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Thursday, 28.03.2024, 20:04
Dutch company to collect real estate data from all over the world in Kaunas
“Lithuania is a country that stole my heart
from the very first time that I visited it. The people have surprised me with
their openness and curiosity to other cultures, and that is exactly what we
were looking for. Our employees literally come from every corner of the world
and with offices in Delft, London, New York and Hong Kong, it is of great
importance that people who work with us have an international mindset.
Lithuanian people fit very well in this picture since they generally are highly
educated, speak multiple foreign languages and tend to bring a critical
attitude to the table,” says Adriaan
Hoogduijn, head of the office in Kaunas.
The company, which was established in 2013 by
three co-founders in the Netherlands, today has offices in Delft, London, Hong
Kong and New York; the Kaunas office will be the company’s fifth. As CEO Teun van den Dries explains, “the
establishment of the office in Lithuania is an important step towards the goal
of reaching full global coverage of the real estate market. To do so we need an
incredible amount of data and this is the most important reason for opening an
office in Kaunas”.
Adriaan Hoogduijn is very optimistic about the
company’s future in Lithuania. “We’re confident that we’ll find enough
ambitious people in Kaunas and we’re happy that we can bring jobs to Kaunas in
a time where all the resources seem to be drawn towards Vilnius. Kaunas suffers
from obscurity in the eyes of many foreign investors, but I myself see a lot of
potential in this city. Kaunas is quickly developing into a bustling city and
we hope to contribute to this transformation as much as possible”, he noted.
The technology developed by the company enables
data from a large number of different sources to be incorporated in a
comprehensive database. With the help of a calculation model based on big data,
each individual building gets a rating on the basis of which their customers
make decisions that involve millions, if not billions of euros. The services
provided by GeoPhy are mostly used by
big institutional investors such as banks, pension funds and governmental
organisations. At the moment, GeoPhy’s
database contains detailed information on hundreds of millions of buildings in more
than fifty countries. By the end of 2017, the company expects to have at least
doubled that number.
“Big data
is one of the fourth industrial revolution engines and has not been fully used
in Lithuania in a way that brings substantial benefits. According to estimates
by The Wall Street Journal, the
proper and wise use of the analytics of big data can increase profits anywhere
from ten times to even several times that amount. Kaunas University of Technology
has already launched studies in Big Business Data Analytics, and of course
competences that are acquired in practice are no less important. For this
reason, the arrival of such companies is an important catalyst for the entire
industry in Lithuania,” Mantas Katinas,
general manager of Invest Lithuania, the foreign direct investment development
agency, said.