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Cavendish Maxwell, a real estate advisory and property valuation firm in the UAE, announced its intention to acquire a majority stake in real estate technology and market intelligence platform Property Monitor, according to a press release.
The company release said the transaction is aimed at achieving 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. It also said the acquisition will benefit customers of both companies.
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.”
The acquisition means a restructuring of the management team, which will see Henri Bacha maintaining his current role as the CEO of Property Monitor, as well as taking on the mantle of 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.
Taylor highlighted that, “This (the acquisition) 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.”
Cavendish Maxwell real estate advisory property valuation firm in the UAE real estate technology market intelligence platform Property Monitor real estate innovation hub hybrid valuation solutions data-powered measurement
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