Malaysian startup VRLab shakes up property industry with V-Prop Touch - Reuters

 

Malaysian startup VRLab shakes up property industry with V-Prop Touch

Malaysian startup VRLab shakes up property industry with V-Prop Touch

Thu Aug 17, 2017 - 09:00am UTC

VRLab, V-Prop Touch

Virtual reality is the next big thing. It is a multi-billion dollar industry disrupting and extending into various sectors, from the obvious gaming experience seen in Malaysian hyper-reality theme park EXA Global or Japan’s surgery training kit Holoeyes.

VRLab has also found the practical use of virtual reality in the property industry as the Malaysian virtual reality developer announced they have developed a VR simulator for the property industry, known as V-Prop Touch.

V-Prop Touch is a real-time online platform that connects property buyers and sellers across the globe in a virtual showroom of the property that is to be sold.

The startup utilizes HTC Vive to step into the virtual property, whereby users can fully immerse themselves in the property, that is to interact with objects in the room such as picking up a plate or switching on the tv.

This will allow property buyers to enjoy an immersive property viewing experience from common facilities to their dream home to an actual sense of space through VR.

Besides, V-Prop Touch has also built-in solutions that allow users to buy a property within virtual reality itself. This is aimed at simplifying the lengthy process of buying property which usually takes months to complete.

Ultimately, it is not just about cutting down the time to show what or how a unit may potentially look like but VRLab said the solution can solve the problems lying in the coordination of meeting the buyers, sellers, and bankers.

By facilitating the meeting between property developer, lawyer, buyer and banker all at once in VR, V-Prop Touch can enable a user to complete a property transaction within 30 minutes.

VRLab said UEM Sunrise will become the first property developer in Malaysia to deploy its VR property solution and plans to use it for the launching of Solaris Parq in the fourth quarter of 2017.

At present, VRLab has 9 branches in total, with 7 branches in West Malaysia and 1 branch each in Sarawak and Sabah. It has a total of 106 headsets and 86 CR rooms, occupying more than 17,540 square feet.

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