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Old Posted Oct 9, 2007, 8:00 AM
venadu_king venadu_king is offline
Join Date: Oct 2007
Posts: 38
Bangalore realty software firm bags Dubai order

BANGALORE: In4velocity Systems, a Bangalore-based real estate and property development software firm, has bagged a lucrative deal valued at Rs 30 million from Omniyat Properties of Dubai.

As part of the Omniyat Holdings group, Omniyat Properties is a privately held real estate investment and development firm in the UAE.

Headquartered in Dubai, Omniyat was set up by Almasa Holdings, a group of IT hardware and software related firms, founded in 1995 by Dubai-based entrepreneur Mehdi Amjad and his Kuwait-based partner Esmail Janathi. Almasa had posted revenue of $400 million in 2006.

In4velocity CEO Rahul Chawla said in a statement here late Wednesday that the deal would enable his firm to enter the real estate market in the Gulf for licensing the company's software products and providing services to prospective clients.

"We find the Gulf a big market for expanding our presence, as real estate is still booming there. We estimate market size for licensing our products and services to be about $50 million," said Chawla.

The company's enterprise resource management system (ERMS) application -- In4Suite RE -- is an integrated end-to-end solution for real estate and property development firms.

"Our suite of products can automate business processes right from land acquisition to engineering, from purchase to sales and from rental to property management," Chawla asserted.

Unlike conventional enterprise resource planning (ERP) software, In4Suite RE enables data analytics and data mining.
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