NOVA Realty platform will open up new opportunities for global investment in the real estate market

february 12, 2020

The co-founder of the IT company NOVA Denis Radzimovskii about digitalization of states, global investment, the EXPO 2020 exhibition and the platform for the world real estate market – NOVA Realty.

– Denis, with what results has NOVA entered 2020?

– The past year was rich in events in terms of development of the company NOVA. We managed to achieve most of the set goals and fulfil the planned tasks.

One of the main events was the opening of the corporate headquarters in Tallinn. We officially registered the company in Estonia, opened bank accounts, transferred ownership of intangible assets to the company, filed an application for a patent. In addition, we registered our trademark in the territory of the EU. All this allowed us to integrate with the Scandinavian business community in a relatively short time. Today we can be safely considered a European company.

Also, during 2019, our company took an active part in major international events. Among them, it is worth highlighting the MIPIM exhibition in Cannes, the MIPIM PropTech in Paris, the St. Petersburg International Economic Forum. A large number of meetings and negotiations with future users, financial institutions, IT companies took place throughout the year.

In the 4th quarter of last year, we finished assembling a prototype of our main product – a service for the international real estate market NOVA Realty.

– At the end of the year, the company NOVA introduced the prototype of the NOVA Realty platform to the international community. How did experts, market players, investors react to the product?

– Indeed, the prototype of the NOVA Realty platform was shown at special presentations and individual business meetings. Most of the experts present – future users of the platform: representatives of government agencies, investors, asset holders, REAM representatives, non-profit organizations, highly appreciated the future potential of the service and saw a solution to their current tasks in it.

In addition, I am glad that the experts noted a substantial difference between our service and portals existing today in terms of functionality, as NOVA Realty provides users with not only a unified information field, but also the opportunity to interact and conclude transactions in a “one-stop shop”.

– In one of the articles about the NOVA Realty platform, your product was defined as “Internet for real estate», wasn’t it?

– In my opinion, this is a rather apt comparison, if we consider the NOVA Realty service in terms of its variability and combinatorics.

On the other hand, some of the experts compare the NOVA Realty service with the SWIFT system, which once allowed making a breakthrough for the financial market in terms of performing international financial transactions and payments. Potentially, that is the NOVA Realty platform which is capable of giving rise to the evolution of the world real estate market, changing all the basic processes in it.

– Your NOVA Realty product belongs to a relatively new segment of Property Technology, doesn’t it?

– Yes, it does, according to external market analysts, our NOVA Realty service is one of the leaders in the PropTech segment, as it will become infrastructure in this direction and form an entire ecosystem.

If we talk about PropTech, then this is a relatively new direction, which appeared about 8 years ago and combined the whole range of innovative solutions and services that will change the world real estate market and give it an impetus for further development. The PropTech market is actively developing. Thus, in the year 2019, it grew by more than 50%, and the total volume of fund-raising transactions amounted to about $7 billion.

In general, the main task of the PropTech direction is digitalization and automation of the real estate market following the example of the financial market and services for it in the FinTech segment.

– At what stage of implementation is the NOVA Realty platform today?

– As I said before, for today, the project has been brought to the prototype stage. We are planning to develop the NOVA Realty service MVP before the end of the year. NOVA Realty MVP will consolidate all the basic functionality, a part of which will be performed in an automated mode, so potential users and everyone interested in the platform will be able to evaluate its work already on the example of several countries and real estate items.

– Where is it planned to present the NOVA Realty platform this year?

– The main presentation of the platform MVP is planned within the EXPO 2020 exhibition, which will be held during six months in Dubai. This is an event unprecedented in scale and authoritative in its specifics, which, I am sure, will become a catalyst and a springboard for our company and project. Given that 190 countries will take part in EXPO 2020, we will be able to present the NOVA Realty service to our entire target audience. This will speed up the subsequent integration of our service, planned for 2021, with external databases, states and main players of the world real estate market and, as a result, fully launch the service in 2022.

In addition, during 2020, the NOVA Realty platform will be presented at other international events of the real estate market and PropTech, as well as at separate presentations and meetings with future users.

– NOVA Realty is a global service; with which countries will integration take place first?

– The NOVA Realty platform will be launched in those countries, which will be able to open data and digitize registries in the near future, that is, will be technically, legally and politically ready to implement such services. World analysts predict that by the time our service is launched in 2022, about 50 countries will have done it. At the same time, it’s enough for us to start working in only a few countries, on the example of which we can demonstrate the advantages and benefits of using the NOVA Realty service.

In general, countries, which are interested in attracting international investments, are already digitalizing and opening their registers, as well as automating their legal and financial space.

– What are the plans of the NOVA company till the end of the year?

– The NOVA company will continue its planned development. During this year, we will expand our staff and reinforce our team with additional specialists in various fields to speed up the process of the platform development and integration into the world real estate market. In addition, our plans include increasing media activism in order to form recognition of the NOVA Realty platform and its functionality.

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