First-of-its-kind virtual event from 15 to 17 October 2020 allows home buyers to enjoy 3D walk-throughs of newly launched condominium projects and their surrounding environments
SINGAPORE - Media OutReach - 8 October 2020 - MOGUL.sg, a propertytechnology (PropTech) start-up, has today announced the launch of Singapore'sfirst-ever 3D Virtual Property Expo. Featuring Singapore Land Authority (SLA)'sOneMap3D and takingplace from 15 to 17 October 2020, the Expo will be hosted on the MOGUL.sgplatform and is aimed at assisting home buyers with their property search anddecision-making process.
Featuringmore than 21 newly launched condominium and commercial projects by developers suchas GuocoLand, Far East Organisation, CapitaLand and Four Seasons, the Expo willallow potential buyers to experience the properties and their surroundingenvironments via three-dimensional walk-throughs -- even before they have beenbuilt. This means that online visitors can tour the neighbourhood and discovernearby amenities. MOGUL.sg and its partners believe that this will help prospectivebuyers determine if the property and the neighbourhood suit their lifestylesand priorities.
The unique 3Dmapping feature also allows home buyers to look outward from within eachproperty to appreciate the virtual view and outward facing line of sight -- fromany floor in the building. These features also apply for businesses looking tolease or rent commercial or office spaces.
"GuocoLandhas a proven track record for developing luxury residential developments thatare known for their quality, innovation, lush landscaping and liveability. Welook forward to giving visitors of the 3D Virtual Property Expo a closer lookand a deeper understanding of our projects, as well as what they offer in termsof flexibility and connectivity that will uplift home owners' quality of life,"said Dora Chng, General Manager (Residential), GuocoLand.
InSingapore, the average home buyer spends at least six months viewing propertylistings before making a purchasing decision. For each new build listing, homebuyers typically spend time painstakingly visiting a showroom, before visitingthe property's location to assess the neighbourhood. With this time-consumingprocess already engrained in consumers' search behaviour prior to COVID-19, the3D Virtual Property Expo aims to transform the traditional concept of showroomsand eliminate common house-hunting inconveniences.
"Home buyerscare a great deal about the neighbourhood and nearby amenities, often askingabout nearby supermarkets and schools, while carefully assessing transportationlinks. Environmental considerations are also important, with buyers commonlythinking about which direction the property faces and the proximity to roads,highways and other sources of noise," said Gerald Sim, Co-founder and ChiefExecutive Officer, MOGUL.sg. The 3D Virtual Property Expo will allow buyers tosee and assess these factors first-hand via detailed 3D maps, without having totravel to multiple spots across Singapore. This will make the process of buyingor renting a property smoother, much more convenient, and should remove somefriction in the transaction that we have all become accustomed to."
Thefirst-of-its-kind 3D viewing capabilities for local properties was enabledusing MOGUL.sg's geospatial technology expertise and proprietary machinelearning algorithms, combined with the application programming interfaces(APIs) and geospatial data from OneMap3D Beta -- an open-source 3D platformannounced by SLA on 17 September 2020.
"As an earlyuser of OneMap3D Beta, we see the platform's potential for delivering immersive3D experiences, not just for viewing new homes but entire neighbourhoods aswell," Sim continued. "We would like to thank SLA for giving us the opportunityto showcase OneMap3D Beta at our event."
Meeting homebuyers' end-to-end property discovery, financing and renovation needs
The 3DVirtual Property Expo will also offer end-to-end services for home buyers. All projectlaunches showcased at the Expo will incorporate first-hand information on theproject facilities and prices from their respective developers. Visitors withqueries on any project can jump into live chats with the developers' direct representativesand consultants.
For thoselooking to make purchases via the Expo, Maybank Singapore will provide homeloan affordability assessment. This ensures that home buyers get the bestprice from developers for their property of choice and extends the convenience theyenjoy from home discovery to mortgage financing.
"At a timewhen more home buyers are turning to online service platforms for their needs,Maybank Singapore is committed to being at the heart of the community toprovide convenient access to financing, while ensuring fair terms and pricing.This Expo aims to deliver a viewing experience that many will find asinformative as visiting the physical spaces. To support those who wish to makea purchase, we will be available online to provide consultation onaffordability assessment and advisory on home loan application processes," saidAlan Yet, Head of Consumer Finance, Maybank Singapore.
In addition,Expo visitors can access virtual fireside chats, hosted by Singapore radiopersonality and media industry veteran Michelle Martin, on propertyfinancing information shared by Maybank Singapore, the developers themselves,and mortgage brokering platform Mortgage Master, along withrelevant advice, insights and offers from other lifestyle service providers.
MOGUL.sg's overarchingmission to digitally enable the real estate sector
The upcoming3D virtual event represents another milestone for MOGUL.sg, as it acceleratesits mission of digitally enabling home buyers, home renters, property sellersand property agents in Singapore to search, buy and sell in a smart andhassle-free manner. Following recent partnerships with leading propertyagencies OrangeTee & Tie (OTT) and Century 21 Singapore Holdings, MOGUL.sg has also been acceptedinto Enterprise Singapore's Enterprise Development Grant programme to catalyse thedevelopment of its proprietary technologies.
The firstmajor property portal in Singapore that harnesses artificial intelligence,locational data and geospatial technology to streamline the home buying process,MOGUL.sg has seen tenfold user growth in the past three months. Thiscontributed to a record-breaking SG$25 million worth of properties being transactedthrough its platform within two weeks after Singapore's COVID-19 'circuitbreaker' period.
To registerfor the 3D Virtual Property Expo, please visit: https://www.mogul.sg/expo/registration
Launched in2018, MOGUL.sg is a cutting-edge real estate platform that harnesses proprietarygeospatial technology and government agencies' geospatial data to redefine themeaning of 'where'. The company aims to digitally enable home buyers, homerenters, property sellers and property agents in Singapore to search,buy and sell in a smart and hassle-free manner. MOGUL.sg features more than 30,000property listings in Singapore, with individuals able to use redefined searchparameters to easily find their dream home. It also offers additional internationalinvestment opportunities for real estate projects in the US, the UK, and theAsia-Pacific region. For more information, please visit: www.mogul.sg