A leading model of digitisation in Pakistan’s real estate sector, Graana Group of Companies along with Iqbal Institute of Policy Studies (IIPS) launched the country’s first Artificial Intelligence (AI) and Innovation Lab at the National Science & Technology Park (NSTP).
The birth story of Graana involves a firm will to revolutionise the real estate sector right from the get go. The founder of Graana Group of Companies, who moved from the UK to Pakistan after a career in the real estate market, brought not only a treasure trove of experience but also an unshakeable resolve to change the property landscape using technological means.
Digitising land records
Graana believes in replacing outdated data and practices with latest statistics and accurate information all in one place, and with ease of access and verification on your fingertips. For that, the company has integrated technology in its core functions and offers a hassle-free experience for investors.
Digitising land records in their entirety is one of the goals at the forefront for Graana. The formation of a decentralised and readily available digital ledger of urban land records will be the answer to those in search of security and transparency prior to proceeding with investment and acquiring property.
Moreover, the ledger will be an invaluable tool to make urban town planning efficient and effective. To that end, IIPS has taken imminent town planners of the country on board to work jointly on collecting, verifying and compiling complete data down to the last square foot of urban land. The records are and will continue to be digitised to be added to the portal.
Technology for transparency
PropTech, an acronym for property technology, features heavily in Graana’s quest to bring transparency in the real estate industry. Aimed at disrupting the real estate market through digital transformation, PropTech also enables better decision making, makes buildings and property transactions more efficient, enhances the end-user’s experience, provides improved security, and significantly lowers building maintenance and operational costs.
Graana is also working on a unique and ground-breaking concept – the creation of Artificially Intelligent Real Estate Advisor (AIRA). The AI system will interact with prospective clients and investors directly, answering their real estate search queries and providing additional options and suggestions based on the investors’ requirements.
Furthermore, for investors wishing to visualise projects, Graana offers Augmented Reality and Virtual Reality technologies to give them a chance to envisage the outcome of developing properties on a screen.
What is Graana doing at NSTP?
Keeping in mind its determination to constantly seek ways to innovate and evolve, Graana is setting up an AI lab at NSTP, a flagship project of National University of Sciences & Technology (NUST).
Graana has a long-standing association with NUST, with the two recently collaborating on the Geographic Information Systems (GIS) Day on November 13 this year. A seminar was held to observe the day, in which the gradual increase of technology incorporation in the real estate sector to revolutionise geospatial mapping was encouraged and applauded.
At NSTP, Graana envisions a stimulating environment to forge ahead with its aim to grow and flourish as leaders of innovative technology in the real estate sector not only at the national level, but global as well.
Graana’s long-term plans
The principal objective of Graana’s presence at the country’s first university-hosted Science & Technology Park is to carry out intensive research and development, primarily in the AI and Blockchain fields while simultaneously striving to make its innovation lab a centre of artificial intelligence excellence.
The lab will not only hold regular consultations with overseas Pakistani experts in cutting-edge technology, but would also collaborate with NUST to utilise budding minds of students and in-depth knowledge of the institute’s PhD scholars.
The amalgamation of academia and industry will extend to IIPS’ line of work as well, with members of the policy institute taking advantage of the ideal location of Graana’s centre at NUST to brainstorm with some of the most experienced professionals in Pakistan.
Sharing the field with hi-tech giants
Graana will be rubbing shoulders with other hi-tech giants at the Park, such as National Logistics Cell, Swiss-Swedish multinational corporation ABB, Turkish Aerospace Industries etc. Moreover, the NSTP itself is partnering with the China International Technology Transfer Centre (CITTC) to establish the China Pakistan Technology Transfer Centre (CPTTC).
With high ideals and soaring aims, Graana awaits its anticipated take-off at the country’s pioneering Science and Technology Park, which was inaugurated by Prime Minister Imran Khan today, on December 9 2019, at NUST.
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