There is definite evidence of improving momentum in the Dubai real estate market. The past 12 months have seen the maximum volume of transactions for this timeframe in the history of Dubai real estate, according to publicly available government data analysed by Data Finder, the real estate insights and data platform under the Property Finder Group.
Dubai registered a total of 44,590 overall real estate transactions from November 2018 until November 2019. This is the highest transactional volume for any 12-month period in the history of Dubai real estate since sales transaction data was made publicly available.
A total of 36,799 residential properties have been sold in Dubai from January until November 30 this year, according to publicly available government data. This is the second highest since 2017 when 37,338 residential units were sold in total. However, when December transactions are added, it is likely that 2019 will hit a 10-year record for volume of residential properties sold.
Property Finder also recently reported that November property sales in Dubai had hit a 11-year high of 5,037 deals, up from 4,774 deals in October and 4,007 transactions in September. All these are indications that the Dubai property market is gearing up for an upturn ahead of Expo 2020.
The spurt in transactional volumes since September 2019 can be attributed to the positive impact on market sentiment following the formation of the emirate’s Higher Real Estate Planning Committee, which has been set up to come up with a longer term plan for the future of the sector.
Even in terms of the value of real estate transactions, November 2019 has been the best so far this year, with deals worth AED9.27 billion ($2.5 billion) registered in Dubai. The second best month so far this year was February, with property transactions worth AED 8.71 billion ($2.3 billion) registered in Dubai, according to Data Finder. This was followed by October, which registered transactions worth AED 8.68 billion ($2.36 billion).
The lowest so far was August, which clocked in only property deals worth AED 4.27 billion ($1.16 billion). This can be attributed to the general transactional lull during the summer months.
Cumulatively, sales transactions worth AED 76.6 billion ($2 billion) have been registered in Dubai until November 30 this year, according to publicly available government data. This excludes mortgage transactions, land grants and other transactions.
The increasing sales momentum is an indication of increasing consumer confidence in the market. This comes on the back of declining property prices, an excess amount of supply in the market, favorable payment plans from developers and low interest rates from mortgage providers. All these combined are driving confidence among buyers to invest in Dubai property a few months ahead of Expo 2020.
“I believe we will continue to see transactions rise month on month going into 2020 and see a nice mix of investors and end-users purchasing property in Dubai. Prices should also start to stabilize as we move into H2 of 2020.”
— Lynnette Abad, Director of Research and Data, Property Finder
Reforms initiated by the government and the UAE Central Bank have also boosted demand. New regulations, such as the 10-year Gold Card, retirement visa, property purchase visa, and the Mollak system to streamline service charges have been welcomed by end-users and investors alike. The decision to reduce the early settlement fee for mortgages and remove the maximum age to repay mortgages have also met with a positive response.
SOURCE Property Finder Group
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Buying property can be one of the most rewarding and lucrative investments you ever make. It can also ruin you. Real estate is a risky game even for the most seasoned investors, but when you're just starting out, the stakes are even higher.
Regardless of your experience in real estate investment, however, it pays to have tools that help reduce your risk and optimize your return. Mashvisor is one such tool.
As automation takes over practically every industry, Mashvisor is putting it to good use in the real estate investment business. This platform uses vast sets of real estate data and analytics to turn months of research into 15 minutes, helping you to find lucrative traditional or Airbnb properties all over the country.
Just type in any city of interest and you'll immediately get a detailed overview of the investment opportunities in each area of the city, with key calculations on individual property potential.
Read more here
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This partnership looks to explore technology solutions to support the modernization of the real estate trust account process.
Jack Wong, CEO, Real Estate Foundation of BC said:
“The real estate industry is evolving at an ever-increasing pace and the processes for managing trust accounts haven’t kept up. Through this partnership, we look forward to exploring how we might modernize trust accounts and adopt new financial technologies to help our foundation thrive: simplified transaction processes, less time and paper, and the highest standards of accountability."
Working together, Platform Calgary, AREF, and REFBC will host workshops with real estate professionals in Alberta and British Columbia to understand challenges within the trust account process and how new approaches might support the industry. Partners include real estate brokers, financial institutions, government, post-secondaries, and real estate foundations. Future phases will see Platform Calgary leverage its experience with technology startups to establish a startup accelerator and incubator program. This accelerator and incubator will feature programming that prepares startups to address opportunities identified by industry partners.
Cheryl DePaoli, Executive Director of AREF said:
“In partnering with Platform Calgary, there is an opportunity to show leadership by using technology to improve the industry. We see opportunities to improve workflows, tighten up compliance documentation, and reduce banking fees. Ultimately, we aim to increase interest revenue to the foundations to support the public good. We look forward to increased collaboration with financial institutions and diverse industry partners through this process.”
Platform Calgary has a history of incubating and growing startups, with programs like Junction and industry partnerships with TELUS. Over the past three years, over 85 companies have gone through these programs, creating new jobs and millions of dollars of economic growth in the province.
SOURCE Alberta Real Estate Foundation
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The campaign went live on November 25, 2019. During its three-week tenure, it connected 97+ recruiters and hiring partners with 82,686 job applicants, thereby creating a stir in the employment scenario.
Sharing finer details about the campaign, Sanjay Goyal, Business Head, TimesJobs and TechGig, said:
“It is the season to be cheerful, and with this campaign - both TimesJobs and Radio Mirchi - have proved that the job market is still buoyant, recruiters are on the lookout for the right talent, and candidates are optimistic about getting a job. The Ready Steady Jobs campaign was on for three weeks and the recruiting partners tirelessly scanned through the 82,686+ resumes submitted for 8,839+ jobs. This indicates that the talent market has immense demand and supply, and thus even more reason for the employment market to be merry.”
Read more here.
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The new products join PI’s existing hiring (PI Hire) and management (PI Inspire) solutions to help senior leadership teams gain agreement on their business strategies, pinpoint potential blind spots and risk areas for execution of those strategies, and uncover employee engagement issues. Together, software solutions and expert services empower companies to boost productivity and achieve maximum business results.
“Defining business strategy is hard, and when you’re working with competing opinions and priorities across a leadership team, it’s even harder,” said Dr. Matt Poepsel, SVP of Product at The Predictive Index. “To deliver bottom-line business results, you not only need a clear business strategy, but you also need to mobilize your entire workforce around that strategy.”
Dr. Poepsel continued:
“That’s extremely difficult to do if you don’t have access to data that tells you objectively how your employees think and work, as well as what motivates them to be engaged and perform at their best. Now, with the additions of PI Design and PI Diagnose to complement our Hire and Inspire solutions, we have a complete talent optimization platform.”
The Predictive Index makes this announcement from OPTIMA, the inaugural talent optimization conference, taking place from November 20–22, 2019 at the Sheraton Hotel in Boston, MA.
PI Design: A new way to seamlessly align talent strategy to business strategy
Four of the five biggest challenges CEOs face today are related to talent strategy, according to the Annual CEO Benchmarking Report.
PI Design is a new product set that empowers leadership teams to gain clarity and agreement on business strategy—and to determine whether they have the right teams in place to execute that strategy. Whether an organization is looking to commercialize new ideas, expand into a new vertical, or stabilize an existing offering, the PI Strategy Assessment™ helps senior leaders align on business objectives and identify gaps between their team’s competencies and the strategy. The new “Execute Strategy with Confidence” workshop ensures leaders align on a 12-18 month business strategy, which will inform their talent strategy creation.
PI Diagnose: An actionable engagement solution to boost employee experience
Disengaged employees cost companies across the U.S. $500 billion per year in lost productivity, according to Gallup.
PI Diagnose is an employee engagement solution that identifies the root causes of engagement issues and prescribes clear action paths so organizations can not only measure engagement but also quickly address it. Through a combination of software, science, and expert services, Diagnose makes engagement metrics actionable, and includes the PI Employee Experience Survey™, Employee Experience Coaching, and the “Take Action on Engagement” workshop. Unlike its competitors, the PI Employee Experience Survey measures company-wide engagement plus engagement on teams.
SOURCE The Predictive Index
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Through a months-long process of demos, vendor discussions, customer interviews, independent research and mapping of features and benefits; Padlifter has distilled the universe of property management systems down to the leading 75 PMS options a property manager or owner should consider.
Padlifter says it has taken the best-of-breed options and created a bespoke PMS selection tool – built around individual requirements, budgets and preferences – to assist property managers and owners in its selection process.
Padlifter Founder and CEO, Evian Gutman, said:
“We developed this tool because every other resource in the market promoted a ‘one-size-fits-all’ approach to selecting the ‘right’ PMS, irrespective of the individual circumstances of the individual seeking guidance or advice.
“Whilst it was tempting to allocate ‘awards’, we believe that doing so is disingenuous. The ‘best’ PMS is a circumstantial function of an individual’s unique requirements, budget and preferences.
“The best PMS for Susie the property manager in Spain will be different to the best PMS for Michael the single property owner in Los Angeles."
Read more here
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Following its participation with the 500 Startups accelerator in Mexico City, the marketplace facilitating land purchases and rentals even established new Latin American headquarters in the region’s largest Spanish-speaking country. Meaning, it may only be a matter of time until this proptech reaches more markets throughout the region.
As one of the only Chilean participants from this recent 500 Startups cohort, now PortalTerreno is officially scaling into Mexico. Such a development comes after running for two years in its native Chile.
Founder Andrés Sadler said in a recent press release:
“This is an excellent opportunity to expand PortalTerreno to other Latin American countries, starting with Mexico.
“We are happy to be partners of one of the largest startups investment funds in the world. This will help us to accelerate this process even further, more so with the excellent team at PortalTerreno.com.”
Today, this Chilean startup is reportedly the most visited site for land acquisitions in Chile with over 8,000 listings. These include sites for residential, agricultural, as well as commercial purchases.
Read more here
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
The experts of the Valuation Institute have analyzed the panorama with the intention of shedding light on these doubts, without neglecting the more economical approach such as sales transactions, mortgages or the price of homes.
The number of Proptech companies continues to increase, to the point that there are currently 327 startups in Spain dedicated to offering technology services in real estate. Among all of them, they try to cover market gaps and automate processes.
For example, visit a home with virtual reality and without the need to move or manage all the properties of interest through apps directly from the mobile. Also, it has begun to integrate big data, marketing 4.0 and simulators to improve the sales processes of professionals in the sector, facilitating transactions for all parties.
Thus, the forecast is that the most disruptive technologies continue to be integrated into the different services of the sector, with the aim of automating processes, lowering costs and facilitating efforts.
Collaboration is booming in real estate. Concepts such as coworking are increasingly common, and it is that new collaborative work environments that allow companies or individuals to rent a certain area of a space sharing with others do not stop appearing.
In the same way, and as an extension of coworking a new residential phenomenon appears: coliving, a trend of "living together" that joins housing and shared work space. Created with the millennial public in focus, and more specifically to entrepreneurial profiles, this new format seeks to solve the housing shortage and gives priority to common areas, where residents can socialize, share experiences and even work. This trend, which is expected to increase and expand during 2020, also offers high returns for tenants.
The price of rentals already shows exhaustion: what challenges will housing have to face in 2020?
The future of homes and real estate in general by 2020 will be marked in an important way by the European Energy Performance of Buildings Directive, which states that, by the end of 2020, all new buildings must have virtually zero energy consumption. In addition, said regulation also provides that the energy consumed in these homes must be produced from renewable sources that are in the structure itself or somewhere nearby. One could then intuit that the construction trend will be directed towards the Passivhaus building model, which are basically those constructions that use their own resources to reduce energy consumption.
The most up-to-date information from the General Council of Notaries reflects a 3.2% year-on-year decrease in the sale of free housing by foreign buyers in the first half of 2019, registering the first setback in this type of transactions after 7 years and medium of uninterrupted growth.
The main fall corresponds to non-resident foreigners, with 41% of operations and a decrease of 9.7%, while there was a growth among foreigners residing in our country, who performed 59% of operations, with an increase in 1.9% Among all nationalities, the fall between Portuguese (-8.6%), Irish (-7.3%) and Italians (-1.3%) stands out.
In addition, according to data from the Ministry of Development, in the case of the purchase of new housing by resident foreigners the data are more positive during this same period, the first half of 2019, where the increase was 11.8% compared to the first half from the previous year. Despite the fact that in the third quarter of 2019, operations (1,731) have fallen compared to the second quarter, with more than 2,000 registered sales, the same as with second-hand housing transactions that have increased from 22,132 in the second quarter to 18,500 in the following quarter.
This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
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Jobvite helps clients to recruit, source and onboard new talent faster. By joining the Jobvite Marketplace, First Advantage will streamline, expedite and augment screening and monitoring for Jobvite customers.
“Integration into the Jobvite Marketplace will broaden the reach of First Advantage’s comprehensive screening capabilities and solutions, improving the hiring process for end users,” said Joe Jaeger, Chief Revenue Officer and Executive Vice President for First Advantage. “Leveraging the demonstrated strength and industry expertise of First Advantage will help companies optimize their recruiting practices with greater accuracy, efficiency and quality.”
“Like Jobvite, First Advantage utilizes top tier technology and analytics capabilities to deliver the best in recruiting and hiring,” said Peter Clare, SVP Customers and Operations, for Jobvite. “We are pleased to partner with First Advantage and provide industry-leading screening expertise to our customers.”
First Advantage brings convenience to the hiring process by streamlining background screening. By electronically capturing and digitizing candidate information with artificial intelligence-enhanced data validation, First Advantage reduces data input inaccuracies, decreasing time to hire. Sharing status updates in near real-time, First Advantage improves the candidate experience for Jobvite customers, delivering accurate, up-to-date information throughout the lifecycle of a background screening or drug screening order.
SOURCE First Advantage and Jobvite
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This valuation represents a 34% premium to Care.com's unaffected closing stock price on October 25, 2019, the last trading day before a media report was published speculating about a potential sale process.
With more than 1.5 million successful matches made since its inception and 374,000 paying families as of Q3 2019, Care.com is the leading global platform for matching families with caregivers in the rapidly growing but highly fragmented market for family care, sized in excess of $300 billion in the US alone. With this acquisition, IAC will gain a foothold in a market new to the company with natural, secular tailwinds. Following a proven playbook used to grow other marketplaces, IAC will invest to accelerate Care.com's growth across its core categories (child and senior care) with the opportunity to further extend its platform into adjacent areas, such as pet and home care.
"Family care is exciting new territory for us—and an accelerating market as demand for both child and senior care intensifies worldwide," said Joey Levin, CEO, IAC. "The Care.com team has built a trusted brand and marketplace for families all over the world. We like marketplace businesses and this is one in a category we think has incredible potential."
As part of the agreement, IAC and Care.com also announced plans to appoint long-time IAC executive Tim Allen to Chief Executive Officer of Care.com, effective upon closing. Mr. Allen succeeds Founder, Chairwoman and CEO, Sheila Lirio Marcelo, who announced plans to transition from the CEO position earlier this year.
"I'm both thrilled and honored at the opportunity to lead Care.com at this very pivotal moment for the company," said Mr. Allen. "Care.com is the go-to brand making it easier for millions of families to connect with affordable, accessible care – I'm excited to start its next chapter as an IAC company."
Ms. Marcelo said, "Since our founding 13 years ago, we've delivered on our mission to help millions of people find affordable, high-quality care and caregivers find meaningful work. Now, we're bringing together the world's largest marketplace for care with the leader in scaling and growing marketplace businesses. We are excited to work with Tim and IAC's leadership and believe this transaction will deliver value to all our stakeholders."
As part of IAC, Care.com will benefit from IAC's history of building scaled marketplace businesses in verticals such as travel, dating and home services. In particular, IAC is focused on growth in the following areas:
Given the multiple untapped growth opportunities within Care.com's business combined with a number of transaction adjustments, the company will focus on investing to accelerate Care.com's leadership position and doesn't expect to deliver positive operating profit during the first year of ownership.
The transaction is expected to close in the first quarter of 2020.
SOURCE IAC and Care.com
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Kazoo overhauled its Insights & Reporting to provide HR leaders with the information they need to better understand how their Recognition program is driving collaboration and company culture. With updated dashboards and reports, businesses can dig into program participation by department, location, and team to identify top-performing groups or where attention is needed to drive greater alignment. In addition, Recognition Insights & Reporting gives companies a clear understanding of what is motivating their employees while also making it easier for them to set their budget threshold and access their Reward spending over time.
“As a company, our focus this year has been to provide better data to our customers so they can truly see the impact of their employee experience programs,” said Sapna Gulati, EVP of Product at Kazoo. “By updating our Insights & Reporting capabilities for our Recognition & Rewards platform, we are providing HR leaders with the data they need to be strategic business partners that drive decisions across their organizations.”
In October, Kazoo launched updated Insights & Reporting for its Continuous Performance Management platform. Now, by adding Insights & Reporting for Recognition & Rewards, Kazoo is equipping customers with the data needed to better understand their employees and how their participation, engagement, and collaboration impact business objectives and performance. Being able to pull data from the positive feedback employees are receiving from recognition and combining that with their goals and growth development needs, companies now have a better view of what makes an employee successful in their current and future roles.
In addition to the launch of Insights & Reporting, Kazoo also updated its mobile app to now include Survey, Nominations & Awards, and People Directory. With Survey on mobile, users can now easily access and respond to any of Kazoo’s three Survey types — Pulse, eNPS, and Custom Question — while on the go. By adding Nominations & Awards to its mobile app, Kazoo enables users to interact with company custom award programs, by responding to nominations that highlight employees who reflect the company’s core values, business goals, or culture in a matter of minutes. Kazoo’s People Directory feature improves real-time connections across the organization by making it easier for people to get to know their colleagues by putting a face, a name, and a story all on one page.
SOURCE Kazoo
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This strategic relationship with Hibob is the latest in the fast-growing BountyJobs partner network, seeing 500% growth in 2018 and resulting in the largest partner network of any recruitment marketplace. This network connects innovative technology providers focused on improving the way companies recruit, attract and retain talent. This mix of partners has been hand-selected to help support the key constituents of the 2-sided BountyJobs Marketplace; employers and recruiting agencies. The BountyJobs solution can be integrated within any ATS and values the relationships and expertise that partner agencies bring to the table.
Hibob knows that when you grow your people, you grow your business. Hibob was created based on the understanding that the world of work is changing. They built the HR system needed to attract, retain and grow today’s demanding workforce. Hibob takes a fun and friendly consumer approach to engagement tools that sit on top of compelling data insights. With Hibob and BountyJobs joining forces, HR leaders can seamlessly navigate the employee lifecycle, all the way from identifying ideal talent to retaining them for years on end, with two industry-leading platforms that provide seamless user experiences to HR and end-users.
“The data-driven HR tools built by Hibob help companies move quickly and nimbly as they work to attract and retain desired talent,” said Stacey Steiger, Vice President of Product and Marketing at BountyJobs. “From automating mundane HR tasks to improving company culture in unique ways, their people management platform intertwines the needs of people with the speed of technology aligning with the core principles of BountyJobs.”
“The talent revolution is in full swing - finding the best candidates and managing to hire them, develop them, and retain them should be every modern company’s number one priority,” said Ali Fazal, Senior Director of Marketing at Hibob. “With Hibob and BountyJobs joining forces, we’ve made it easier than ever to help HR executives and CEOs hire and engage their employees with best of breed technology, and go back to focusing on what’s important: their people.”
The new relationship, which marries data-driven hiring solutions and traditional talent acquisition, creates an innovative approach for employers when making critical hires.
SOURCE Hibob and BountyJobs
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