Metrovacesa gathers more than 50 applications and announces the finalists of its Artificial Intelligence contest

• Due to the positive reception of the initiative, the developer has increased the number of finalists to eight: Makensia, Nidus LABS, Photolike, La Magnética, LISDataSolutions, Brains, Architecture y Atlas Real Estate.

• With this initiative, Metrovacesa seeks to capture those disruptive proposals that use Artificial Intelligence to optimise any of the various phases that make up the value chain of real estate development.

• The finalists will present their projects at the end of September and the awards ceremony will take place in early October at Metrovacesa’s headquarters.

Madrid, 10 September 2024. Metrovacesa, Spain’s leading real estate developer with more than one hundred years of history and more than 113 projects under development nationwide, today announces the eight finalists of the first edition of the AI Challenge. With this challenge, the developer seeks to reward innovation based on solutions developed based on artificial intelligence that are applied in different verticals within the real estate sector.

Metrovacesa launched this initiative last May together with TheFringe/LABS, a company specialising in the identification of technological and Data Analytics projects within the real estate market. In this first edition of the Metrovacesa AI Challenge, proptech startups and other companies in the sector were invited to submit AI-based proposals for application in the Real Estate sector.

Due to the good reception of the initiative, of the more than 50 applications received, the developer has increased the number of finalists to 8. Those selected are Makensia, Nidus LABS, Photolike, La Magnética, LISDataSolutions, Brains, Architecture y Atlas Real Estate, which stand out in the categories of Architecture and Product Design, Sustainability, Commercialisation, Process and Cost Efficiency, Customer Experience, Marketing and Aftersales.

Participants submitted their applications between 29 May and 16 July. From then on, a period of evaluation of each of the challenges began, which ended on 13 August.

The finalists will be invited to the Metrovacesa headquarters in Madrid in the last week of September, where they will present their solutions to a panel of experts. The awards ceremony will take place in early October, at an event where the three winners of this first edition of the Metrovacesa AI Challenge will be announced.

 Metrovacesa AI Challenge

This initiative, which fosters a connected community within the real estate technology field, seeks to attract disruptive proposals that can be applied throughout the developer’s value chain. This can range from speeding up the user’s home search process to generating different building designs virtually automatically.

Each company presented has shared solutions for up to three areas of the developer. These include: Opportunity identification (land); Valuation, Analysis and Due Diligence; Promotion; Planning; Site / Construction (Start of work, site management, Incidents, Completion); Marketing and communication; Commercialisation; Quality; After-sales; Value-added services; Land management; Land divestment; Transversal (Administration, Finance and management control, etc.); and Others.

Metrovacesa AI Challenge is part of the developer’s commitment to promoting innovation and technology within the sector. All the information about the competition, requirements and related issues is available on the official website  https://metrovacesachallenge.ai/