Technology helps boost Juwai IQI’s 2022 record sales volume

• 38% growth in completed transactions and US$3.1 billion (RM13.74 billion) in sales
• Increased global agent network by more than 9,000, with the headcount now reaching more than 30,000

KUALA LUMPUR (Feb 18): Global real estate company Juwai IQI released its 2022 calendar year results on Feb 16, revealing a 38% growth in completed transactions and US$3.1 billion (RM13.74 billion) in sales.

According to a report by RETalk Asia, Juwai IQI also increased its global agent network by more than 9,000, with the headcount now reaching more than 30,000. The company also opened 11 new offices, which means it currently has a presence in 20 countries.

"In 2022, Juwai IQI completed 42,912 transactions, which is up 38% from the 2021 total of 31,000. By comparison, Juwai IQI completed 22,000 transactions in 2020,” Juwai IQI co-founder and group CEO Kashif Ansari said in the report by RETalk Asia.

Agents to be equipped with technology, training and opportunities

“We see many opportunities to exploit in 2023. During the past three years, we demonstrated that Juwai IQI could continue to grow and provide agents with opportunities in the most difficult economic conditions.

“We want 2023 to be a year of growth and opportunity for all the agents in our network. We will give them the technology, training, and opportunities they need to succeed,” added Kashif.

Meanwhile, Juwai IQI group co-founder and managing director, Daniel Ho, revealed that technology played no small part in the real estate company’s performance in 2022.

“People are waiting to buy, some want to buy but they are fearful; what they need in order to move forward to make a purchase is the transparency in data and we have the platform to help them make good judgments – Juwai IQI’s ATLAS analytic and mobile app has enabled them to do that,” Ho told EdgeProp.my.

He explained that global inflation has impacted the confidence of property buyers, resulting in many sitting on the sidelines for 2022.

“However, Juwai IQI was still able provide them with transparency, providing them with information to make very concise decisions in going ahead with property purchases. This is reflected in our total transactions that grew to the tune of 38% for 2022.”

Advantageous collaborations

Ho said three main areas have played a significant part in Juwai IQI’s increase in completed transactions, business and revenue.

First is technology, which is helmed by ATLAS. Second is collaboration, where ATLAS is working with several parties, including EdgeProp.

Read also:
Agents empowered with new brand-building tools in IQI-EdgeProp Malaysia partnership

“We have an application programming interface with EdgeProp.my’s listing site. These are amazing mechanics that help our agents become more productive, and we look forward to growing this collaboration,” said Ho.

The third is Juwai IQI’s international presence. “We do not operate our business in franchise fashion – all our international offices are owned by Juwai IQI. Because of that, we are able to access key information concerning properties in a very specific way in the countries we operate in,” Ho revealed.

“It is a globalised world. One buyer could be from Malaysia, but if he is a wealthy and seasoned buyer, he would not be investing in just Malaysian properties. He is of course happy to be connected with so many countries just with Juwai IQI alone. The strength of our international presence allows us to bring such buyers to different places,” added Ho. 

Malaysia’s 2023 outlook positive despite global challenges

On the situation in Malaysia, Kashif said the residential market has started to firm up.

“The global environment is one of high inflation, rising interest rates, and lingering supply chain challenges. Malaysia is weathering the difficult global situation in relatively good shape, thanks to high commodity prices, exports, and strong employment,” he said.

"Developers tell us they are confident about the 2023 to 2025 period. In the third quarter, developer residential starts and planned new supply both hit their highest levels in at least five quarters. Residential starts soared by 71% from about 18,000 in 2Q to 31,000 in 3Q. Meanwhile, developers' pipelines in terms of new planned supply also jumped 35% to a new high.

"Chinese buyers will be back in greater numbers in the second quarter. There are still far fewer flights between China and Malaysia than in 2019 and they cost at least 30% more than they did pre-pandemic,” Kashif said in the report.