Magicbricks Expands Developer Solutions with 3D Immersive-Tech by PropViz; Acquires Majority Stake
Magicbricks has expanded its developer offerings with a suite of 3D visualization and immersive technology solutions developed by PropViz. These solutions include virtual walkthroughs, interactive tours, smart location maps, integrated booking systems, and real-time inventory management tools.
Acquiring a majority stake in PropViz, one of the leader in this space through its brands BlueTickVR and Convrse Spaces, Magicbricks aims to enhance buyer engagement, streamline decision-making, and accelerate sales velocity for developers.
PropViz has developed advanced 3D tools that allow developers to showcase their projects in a more interactive way. The tools are designed to help developers market their projects and engage buyers with digital tools that improve decision-making and increase sales. The acquisition will help Magicbricks provide a comprehensive platform to developers, enhancing their marketing and sales processes.
The integration of PropViz’s tools will allow developers to incorporate immersive experiences with real-time inventory data. This will improve operational efficiency by offering real-time insights while helping to market projects effectively. Additionally, the tools will support developers in reducing marketing costs by offering digital solutions to showcase properties.
Sudhir Pai, CEO of Magicbricks, stated, “We now offer a full suite of solutions tailor-made for both homebuyers and developers as part of our full-stack positioning. For developers, apart from our leading ad-sales solutions, we’ve launched Site Visits & Verified Leads as disruptive solutions. With PropViz, we will expand our range of solutions for developers covering the entire funnel from pre-launch to launch to sustenance selling of projects.”
PropViz was founded in 2019 and has been focused on 3D visualization and immersive technology. The company has created 125 million square feet of virtual spaces and designed over 1,800 interactive spatial layouts for developers across India. It has worked with developers such as Godrej, Tata, Smartworld, and Kolte Patil, among others. PropViz’s technology includes solutions for space design, Web 3.0 applications, and AI-powered tools for the real estate market.
Vikrant Singh, Founder and Director of PropViz, shared, “We are excited to join Magicbricks' ecosystem, aligning with our vision to empower developers with cutting-edge immersive-tech & AI solutions. PropViz’s advanced 3D tools, including virtual walkthroughs and real-time inventory integration, have accelerated sales and enhanced buyer experiences for over 100 developers across the country. As part of Magicbricks, we aim to scale these innovations further, providing developers with unparalleled tools to showcase projects effectively while creating dynamic, engaging journeys for prospective homeowners.”
The acquisition of PropViz complements Magicbricks’ existing developer-focused solutions such as Verified Leads, Site Visits, and the iEngage platform. Together, these tools offer a more complete range of solutions for developers, allowing them to market their projects more effectively and engage with potential buyers in new ways. PropViz’s technology adds interactive elements and real-time data integration to Magicbricks’ existing platform, improving developers’ marketing efforts.
This acquisition is part of Magicbricks’ broader strategy to strengthen its position in the real estate technology space. The integration of PropViz’s tools allows Magicbricks to offer a more comprehensive suite of solutions to developers, helping them to engage potential buyers more effectively and streamline their sales processes. The partnership aligns with the growing demand for tech-driven solutions in the real estate sector as developers increasingly look for ways to improve buyer experiences and speed up the sales cycle.
