AdminKnight Frank Malaysia, Malaysia’s leading real estate services firm, and PropertyGuru, Malaysia’s leading property marketplace, announced their collaboration today to enhance the mass appraisal process to better serve financial institutions in Malaysia.
With this collaboration, Knight Frank Malaysia will introduce AMASe – Advanced Mass Appraisal Solutions ‘electronically’, a bespoke mass property appraisal solution underpinned by proprietary technology from PropertyGuru For Business.
As an early adopter of technology, Knight Frank Malaysia is amplifying its digitalisation efforts and integrating technology into its day-to-day mass property appraisal process. Knight Frank Malaysia aims to further streamline and alleviate the challenges faced by valuers and banks in their workflow process while driving efficiency with less turnaround time and improving productivity.
Financial institutions will have access to up-to-date information, encouraging greater transparency and governance, and ensuring compliance with banking laws and regulatory requirements (Basel II).
Sarkunan Subramaniam, Group Executive Chairman of Knight Frank Malaysia, said, “We continuously adapt innovative property solutions to improve our processes in order to serve our clients better. Our partnership with PropertyGuru allows us to pioneer new solutions together and increase performance for our clients through our expertise, data, and innovation. We are excited to partner with PropertyGuru to meet and exceed the industry objectives while elevating the seamless experience delivered to our clients.”
“Knight Frank Malaysia has always prioritised our human capital and the adoption of technology to assist us in providing results faster, and more efficiently. Such tools not only assist financial institutions, but can also improve other objectives like assisting the local councils for their rating processes. As part of our ongoing efforts to enhance our appraisal methods, we are continuously exploring opportunities to leverage such tools for maximum impact,” he added.
The partnership between Knight Frank Malaysia and PropertyGuru is expected to significantly ease the mass property appraisal process through block revaluation of real estate assets. Knight Frank Malaysia’s customers will be able to experience the latest innovations in the real estate industry within the next month.
Joe Thor, General Manager, Data and Software Solutions, PropertyGuru said, “Harnessing the power of our expertise in property data and technology, this partnership allows us to make mass property appraisal a smooth process for Knight Frank. The demand for this service is anticipated to increase further, as many have been relying on traditional methods to value real estate assets, which can be a time-consuming activity. We are excited to partner with Knight Frank and support their journey in digitising every step of their property journey. Similar solutions are already being used in many developed countries, and we hope to continue partnering with different stakeholders in the industry to drive growth in the real estate ecosystem through intuitive data, insights, and intelligent software.”
