Global service for the global real estate market NOVA Realty is a distributed platform built on the basis of cloud technologies, artificial intelligence and blockchain technologies.
Global service for the global real estate market NOVA Realty is a distributed platform built on the basis of cloud technologies, artificial intelligence and blockchain technologies. The main objective of the platform is to provide infrastructure and tools for the operation of algorithmic models, which allow to increase the efficiency of the analysis of real estate objects, as well as improve the security and speed of relationships between professional participants.
World real estate market
The total investment in the real estate market, expressed in monetary terms, is calculated as the sum of all transactions occurring in the market. According to international companies Cushman & Wakefield global investment in real estate was $ 1.8 trillion, and the annual increase in accounted transactions volumes in the global real estate market with the horizon until 2030 in absolute values will vary in the range of 1-1.2%.
Target values of the platform
The Government is the largest actor in the real estate market. On the one hand, it is the owner of a large amount of real estate objects assigned to it. On the other hand, the government acts as a regulatory body, which participates in deals and ensures their execution through the system of regulatory acts.
Investor is a person or organization (government, fund, company, etc.), making capital investments aimed at making a profit.
REAM (Real Estate Asset Manager) is a company managing professional executors (designers, brokers, consultants, construction companies, management companies, etc.). Its main objectives are to give additional value to the client’s asset and to ensure the growth of the owner’s income from the given object.
Assetholder is an individual or a legal entity with the rights to own, use and dispose real estate as well as objective property rights to a real estate.
1. The lack of a single, reliable and relevant information field. This does not allow making quality management decisions, which leads to the irrational use of territories and resources, as well as the uneven distribution of investment flows.
2. The lack of conditions and opportunities for safe and effective interaction between the participants. Market participants regularly face the imperfections of current legal and economic mechanisms that should ensure effective and reliable interaction between them.
The NOVA Realty platform is developed as a tool for normalizing processes in the real estate market and is initially designed for a predetermined list of tasks. This approach allows you to create an integrated tool and maximize the effectiveness of the use of the platform in the global real estate market.
The user level of the NOVA Realty platform is represented by applications running on its base. In the early version of the system there are 2 applications.
NOVA Research is an application that provides the collection, aggregation, systematization of data, the nature of which is the global real estate market, and their predictive analysis using Artificial Intelligence. The task and the final result of the application are predicted investment and other characteristics of a given object or a certain territory.
NOVA Terminal is an application that allows all participants to interact with each other and manage all processes associated with an investment transaction. Application functionality includes KYC verification of users, a framework for creating smart contracts based on the compiled transaction logic, a Construction Project Management (CPM) system for managing all phases of a project.
The interaction of participants and external elements with the NOVA Realty platform is designed into an ecosystem, each part of which is closely interconnected with the others. The ecosystem is necessary for the full course of all processes that accompany the transaction, as well as the circulation of financial flows.
Technological features and stack
Functional features of the NOVA Realty platform:
1. Access to algorithmic models. Users of the platform will be able to use the developed author's algorithms for effective analysis of projects in the global real estate market. An important feature of this component is that all models have been tested and calibrated in working conditions in local real estate markets in different regions of the world.
2. Tools for data collection. Platform users get access to a large number of automatically updated data sources needed to build algorithmic models and decision making in the global real estate market. A feature is access not only to authorized databases, but also to data obtained from unstructured sources, validated according to their degree of reliability and relevance.
3. Distributed data register. Work with important data is organized based on the permissioned blockchain model. The features of this model are a transparent management structure, high flexibility and adaptability, the ability to update quickly the functionality. In addition, permissioned models allow you to provide the highest degree of security, adjust access levels and distribute rights.
4. Virtual machine. The software environment running on the platform allows users to create scripts that provide the logic of transactions between real estate market participants. An important feature of scripts is the irreversible fulfillment of specified conditions in it.
5. Development tools. Third-party developers will have at their disposal a framework containing all the functional blocks available on the platform for creating custom applications.
Detailed information is available in the “NOVA Realty. Technical review.
The technologies used:
The successive stages of development of the platform “Analytical Models Development ”, “Automation Methods Development” and “Information Products Development” demonstrate the consistency and independence of the idea and concept of the project to create a global service for the global real estate market.
Today the process of developing the platform has reached that stage - testing algorithmic models in the real estate market, at which the limit value point for the risk of ineffective project implementation has been passed.
Further work on the development of a complex of software products and their support and development will take place against the background of reducing the risk values of the project's development, which will contribute to the sustainable process of its implementation.
According to the model of providing a software product as a service - SaaS, NOVA will charge users as the platform is used. The cost of working with the service will be directly proportional to the amount of funds that users will contribute to the NOVA Realty platform for transactions.
Remuneration for depositing funds to the platform at the time of startup in 2022 was taken into account at the level of 1% of the funds. The growth in the share of transactions and, as a result, the amount of funds contributed was pledged at the level of 1.1% per year with a 10% share achieved by 2030 cumulatively. This type of income minus all costs forms the net cash flow of the NOVA Realty platform project.
The table below shows the dynamics of the share of NOVA Realty in the global real estate market, as well as the growth rate of transactions on the platform.
It is worth noting that the project platform NOVA was highly appreciated by international experts of the IT-market and real estate market. At the moment, according to preliminary calculations, the cost of the future service is more than $ 1 billion. Detailed project evaluation information is available in the “NOVA Realty. Price analysis”.
The diagram below shows the net cash flow of the service.
«Today, in the era of the fourth technological revolution, all segments of the economy are transforming and moving to a new “digital” format. The global real estate market is no exception, as the influence of Property Technology (PropTech) is growing as a result of the demand for innovation. New technologically innovative products that are created for the real estate market, allow you to automate the processes of building and managing real estate, minimize the costs associated with servicing real estate, simplify investment processes, etc. Without such products that offer improved performance through automation, the real estate market simply not able to function and in the new constantly changing market conditions». Ban Ki-moon, the 8th Secretary-General of the United Nations