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In4velocity forays into Middle East
By siliconindia
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Wednesday, 03 October 2007, 19:30 IST
Bangalore: Bangalore based In4velocity Systems, a real estate and property development software firm has signed up its first customer in Dubai, Omniyat Properties, a part of Omniyat Holdings group. With this engagement, In4velocity announces its entry into the lucrative real estate market in the Middle East. The licensing and services is initially valued at over one crore rupee and is expected to cross three crore rupee by the end of the year.
"In our estimates, it is worth over $50 million in terms of licensing sales and services as the Real Estate sector is still booming here," said Rahul Chawla, CEO, In4velocity Systems.
In4velocity's Enterprise Resource Management System (ERMS) application, In4Suite RE, which is an integrated end-to-end solution for real estate and property development firms enables data analytics and data mining. Some of its key features include milestone-based project planning, online integration with major accounting systems, reporting and analysis, integrated knowledge management application, online certification and generation of bills, material and inventory management, integrated construction management.
"We have had several inquiries from the Middle East in the past few months and decided to make the leap with Omniyat Properties and tap the demand," added Rahul Chawla.
Omniyat Properties is a privately held real estate investment and development company, headquartered in Dubai, United Arab Emirates. The company grew out of Almasa Holdings, a group of IT hardware and software related companies, founded in 1995 by the Dubai based entrepreneur Mehdi Amjad and his Kuwait based partner Esmail Janathi.