Magicbricks has acquired a majority stake in PropViz, a company specializing in 3D visualization and immersive technology solutions. This acquisition aligns with Magicbricks’ mission to redefine real estate interactions and enhance customer engagement through advanced technological solutions.
PropViz, founded in 2019, has developed a suite of innovative tools designed to support real estate developers, including virtual walkthroughs, interactive tours, smart location maps, integrated booking systems, and real-time inventory management. These solutions are designed to streamline decision-making and accelerate sales for developers. Magicbricks CEO, Sudhir Pai, emphasized that the acquisition allows the company to offer a comprehensive set of solutions, covering the entire real estate project lifecycle—from pre-launch to sustenance selling. “With PropViz, we are expanding our range of solutions for developers, creating a full-stack positioning that enhances both developer and homebuyer experiences,” said Pai.
The acquisition also complements Magicbricks’ existing offerings, such as verified leads and site visits, which have already disrupted traditional real estate sales methods. PropViz’s 125 million sq. ft. of virtual spaces and 1,800+ interactive layouts developed for over 100 developers further solidify Magicbricks’ commitment to integrating cutting-edge technology in real estate. This strategic move not only boosts Magicbricks’ technological capabilities but also promises to elevate the entire real estate sales process, improving engagement, reducing decision time, and driving higher sales velocity for developers.
