MOGUL.sg, a property technology (PropTech) start-up, announced on Thursday (8 Oct) the launch of Singapore’s first-ever 3D Virtual Property Expo, featuring Singapore Land Authority (SLA)’s OneMap3D.
The Expo, which will be hosted on the MOGUL.sg platform from 15 to 17 October 2020, is aimed at assisting home buyers with their property search and decision-making process.
Featuring more than 21 newly launched condominium and commercial projects by developers such as GuocoLand, Far East Organisation, CapitaLand, and Four Seasons, the Expo will allow potential buyers to experience the properties and their surrounding environments via three-dimensional walk-throughs – even before they have been built.
This means that online visitors can tour the neighbourhood and discover nearby amenities. MOGUL.sg and its partners believe that this will help prospective buyers determine if the property and the neighbourhood suit their lifestyles and priorities
The unique 3D mapping feature also allows home buyers to look outward from within each property to appreciate the virtual view and outward facing line of sight – from any floor in the building. These features also apply for businesses looking to lease or rent commercial or office spaces.
“GuocoLand has a proven track record for developing luxury residential developments that are known for their quality, innovation, lush landscaping and liveability. We look forward to giving visitors of the 3D Virtual Property Expo a closer look and a deeper understanding of our projects, as well as what they offer in terms of flexibility and connectivity that will uplift home owners’ quality of life,” said Dora Chng, General Manager (Residential), GuocoLand.
In Singapore, the average home buyer spends at least six months viewing property listings before making a purchasing decision. For each new build listing, home buyers typically spend time painstakingly visiting a showroom, before visiting the property’s location to assess the neighbourhood.
With this time-consuming process already engrained in consumers’ search behaviour prior to COVID-19, the 3D Virtual Property Expo aims to transform the traditional concept of showrooms and eliminate common house-hunting inconveniences.
“Home buyers care a great deal about the neighbourhood and nearby amenities, often asking about nearby supermarkets and schools, while carefully assessing transportation links. Environmental considerations are also important, with buyers commonly thinking about which direction the property faces and the proximity to roads, highways and other sources of noise,” said Gerald Sim, Co-founder and Chief Executive Officer, MOGUL.sg.
“The 3D Virtual Property Expo will allow buyers to see and assess these factors first-hand via detailed 3D maps, without having to travel to multiple spots across Singapore. This will make the process of buying or renting a property smoother, much more convenient, and should remove some friction in the transaction that we have all become accustomed to,” he added.
The first-of-its-kind 3D viewing capabilities for local properties was enabled using MOGUL.sg’s geospatial technology expertise and proprietary machine learning algorithms, combined with the application programming interfaces (APIs) and geospatial data from OneMap3D Beta – an open-source 3D platform announced by SLA on 17 September 2020.
“As an early user of OneMap3D Beta, we see the platform’s potential for delivering immersive 3D experiences, not just for viewing new homes but entire neighbourhoods as well,” Mr Sim remarked.
“We would like to thank SLA for giving us the opportunity to showcase OneMap3D Beta at our event,” he added.
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