Juwai Iqi Records Us$3 Bln Sales In 2023

KUALA LUMPUR, Feb 21 (Bernama) -- Global prop-tech company Juwai IQI recorded US$3 billion (US$1=RM4.799) in sales and expanded its agent network by one-third to 40,000 worldwide in 2023.

In a statement today, the company announced that it had completed 42,814 transactions and paid US$95 million in commissions to agents last year.  

Juwai IQI also relocated to its new global command centre here last month.

Co-founder and group chief executive officer Kashif Ansari said in 2023, the company managed to expand, close transactions, and recruit new agents despite the inflation, high-interest rates, and geopolitical tensions in the world.

“We completed nearly twice as many transactions in 2023 as we did in 2020, at the pandemic’s on-set. That year, our transaction count was 22,000,” he said.

Meanwhile, co-founder and group managing director Daniel Ho said the company is focused this year on increasing transactions, launching new tech to boost agent productivity, further building its team of agents, and extending geographic reach.

He noted that Juwai had a robust start in 2024, with January’s worldwide sales soaring 98 per cent, marking a 58 per cent increase from the previous year.

“Our 2024 residential outlook is positive, with single-digit home price growth. Factors holding price growth back include limited supply and persistently high interest rates in many countries,” said Ho.

-- BERNAMA