Magicbricks Acquires PropViz to Revolutionize Real Estate Engagement

Magicbricks has acquired a majority stake in PropViz, aiming to offer advanced technology solutions to real estate developers. This strategic move focuses on enhancing buyer engagement using 3D visualization, virtual walkthroughs, and interactive tools. The acquisition aligns with Magicbricks’ mission to redefine real estate interactions and boost sales velocity.

Magicbricks, a leading real estate portal, has taken a significant step by acquiring a majority stake in PropViz, a company renowned for its innovative technology solutions aimed at developers.

The acquisition was announced on Thursday, highlighting Magicbricks' commitment to advancing real estate interactions and setting new standards in customer engagement. The collaboration introduces a groundbreaking suite of 3D visualization and immersive technology solutions, including virtual walkthroughs and real-time inventory management.

Sudhir Pai, CEO of Magicbricks, expressed excitement about the enhanced offerings, stating that the acquisition allows Magicbricks to provide a full suite of services for homebuyers and developers. He emphasized the expansion of tools for developers from project pre-launch to sustenance selling.

(With inputs from agencies.)