Zameen.com synergises data, technology and expertise to reboot Pakistan's property sector

Published: January 31, 2020
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If you look at ‘Zameen Real Estate Index for Plot Prices in Pakistan’ you will notice that the country has been experiencing a relatively slow growth for the past three years. Between January 2014 and September 2016, the index grew from 190 points to 247 points. However, the index has only managed to grow by seven points over the last three years, to its current position at 254 points.

Both, Karachi and Lahore’s plot price indices underwent a similar trend. Meanwhile, Islamabad posted some exceptional and astonishing numbers due to the development of myriad popular private housing schemes in the city, which continued to attract foreign, as well as local investments.

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In an attempt to boost the real estate sector,  Zameen.com recently introduced its latest product ‘Property Bank’. The primary goal of this game-changing and revolutionary product is to provide representation to any property that is not being represented by an agency, and remains unaddressed for this reason. In order to bridge the gap between buyers and sellers, the company has already identified 25,000 such properties within its property listings, and now aims to build a connection between the two parties.

With this smart move, the company aims to bring renewed focus to these aforementioned properties. This initiative will not only help the sellers who had originally listed those properties, but will also help attract new investment into the market. This new product is an addition to this incredible pool of information. It is an indication that the company plans on streamlining its data even further for the benefit of its users and anyone else interested in Pakistan’s real estate industry.

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One thing that has always set Zameen.com apart from the rest of the real estate industry is the vast amounts of data that the website has made available to its users. Their recent collaboration with LUMS professors has enabled them to collate indices based on a complicated algorithm that presumably presented a very accurate picture of the state of Pakistan’s real estate market.

Hoping to set a benchmark of transparent practices in the real estate sector, the firm has stressed on the importance of transparency. They are not only willing to provide relevant data regarding each property to the stakeholders, but also are willing to share the inventory of these unutilised listings with other real estate agencies.

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Zameen.com’s pivotal achievement so far has been that they have managed to make real estate accessible to all. In the past, Pakistan’s real estate was notorious for a kind of esotericism that shunned attempts at comprehension by all except a few. It was only after detailed information about the property market became available on the portal that the market situation changed and other people began to understand the inner workings of the real estate industry.

Backed by a solid research and first-hand experience of 14 years, Property Bank is an initiative that represents another pinnacle of achievement for Zameen.com, and its innovation and technology driven approach to the real estate sector.

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