Juwai IQI Celebrates 1-Year Anniversary of Merger to Create Technology Enabled End-to-End Real Estate Platform
One year after Juwai Limited and IQI Global announced on 23 July 2019 that they would merge, the two companies have successfully integrated their businesses and seen growth accelerate as a result of the creation of the multi-channel, end-to-end real estate marketing and sales platform.
Juwai IQI blends the strengths of online classifieds portals with a modern technology powered agent network capable of making Asian buyers into global residents by closing transactions on behalf of developers and landlords. Its core market, Asia, represents approximately half of the global real estate transaction market with structural growth and demand for new project development sales and rentals.
JUWAI IQI FIRST-YEAR KEY ACHIEVEMENTS
Highlights of the year since the announcement include:
- The company rapidly increasing the pace of real estate sales in 2020, despite the global pandemic. Juwai IQI achieved sales of US$660m in the first-half of 2020 in spite of COVID-19, compared to the US$1b that the businesses closed in the full year of 2019. A strong pipeline suggests that growth will accelerate in the second half of 2020 and into 2021.
- Agents are attracted to Juwai IQI. The number of real estate agents working for subsidiary IQI has doubled from 5,000 at the time of the merger announcement to more than 10,000 today. The company agent network has also expanded geographically with the launch of new agent networks in Vietnam and Cambodia and a direct sales team in China.
- Existing agents maintained their productivity levels during the first half of 2020, despite COVID-19 related lockdowns in countries around the world, in large part due to their rapid embrace of technology.
- Juwai IQI has been successful in the expansion of its core customer base, real estate developers, who see the benefits of being a Juwai IQI partner and is now marketing and selling 60% more new global development projects than at the time of the merger.
- With the launch of Juwai.asia in May 2020, the company extended its online reach. The new portal reaches consumers across Asia and complements China-focused Juwai.com. As of July 2020, Asian consumers outside of China already account for 30% of total buying enquiries.
- Consumer reach and engagement has increased by 50%. The number of monthly engaged consumers increased from 4 million to 6 million.
- Audiences for Juwai IQI’s live online events have soared in size. The June live event co-hosted with Baidu reached 400,000 viewers. The company has ceased holding its long-running international property expos and replaced them with fully online events and webinars that achieve better outcomes for all parties.