Having established in 2018, Gaboras aims to regulate the real estate sector, make it indexed and become a market in the end through the use of big data, artificial intelligence and blockchain
Gaboras stands for Real Estate Market Stock Inc in Turkish (GABORAS) andoffers different products and services at every stage for individual property owners, brokers, banks, insurance companies, decision makers, public institutions and organizations. “Securitization of real estate in the stock market discipline where big data, artificial intelligence and blockchain technologies are used is the harbinger of a great vision for everyone,” said Kurtuluş Altun, CEO at Gaboras. Here is what he told me.
What is Gaboras? What are you doing exactly?
Gaboras is a digital way of the trading of real estate in Turkey. It offers different products and services at every stage for individual property owners, brokers, banks, insurance companies, decision makers, public institutions and organizations. In this context, it aims to securitize the real estate, buy and sell it in smaller pieces and make it stock market. It uses big data, artificial intelligence and blockchain technologies to provide real estate trade on end-to-end secure platforms. With Gaboras, the industry’s unregistered structure will be eliminated, making it measurable, traceable, transparent. This will enable domestic and foreign real estate investors to make Turkish investments safe.
How does Gaboras work? What is your business model?
Gaboras is a system consisting of 3 stages. First of all, big-data technology and infrastructure are needed to achieve an exchange discipline. Gaboras, which has been collecting all digital signals in the real estate trade for more than 10 years, has created its data pool, digitizes these data, spatializes them and presents them to decision makers. As such, Gaboras has completed the big data phase. The second phase of real estate trade (Gaboras Market) started with the creation of an impartial and transparent secure trading platform. The process, which started with the local network representative real estate consultants accredited by Gaboras, continues with the reality of the properties in the market and feeds itself by receiving feedback from the local data verification (DAV) project. All real estate requests of corporate customers served by Gaboras are downloaded to real estate consultants in the local network via GOS Market. The process of indexing and trading property is under way as the trade stage is completed. Domestic and foreign investors will be able to invest in these indices with the indices to be created on the GOS Market. Gaboras (Gayrimenkul Borsası A.Ş), one of the most important projects in Turkey’s 2023 goals, will uncover the total value of the real estate sector with local and national software. Gaboras will ensure the recovery of the lost economy worth 4 Trillion TL in real estate.
I noticed you didn’t raise any investments so far. Are you planning any investments in the near future?
The biggest investment of Gaboras Real Estate Exchange is the technology produced by the young minds of this country. Securitization of real estate in the stock market discipline where big-data, artificial intelligence and blockchain technologies are used is the harbinger of a great vision for everyone. On the other hand, we are the biggest network of the sector with the GOS Local Network we have established, especially for brokers.
Are there any similar startups to Gaboras abroad? Are you planning to expand to different countries?
One of the goals of Gaboras in the establishment phase is technology export. In this context, exclusivity agreements are made in neighboring countries. Gaboras is a safe guide for all real estate investors in the national and global area, establishing a Turkey-based real estate exchange. Not only investments in Turkey, could also manage the property outside the country’s borders and offers an infrastructure.
How did COVID-19 affect your business?
COVID-19 has affected us as well as the whole world. However, we realized this risk early and got a quick reflex. In this way, we increased our workload 12 times. Most of the way we did business that we could do in a limited number before COVID-19 grew exponentially. We wanted to digitally monitor the status of their real estates in a period when people could not go out. Interest in Gaboras increased after COVID-19. As Gaboras promising a digital world, there has been no change in the way we do business. There have been some changes in communication tools. For example, every Friday at 11 in which one of Turkey’s most important economy columnists are doing with Vahap Munyar through YouTube live in our homes. In the past, it was necessary to meet, to come together. However, as a result of the changes in this situation after the pandemic, everyone adopted and loved it very much.
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