AI to develop real estate sector in Cambodia

• 11 March 2020
• Local News
• 4516 Views

Artificial intelligence, commonly known as AI, will soon take over and promote the real estate sector in Cambodia.

The future of AI in the Cambodian real estate industry is about to be realized following the signing of a Memorandum of Understanding between Z1 Data Co., LTD (Cambodia), a company that uses artificial intelligence (AI) to research and analyze data in real estate and the US-based company, The DevMasters.

The MOU was signed by Mr Him Seyha, director of Z1 Data Co., LTD (Cambodia) with Mr Arshad Khan, CEO of The DevMasters, on 11 March 2020. The collaboration between the two major technology companies aimed at developing an extensive database for commercial real estate in Cambodia.

“Artificial Intelligence (AI) accelerates real estate operations by reducing the time spent with manual labour, and it also enhances the efficiency of the real estate transaction and market process,” said Him Seyha.”

Artificial Intelligence (AI) can be used with many applications in the real estate sector to optimize and reduce time, such as finding current prices, forecasting upcoming real estate prices, automation of documents, and other functions.

“Also, developing a database using quality Artificial Intelligence will benefit operators in the real estate market, property owners, agents, and the government,” added Seyha.

Notably, the real estate sector in Cambodia is booming, with many real estate companies setting up a variety of housing and commercial projects. Hence, the development of a large and quality database must be installed to manage the sector. The application of AI in real estate would modernize the Cambodian market through strengthening investor confidence, easing analysis of the existing development trends easily, and forecasting future trends.

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