Proptech giant, PEXA, has made a strategic move by acquiring Land Insight, a top-tier environmental risk data analytics enterprise based in Sydney. This acquisition comes at a crucial juncture when stakeholders, including governments and industry leaders, are keenly seeking viable metrics to tackle challenges posed by increased housing needs and the overarching spectre of climate change.
Specializing in assessing natural threats, contamination, and geological risks, Land Insight furnishes comprehensive data insights. These insights aid governments, financial entities, and other organizations to fathom the environmental pitfalls tied to land and real estate. Moreover, its nascent data-as-a-service (DaaS) subscription framework is poised to assist potential homeowners in making informed property acquisition decisions.
Glenn King, the CEO and Managing Director of PEXA Group, envisions this acquisition as a pivotal gateway for PEXA into the burgeoning climate resilience sector. He emphasized the escalating demand for substantial data to manage and mitigate climate-induced risks and underscored the existing gaps in obtaining this data, courtesy of the industry’s dispersed nature.
By harnessing Land Insight’s technical prowess, PEXA aspires to equip its clientele with precise climate risk data. This is paramount, especially when contemplating the profound implications on facets such as property valuations, levies, and land-related taxes.
“It’s exhilarating to bring the Land Insight crew under the PEXA umbrella. This signifies our intent to augment our Digital Growth trajectory and envisage the prospective value of Australian realty,” King articulated. He also noted the seamless integration of Land Insight’s environmental risk acumen with other PEXA subsidiaries, citing Value Australia, which seeks to tap into the vast potential of Australia’s $10 trillion property sector.
The amalgamation of extensive environmental risk metrics with the $710 million valuation services industry points to a promising horizon for the Australian innovator. This move aligns perfectly, especially as Value Australia gears up for the commencement of its inaugural major pilot initiative, which was unveiled earlier.
Ana Ouriques, the spearhead at Land Insight, expressed her enthusiasm about this collaboration. She anticipates an accelerated trajectory for Land Insight, powered by PEXA’s profound industry insights and networks. “Allying with PEXA fortifies our mission to serve as the unbiased arbiters in a multifaceted and pivotal industry – a true cornerstone of the economy,” Ouriques reflected.