Product updates #2

may 7, 2020

During April, our team focused on improving the NOVA Realty expert system

  • An audit of the information management system linked to the geo-location was carried out.

  • The classification system for real estate objects has been supplemented, in particular, the use of mixed functions of the use has been added.

  • Approach to the analysis of public spaces has been updated.

  • Basic object analysis algorithm has been updated using the Highest and best Use (HBU) method

  • The requirements and types of the following groups of real estate data have been clarified:

–  general information;

–  data on local agglomeration;

–  data on land and facilities (if there are any).

  • Updated requirements for modeling tools for the use of real estate, such as:

– great work for all functions of use (site preparation, space-planning solution, improvement, etc.);

– business characteristics for all functions of use (methods of generating income, competition, operation, etc.);

– external influencing factors (geopolitical and macroeconomic factors affecting the country and location, and others).

  • Optimized approach to the calculation of financial models for all functions of the use of the property:

– added additional revenue and expense items;

– added new methods for modeling the sensitivity of parameters;

– general view is given to IFRS.

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