Residential Real Estate News
World Property Markets to Commence Industry Joint Venture Funding Round
Michael Gerrity, founder of Miami-based World Property Ventures (WPV), has announced that WPV's wholly-owned subsidiary, World Property Markets, is soon launching a significant $350 million joint-venture funding round with multiple industry partners later this quarter.
World Property Markets specializes in developing large-scale property listing search platforms that include: Global Listings, currently the largest international property listings shopping engine with over 3.3 million monthly listings posted across 110 countries; World Property Search, an emerging global AI-powered real estate listings search engine; and Better MLS, an emerging private-label listings marketplace service for enterprise real estate customers such as property developers, homebuilders, brokerages, institutional landlords, associations, banks, and governments.
Gerrity stated, "The time has come to fully leverage new enabling technologies and innovative, 'outside-the-box' approaches -- particularly in AI, data, automation, and scale -- to disrupt, rebuild, and significantly enhance the efficiency, cost, speed, and transparency of the global real estate ecosystem for all stakeholders. Our portfolio companies are uniquely positioned to lead this transformational digital change in the $380 trillion addressable global property market."
He further explained, "At their core, these companies aim to index, map, organize, and democratize the entire world's active listings inventory and information for the benefit of all market participants, equally. We're looking to build AI-powered global search platforms on a scale comparable to the future 'Googles and Amazons' of real estate."
