Cavendish Maxwell, a real estate advisory and property valuation firm in the UAE, intends to acquire a majority stake in real estate technology and market intelligence platform Property Monitor, according to a press release.

The transaction aligns with Cavendish Maxwell’s strategy to develop a real estate innovation hub that bridges the gap between traditional expertise and artificial intelligence (AI)-enabled disruptive solutions.

Meanwhile, the customers of both companies will benefit from the acquisition.

Besides maintaining his current role as the CEO of Property Monitor, Henri Bacha will be the Group Chief Commercial Officer (CCO) of Cavendish Maxwell.

Meanwhile, Zhann Jochinke, the COO of Property Monitor, will assume his new position as the Director of Market Intelligence and Research of the group.

Chris Taylor, Group CEO of Cavendish Maxwell, said: “This acquisition will allow both companies to accelerate and amplify these benefits internally, but more importantly for both Cavendish Maxwell and Property Monitor’s clients.”

Taylor added: “This is also the first step by Cavendish Maxwell in creating a real estate innovation hub for the UAE real estate sector, which will aim at creating hybrid valuation solutions and accelerating the development of data-powered measurement and decision-making tools for its clients.”

“The growth of proptech solutions in the market will only accelerate and Cavendish Maxwell intends to be at the heart of it,” he noted.

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