digital life in the virtual world.
They can also communicate with dedicated sales representatives via voice conferencing.
“Square Yards’ Metaverse tool will help architects, governments, and real estate developers to create a fully digital selling experience, as well as pave the path towards the real estate industry’s Metaverse transformation,” said Sunder Jagannathan, the company’s Principal Partner & Co-founder PropVR.
The Metaverse market is projected to grow from $ 478.7 billion in 2020 to $ 783.3 billion in 2024, at a CAGR of 13.1 per cent.