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Geographic Information Systems (GIS) have evolved into an indispensable tool for real estate planning and development. GIS technology enables users to gather, analyse, and visualise geographical data, revealing significant insights into a location’s physical and natural qualities, as well as socioeconomic and demographic data about the surrounding population. In recent years, the use of GIS technology in real estate planning and development has grown fast. The implementation of GIS technology has aided in the streamlining of the site selection, market analysis, planning and zoning, environmental impact assessment, and infrastructure planning processes.

GIS software, such as QGIS and ArcGIS, enable users to collect, analyse, and visualise geospatial data, offering significant insights into a location’s physical and environmental qualities, as well as socioeconomic and demographic data about the surrounding population.

QGIS is a free open-source GIS programme that can be readily customised with a variety of plugins and extensions. QGIS is frequently used in real estate planning and development because it gives users access to a variety of geographic data sources, such as satellite images, topographic maps, and demographic information. ESRI, a renowned provider of GIS technology, created ArcGIS, a proprietary GIS programme. Because of its superior capabilities for analysing and visualising geographical data, ArcGIS is frequently utilised in real estate planning and development. ArcGIS also includes a set of tools for storing and sharing geographic data, making it an excellent platform for collaboration and project management.

Benefits of Using GIS In Real Estate Planning and Development

In this section, we will look in benefits of GIS technology in real estate planning and development.

1. Efficient Analysis of Property Data

Real estate professionals may use geographic information systems (GIS) to gather, store, and analyse enormous volumes of property data in a single database. Property data, such as property valuations, zoning rules, and land use patterns, may be mapped and visualised using the programme. GIS may also be used to analyse demographic data, such as population growth and income levels, in order to assess the demand for various forms of real estate in a given location. Real estate professionals may make trained judgements regarding site selection, market trends, and real estate development plans by analysing property data with GIS. This can result in more effective resource utilisation and improved outcomes for real estate development initiatives.

2. Visualization of Spatial Relationships and Patterns

One of the significant benefits of using GIS in real estate planning and development is the ability to visualize spatial relationships and patterns. GIS can produce maps and visualisations that represent geographical data in a relevant and understandable manner. GIS, for example, may be used to map the location and borders of multiple zoning districts in a city, allowing developers to know where different types of real estate can be built. GIS may also be used to map property prices and sales data, which allows real estate experts to analyse market patterns and trends. Furthermore, geographic information systems (GIS) can be used to map environmental data such as air quality and water pollution, allowing real estate professionals to identify areas that may be impacted by environmental factors. GIS allows real estate professionals to make better informed decisions and find chances for real estate development that would have been missed using traditional approaches by visualising spatial linkages and patterns.

3. Identification of Potential Risks and Opportunities

Another key advantage of utilising GIS in real estate planning and development is the capacity to anticipate possible dangers and possibilities. To identify possible dangers and possibilities for real estate development, GIS may be used to analyse data from a range of sources, including environmental, demographic, and market data. GIS may be used to map flood zones, seismic activity, and other natural hazards that may affect a development project, for example. It may also be used to analyse demographic data such as population growth and income levels to find high-demand regions for real estate development. Real estate professionals may make better educated judgements regarding site selection, market trends, and real estate development plans by evaluating possible risks and opportunities.

4. Improved Decision-Making for Real Estate Investments

Using GIS also contributes to better real estate investment decision-making. To inform real estate investment decisions, GIS may be used to analyse a wide range of data, including property valuations, zoning rules, demographic data, and environmental data. GIS can, for example, be used to identify high-demand regions for certain types of real estate, such as office space or residential housing. GIS may also be used to analyse property valuations and trends, allowing real estate experts to find undervalued properties and potentially profitable investment opportunities. GIS can help investors make better educated and data-driven real estate investment decisions, leading in more profitable investments and a higher return on investment.

Examples of GIS In Real Estate Planning and Development

1. Site Selection for Commercial and Residential Properties:

There are various instances of how GIS is utilised in real estate planning and development to pick sites for commercial and residential projects. Here are a few examples:
a. Target market analysis: GIS may be used to analyse demographic data to define the target market for a commercial or residential property. A real estate agent, for example, might use GIS to analyse data on age, income level, and other criteria to find regions with a high concentration of possible clients or tenants.
b. Market trend analysis: GIS may be used to discover regions of strong demand for commercial or residential properties by analysing market patterns such as rental rates or property valuations. A real estate agent, for example, might use GIS to map rental prices in a certain region to find places where rental rates are rising, suggesting a high demand for rental units.
c. Environmental mapping: GIS may be used to map environmental issues such as flood zones, air quality, and other dangers to guarantee that the proposed development location is safe. A real estate specialist, for example, can use GIS to map flood zones and identify regions at danger of flooding, ensuring that the land is safe for development.
d. Site analysis: GIS may be used to analyse the site itself, including topography, soil characteristics, and utility access. A real estate specialist, for example, might use GIS to analyse a site’s slope to evaluate its viability for development or to find locations having public utility access.

2. Urban Planning and Zoning:

GIS is frequently utilised in urban planning and zoning, as well as in real estate development and planning. Here are some examples of how geographic information systems (GIS) are used in urban planning and zoning:
a. Land-use planning: Geographic information systems (GIS) may be used to produce land-use plans that designate areas for certain purposes such as residential, commercial, industrial, or public. To build effective and sustainable land-use plans, urban planners may utilise GIS to analyse numerous elements such as population density, transit access, and environmental considerations.
b. Zoning regulations: Setback requirements, height limitations, and land-use restrictions, may be mapped and analysed using GIS. GIS assists urban planners in ensuring that zoning restrictions are correctly implemented and enforced.
c. Infrastructure planning: Geographic information systems (GIS) may be used to plan and develop infrastructure projects including roads, motorways, and public transit networks. GIS allows urban planners to analyse traffic patterns, transportation access, and environmental elements to design efficient and long-lasting infrastructure systems.
d. Community involvement: Geographic information systems (GIS) may be utilised to enhance community engagement and participation in the urban planning process. GIS allows urban planners to convey complicated information to the public and get comment on planned developments by developing interactive maps and data visualisations.

3. Infrastructure Planning and Management:

Infrastructure, such as roads, bridges, and utilities, may be planned and managed using GIS technology. This helps to guarantee that future development is incorporated into existing infrastructure in an efficient and sustainable manner. GIS technology may also be used to model the impact of projected developments on existing infrastructure in order to detect possible issues. GIS technology may also be used to develop transportation system models, such as public transportation networks. These models may be used to improve transport system design and guarantee that it meets the demands of the surrounding community. A developer, for example, may use GIS to assess the requirement for additional public transport infrastructure to support a new housing development in a specific location.

4. Environmental Impact Assessment:

GIS technology may be used to examine a planned development’s environmental impact. Developers can detect possible environmental problems and minimise them by analysing data on soil, water, air quality, and other environmental aspects. This can assist guarantee that new development is sustainable and has no negative environmental effect. GIS technology may also be used to map the distribution of natural resources such as water and forests. This information can assist developers in better understanding the environmental effect of their projects and making more educated decisions about how to reduce that impact. A developer, for example, may use GIS to assess the possible impact of a new commercial development on neighbouring wetlands and animal habitats.

Challenges and Limitations of GIS in Real Estate Planning and Development

While GIS has numerous benefits and advantages in real estate planning and development, there are also several challenges and limitations associated with its use.

1. Data Accuracy and Completeness:

One of the most difficult aspects of GIS is assuring the accuracy and completeness of the data utilised in analysis. Here are a couple such examples:
a. Data quality: GIS is only as good as the data on which it is based, and erroneous or inadequate data can lead to faulty analysis and decision-making. For example, if property boundary data is wrong or out of date, it might lead to mistakes in site selection or property assessment.
b. Data integration: GIS frequently necessitates the integration of data from numerous sources, which can be difficult and time intensive. Integrating data from many sources might result in discrepancies and inaccuracies in the analysis.
c. Data accessibility: In certain circumstances, the data necessary for GIS analysis may be unavailable or difficult to get. This has the potential to limit the scope and accuracy of the analysis and decision-making.
d. Cost: Putting in place and maintaining GIS systems may be costly, particularly for small real estate enterprises or developers. The cost of data collecting hardware, software, and staff all be substantial barriers to GIS technology adoption.

2. Limited Access to Specialized GIS Software and Tools:

Access to specialised GIS software and tools is another issue and constraint of GIS in real estate planning and development. Here are a couple such examples:
a. Complexity: GIS software and applications may be complicated, requiring specialised expertise to utilise properly. This may limit access to GIS technology for small real estate businesses or developers that lack the means to spend in training or specialised personnel.
b. Cost: As previously stated, the cost of GIS software and tools might be an impediment to adoption for small real estate businesses or developers. Many GIS software packages have annual licence fees, and specialised hardware can be expensive.
c. Technical Expertise: Even for real estate businesses and developers who have access to GIS software and tools, the technical competence necessary to use them successfully might be a barrier. Advanced expertise in data administration, spatial analysis, and programming are frequently required for GIS analysis, which may not be readily available within a real estate business or development team.
d. Limited interoperability: Different GIS software packages and tools may have limited compatibility, making data sharing and collaboration challenging. This might impede real estate professionals’ capacity to collaborate on complicated projects that involve many data sources and research approaches.

3. Need for Specialized Expertise in GIS Technology:

Another issue and restriction of GIS in real estate planning and development is the requirement for specialised GIS technical skills. Here are a couple such examples:
a. Training: As GIS technology evolves, real estate professionals must engage in training to keep current on trends and best practises. This necessitates a large time and resource investment, which can be difficult for smaller real estate enterprises or developers.
b. Complexity: GIS technology is difficult, and many real estate professionals may lack the technical competence needed to utilise it successfully. This can restrict GIS technology uptake, particularly among smaller real estate businesses or developers.
c. Limited availability of expertise: There is a present lack of individuals with specialised competence in GIS technology, notably in the real estate market. This can hinder real estate enterprises’ and developers’ capacity to successfully deploy and exploit GIS technology.
d. Integration with current systems: Integrating GIS technology with existing systems and workflows can be difficult, especially if real estate professionals lack the technical competence necessary to handle the integration process successfully.

Best Practices for Using GIS in Real Estate Planning and Development

1. Combining GIS With Other Technologies Like Automated Value Models for Real Estate:

Using GIS technology in conjunction with other technologies such as automated value models (AVMs) can be a best practise in real estate planning and development. AVMs analyse real estate data using statistical models to provide automated property appraisals. AVMs may give real estate agents with a more thorough view of property prices and trends when paired with GIS technology. Here are some examples of how using GIS technology in conjunction with AVMs can be a best practise in real estate planning and development:
a. Improved accuracy: By merging GIS and AVM technology, real estate professionals may analyse a wide range of data sources, including property attributes, location, and market trends. This can result in a more accurate and thorough property value.
b. Faster analysis: AVMs may automate the property appraisal process, allowing real estate professionals to swiftly analyse enormous amounts of data. When paired with GIS technology, this can help real estate agents make more educated and timely judgements.
c. Improved decision-making: Real estate agents may acquire a more thorough picture of property values and trends by merging GIS technology with AVMs. This enables them to make better educated real estate investment and development decisions.
d. Competitive advantage: Real estate businesses and developers that use GIS technology in conjunction with AVMs may have a market edge. They may be able to attract more clients and secure more business by employing these technologies to give more accurate and thorough appraisals.

2. Regularly Updating and Maintaining Data Sources:

Updating and maintaining data sources on a regular basis is a key best practices for utilising GIS in real estate planning and development. Here are some of the reasons:
a. Ensure accuracy: Because real estate data is continuously changing, failure to update GIS data sources might result in erroneous and out-of-date information. Real estate professionals may guarantee that their GIS technology is giving correct and up-to-date information by routinely updating and maintaining data sources.
b. Improving decision making: GIS technology helps real estate professionals make more informed decisions about property investments and growth. They may make better informed judgements and prevent costly mistakes if their data sources are kept up to date.
c. Streamlining processes: Keeping data sources up to date and maintained on a regular basis may assist real estate professionals simplify their procedures. They may spend less time cleaning and organising data and more time analysing and making data-driven choices if they ensure that their data sources are correct and up to date.
d. Facilitating collaboration: Updating and maintaining data sources on a regular basis can help different teams and departments within a real estate firm or development company collaborate. When everyone is using the same accurate and up-to-date data, it may assist to avoid misunderstandings and keep everyone on the same page.

3. Ensuring Transparency and Accountability in Decision-Making Processes:

Using GIS in real estate planning and development requires ensuring openness and accountability in decision-making processes. Here are some of the reasons:
a. Trust among stakeholders: Real estate development and planning can include several stakeholders, such as government agencies, community organisations, and private developers. Real estate professionals may create confidence with these stakeholders and minimise any conflicts by providing openness and accountability in decision-making processes.
b. Regulation compliance: Real estate development and planning are frequently subject to rules and policies at the municipal, state, and federal levels. Transparency and accountability in decision-making processes can assist real estate agents in adhering to these standards and avoiding legal difficulties.
c. Fairness and equity: The creation and design of real estate may have a substantial influence on communities and individuals. Transparency and accountability in decision-making processes can assist guarantee that these consequences are spread fairly and evenly.
d. Data based decision-making: GIS technology can give real estate professionals with a plethora of data about properties and communities, allowing them to make data-driven decisions. Real estate professionals may make data-driven judgements based on accurate and objective information by guaranteeing openness and accountability in decision-making processes.

Future of GIS in Real Estate Planning and Development

GIS technology is constantly evolving, and there are several emerging trends and technologies that are shaping the future of GIS.

1. Emerging trends and technologies in GIS

The below are the emerging additions in GIS:
a. GIS in the cloud: GIS in the cloud allows users to view and interact with GIS data and tools from any location with an internet connection. This technology is gaining popularity since it allows for collaboration, distant work, and more efficient data exchange.
b. Real-time GIS: Real-time GIS technology allows users to monitor and analyse data as it is collected, resulting in more current and accurate information. Many industries, including transportation, public safety, and environmental monitoring, can benefit from this technology.
c. 3D GIS: Using 3D GIS technology, users may see and analyse data in three dimensions, offering a more immersive and detailed perspective of geographic data. This technology may be used in urban planning, architecture, and building.
d. Artificial Intelligence (AI) and Machine Learning (ML): AI and ML technologies may be used to analyse and understand vast volumes of GIS data, detecting patterns and trends that may not be immediately obvious. Many industries, including real estate, natural resource management, and public health, can benefit from this technology.
e. Mobile GIS: This technology enables users to view and interact with GIS data from mobile devices such as smartphones and tablets. This technology, which allows users to gather and analyse data in real time, is becoming increasingly popular in field work.

2. Potential Impact on the Industry

GIS in real estate planning and development has the potential to have a big influence on the real estate market in the future. Here are some examples of potential consequences:
a. Decision-making: GIS technology can give real estate professionals with a plethora of data about properties and communities, allowing for more efficient and informed decision-making. Real estate professionals may use GIS technology to swiftly analyse data, spot trends and patterns, and make better data-driven choices.
b. Site selection: GIS technology may be used to determine best sites for future developments, taking into consideration aspects such as transit accessibility, proximity to facilities, and demographic data. This can result in more successful developments and better benefits for developers and communities alike.
c. Improved collaboration: Using cloud-based GIS technology, real estate professionals can interact more efficiently and effectively, regardless of where they are. This can help to enhance communication, transparency, and project procedures.
d. Accurate valuations: GIS technology may be used to analyse data on property prices, sales, and trends, allowing for more accurate and exact appraisals. This can assist real estate professionals in making more informed judgements about property investments and transactions.
e. Transparency and accountability: GIS technology may give real estate professionals with a tool to illustrate the impact of their developments on communities, allowing for better openness and accountability. Real estate agents may develop trust and minimise possible disputes by sharing this information with stakeholders.

What’s Estater & Role in Real Estate Planning and Development?

Estater is a leading Proptech in GCC region, specializing in real estate data and analytics. Estater stores and analyses a large quantity of real estate data, including property prices, sales, and demographic information, using GIS technology. We can organise and manage data from a range of sources, including public records, tax data, and corporate data, all thanks to GIS technology. This data may then be utilised by the organisation to provide thorough property reports, market research, and trend studies for real estate professionals, investors, and other stakeholders. Estater is able to deliver accurate and up-to-date data to its clients by utilising GIS technology, allowing them to make better educated decisions about real estate investments and transactions. In addition, the technology enables the organisation to discover trends and patterns in real time.

Estater have detailed and comprehensive data on different real estate sector in GCC region that can provide intricate details in these trends.

  1. Market insights: Inventory build-up and occupancy trends.
  2. Location analysis: Market gaps and retail catchment analysis.
  3. Competitor Benchmarking: Estater can help businesses understand their competition and make strategic decisions.
  4. Financial Modelling: Estater can provide you highly flexible financial model which can be easily modified based on your inputs.
  5. Leasing Trends: Lease rate and tenant mix analysis.
  6. Demographic analysis: Combining retail sector data with demographics of the areas, Estater can help businesses understand their target audience.
  7. Consultancy: We offer consulting services for many aspects of real estate reports, such as financial modelling, benchmarking, demographic analysis, catchment analysis, and so on. Our Estater Meter and Market Intelligence solutions will provide you with customised results depending on your preferences.

Marina Mall

March 29, 2023 | Estater, Kuwait Retail Sector | No Comments

Marina mall is one of the biggest shopping malls located along the waterfront on Salem Al Mubarak St, Salmiya, Kuwait. It is centrepiece of the famous mixed-use Marina World development and linked to several large building like Marina Crescent, Waterfront & Marina Waves.

Marina Mall is famous for one of the largest spectacular glass domes and a large beautiful glass fountain as its point of focus, equipped with a sail that automatically moves in the sun’s direction.

The mall is known for its food, entertainment, and shopping opportunities. Top national and international brands in a variety of shopping categories are available at Marina Mall. American Eagle, H&M, Zara and Austin Reed are some of the mall’s well-known top fashion brands. Entertainment facilities like Fun Zone, Cinescape, Below Zero and Yacht Riding are the mall’s major attractions. Enjoying the most recent movies in Cinescape provides you with an entertaining and dramatic experience. The first pedestrian suspension bridge in a commercial complex in Kuwait, the suspended glass bridge is a thrill to walk on and looks out over the Arabian Gulf Street.

Snapshot:

1. Shopping in Marina Mall: The Mall has 194 shopping brands spread across 2 floors and more than 150 retail stores. Global brands from various industries have their stores in the mall, as the premium shopping destination attracts customers in large numbers. The mall provides stores for Health, Footwear, Beauty Products, Jewellery, Finance, Apparel & many more. The mall allows the customer to choose from a variety of lifestyle items. The Mall includes some of the prominent brands like Zara, American Eagle, H&M, Zara, Austin Reed, Calvin Klein, Arabian Oud, The Athlete’s Foot, Miniso, Milano, River Island, Victoria Street, Foot Locker and many more.

2. F&B in Marina Mall: The Marina mall houses approximately 81 dining restaurants & 10 cafes. The mall has a wide range of dining options, such as fine dining, fast food joints, coffee shops, and cafes which makes it a popular weekend destination in this part of the city. Starbucks Coffee, The Chocolate Bar, TGI Friday’s, Costa Coffee, KFC, Burger King, MacDonalds, Paul Depuis, Zaatar, and many more are popular food and beverage options present in the mall. The mall provides an extensive variety of restaurants offering well-known dishes from throughout the globe.

3. Entertainment and Leisure activities in Marina Mall: Marina Mall is famous for some of its best entertainment and leisure activities in Kuwait. Owing to its location, It has become one of the most preferred entertainment complex in the neighbourhood. While Cinescape Marina offer a great movie experience, there are other entertainment options like Fun Zone Park, Below Zero, Marina FM and Marina Yatch Club which make the mall an ideal vacation spot for families.

Major attractions in Marina Mall:

The mall provides a variety of leisure and entertainment services for individuals of all ages. The major key attractions of the mall include-

1. Marina Yacht Club: Marina Yacht Club is a major attraction in Marina Mall with space for 144 berths. If you are into Yacht riding, you may take a cruise, go on a boat trip, and have an amusing time at the Marina Yacht Club.

2. Marina FM:Marina FM is the first private radio station in Kuwait. It offers the audience a great music experience in a distinct way. The FM studio is strategically located on the second floor with a view of ground floor which enables an amazing view from the studio unlike the traditional FM studios.

3. Cinescape: Cinescape Marina is one of the popular places listed under movie theatre in Salmiya . It is a luxury theatre specifically designed to offer an optimal view to each viewer with 4 screens. It is designed to offer privacy along with a relaxing experience while enjoying your movie.

4. Below Zero: Below Zero offers one of the best entertainment experiences for children & their family, allows to have a fun ice-skating experience while learning the value of physical fitness, dedication, and commitment.

5. Fun Zone Park: Fun Zone Park is an entertainment park for kids in Marina Mall with 1,070 sqm. as per Estater estimates. The two main activities to attract kids that are soft playground & trampoline park. It is the perfect play area for children to learn while having fun. There is plenty of scope in the play area for children to slide, climb, jump, and engage in other play activities.

Interesting Facts about Marina Mall:

  1. According to Estater estimations, Marina Mall’s total gross leasable space is close to 30,900 m2.
  2. The mall is primarily a destination for fashion and around 57% of the total GLA allotted to clothing, footwear, and accessories in the mall.
  3. The entertainment category covers up to 8% of the total GLA.
  4. Two of the mall’s biggest tenants are Decathalon and Zara.
  5. Cinescape & Victoria Secret occupy a maximum of 4 units each in the mall.
  6. This mall showcases amazing glass fountains as its centrepiece with one of the biggest glass domes in the region.
  7. The Mall is linked with a glass-enclosed bridge to Marina Crescent, a seafront component lined with international cafes and restaurants.
  8. The Mall directly connects to the Marina Crecent by a panoramic, 100-meter long, air-conditioned bridge.

Shop Your favourite brands in Marina Mall Kuwait:

Marina Mall allows their customers to choose from a wide range of local as well as international fashion brands. Estater estimates 57% of the malls’ leasable area is occupied by fashion brands, which include clothing, footwear, cosmetics, and accessories. Some of the major clothing retailers at the mall are Decathlon, Zara, H&M, Vavavoom, and American Eagle. With approx. 8% of the total GLA, Decathlon is one of the larger stores in the mall followed by Zara with 7% of the total GLA.

Cafes, fine & dining in Marina Mall Kuwait:

The Mall offers some of the top food and beverage venues, such as Starbucks Coffee, The Chocolate Bar, TGI Friday’s, Costa Coffee, KFC, Burger King, MacDonalds, Paul Depuis, Zaatar, and many others. Many dishes and cuisines are available for one to pick from.

Cafes and Coffee Shop in Marina Mall:

  1. Starbucks: One of the most well-known chain cafes, Starbucks offers a wide range of specialty coffee selections. A pleasant resting place away from the pressures of work and family, Starbucks presents itself as more than just a cafe.
  2. Costa Coffee: Costa coffee is the people favourite’s coffee shop & largest fast growing coffee chain in all over world now-a-days. It offers a hug variety of coffee options to the costumers.
  3. The Chocolate Bar: The Chocolate Bar is the best place to indulge the atmosphere, the cuisine & the service. Costumers can gather here with their family & friends and enjoy.

Dine In Restaurants in Marina Mall:

  1. Paul: Paul provides guests with a truly European experience with classic cuisine and first-rate service. It is best known for using select ingredients to dish out a whopping variety of French delicacies. Paul specialises in trademark breads, viennoiseries, artisanal pizza, sandwiches, coffee, and other hot & cold beverages, as well as a large choice of beautifully presented desserts.
  2. Zaatar: Zaatar is one the most favourite restaurant in Marina Mall. It offers delicious food & efficient welcoming manger and staffs.

Overall, the mall offers a unique combination of shopping combined with entertainment options like Yacht Club, Cinescape, Below Zero and Fun Zone Park. The mall also offers a wide range of cafes and dine in options which makes it a great lifestyle destination for families.    

Assima Mall

March 29, 2023 | Estater, Kuwait Retail Sector | No Comments

Assima Mall is one of the newest shopping malls in Kuwait. The mixed-use property includes the largest commercial mall in the heart of Kuwait City and was opened on 8 November 2021. Assima Mall boasts a phenomenal lifestyle and entertainment that includes a cinema, gym, spa, and entertainment, as well as numerous dining options throughout the mall.

The Assima, meaning capital in Arabic, is a mixed-use project developed by Assima Real Estate Company, wholly owned by Salhia Real Estate Company. The project commenced in October 2015 and was completed at the end of 2021. Bringing together all the conveniences of a mini city within the heart of Kuwait City with a total built up area of 380,000 square meters. Featuring three main components which are, a mall with urban parks, an office tower with stunning sea-views and cityscapes, and a residence hotel. The project also features ample parking to serve the three main components of the project. Following are the quick things what one can experience in Assima Mall.

1. Shopping in The Assima Mall: With over 265 stores, spread over six floors, Assima Mall is one stop destination for any shopper. Mall features a mix of brands from contemporary, to high-street, many of which are introduced in Kuwait for the first time. Local and international labels are available, including well-known brands such as Charles & Keith, Calvin Klein, Mango, Tommy Hilfiger, Bershka and many more.

2. F&B in The Assima Mall: The Assima Mall’s food court is a popular destination for foodies, with a variety of options to choose from. The mall utilizes its outdoor spaces with finesse; there are a range rooftop cafes and restaurants alongside the urban park – perfect for the cooler months. The uniquely designed spaces serve a range of cuisines, perfect for every taste and palate – there are multitude of options to choose from, be it a quick bite, a leisurely lunch, or even a more contemporary meal.

3. Entertainment Places in The Assima Mall: The Assima Mall has an enormous lifestyle and leisure element which includes a cinema, gym, spa, and great entertainment for the whole family. It is the perfect place to spend your weekend or weekday with your family.

4. Amenities in The Assima Mall: The mall is designed for comfort and convenience, with amenities such as clean restrooms, prayer rooms, and plenty of seating areas. There is also plenty of parking, both indoor and outdoor.

Interesting Facts About Assima Kuwait:

  1. Estater estimates that the total Gross Leasable Area (GLA) of Assima is more than 70,000 m2.
  2. Fashion, Shoes, and Accessories stores account for 24% of the GLA.
  3. IKEA and Monoprix – two main anchor stores – account for about 12% of total GLA.

For Unforgettable Experiences, Entertainment Destination at Assima Mall in Kuwait

The Assima Mall caters to a variety of entertainment options for visitors of all ages. Here are some of the fun and exciting destinations you can find in The Assima:

1. Rainbow Park in The Assima Mall – The Rainbow Park is an indoor amusement park located on the second floor of the mall. It is a entertainment amusement park for children which features a host of indoor rides, roller coaster, bumper cars, and arcade games.

2. Sky Zone in The Assima Mall – Sky Zone is a space for children and adults to move, create and enjoy. Sky Zone is an aerial park for children located on the second floor of the mall. It allows children to explore different aerial games.

3. National Geographic Ultimate Explorer in The Assima Mall – National Geographic Ultimate Explorer attraction gives families the chance to travel to the farthest reaches of outer space, go to the bottom of the ocean and top of Everest without ever leaving the mall.

4. Cinema & Theatres in The Assima Mall – Cinescape – Kuwait National Cinema Company (KNCC) – is a movie theatre chain and film distributor in Kuwait. Cinescape offers a range of movies of different genres and offers comfortable seating and an amazing movie watching experience. They have kiosk of refreshments to enjoy during the movie.

Shop Your Favourite Brands at The Assima Mall Kuwait

Fashion, Shoes, and Accessories stores account for 24% of GLA in the Assima Mall Kuwait. While looking for a variety of goods and services in one convenient location, Assima Mall is the best choice. This upscale mall, which is located close in Kuwait City, features everything from clothes stores to electronics stores and even eateries. Customers can expect ease and quality from their shopping experience at the Assima Mall Kuwait, which offers more than 50 international brands.

Clients can browse through designer brands like Calvin Klein, Mango, Tommy Hilfiger and more without having to go online or hunt throughout the city for what they require. Customers can not only purchase a variety of luxury goods, but they can also purchase a variety of everyday items! From fashion accessories like handbags and shoes to groceries like fresh fruits and vegetables, you will undoubtedly find something to suit your budget and taste preferences. Some of the big shopping stores in The Assima Mall are:

1. IKEA in The Assima Mall – IKEA is a Swedish furniture and home décor retailer with stores all over the world, including Kuwait. The store sells a wide range of furniture, home decor, and household items that are both functional and fashionable. IKEA’s most popular items include beds, sofas, chairs, tables, kitchen cabinets, lighting fixtures, and textiles. Furthermore, IKEA in Assima Mall Kuwait has a restaurant where customers can enjoy Swedish-inspired food and beverages. For a fee, the store also offers delivery and assembly services.

2. Monoprix in The Assima Mall – Monoprix in Assima Mall is a major French retail chain with its headquarters in Clichy, Hauts-de-Seine, France, near Paris. The company’s stores combine food retailing with fashion, beauty, and home products.

Cafes, Fine & Bistro Dining at The Assima Mall Kuwait

The Assima Kuwait is a well-liked spot for dining, shopping, and entertainment, offering a variety of cuisines to suit all preferences and price ranges. Let us look at The Assima Mall Kuwait’s cafes, fine dining, and bistro options for dining.

Cafes in The Assima Mall Kuwait:

1. Costa Coffee in The Assima Mall – Costa Coffee is a popular coffeehouse chain that serves a variety of coffee, tea, and snacks. Costa branches sell hot and cold drinks, sandwiches, cakes and pastries, and snacks. In 2020, the brand collaborated with three chocolate brands (Quality Street, After Eight and Terry’s) for some of their limited-edition Christmas drinks.

2. Lavazza in The Assima Mall – Luigi Lavazza, shortened and stylized as LAVAZZA, is an Italian manufacturer of coffee products. Founded in Turin in 1895 by Luigi Lavazza, it was initially run from a small grocery store at Via San Tommaso 10. The business is currently administered by the third and fourth generations of the Lavazza family. The company operates several retail coffee shops. The shops offer traditional coffee drinks as well as whole bean and ground coffee for home use.

3. Nespresso in The Assima Mall – Nestlé Nespresso S.A., trading as Nespresso, is an operating unit of the Nestlé Group, based in Lausanne, Switzerland. Nespresso machines brew espresso and coffee from coffee capsules or pods in machines for home or professional use, a type of pre-apportioned single-use container, or reusable capsules (pods), of ground coffee beans, sometimes with added flavourings.

Fine Dining in The Assima Kuwait:

1. Mia Restaurant in The Assima Mall – Mia Restaurant is a well-known Mediterranean restaurant that offers a range of hummus, pita bread, falafel and many more. The restaurant’s elegant decor and attentive service make it a perfect place for a fine dining experience.

2. Little Ruby’s in The Assima Mall – Little Ruby’s is a well-known restaurant that combines Italian and American flavours. Signature dishes at the restaurant includes Pizza, Pasta, Lasagne and many more.

Fast Food and Bistro Dining in The Assima Kuwait:

1. Mcdonald’s in The Assima Mall – McDonald’s Corporation is an American multinational fast food chain. McDonald’s is the world’s largest fast food restaurant chain, serving over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021. McDonald’s is best known for its hamburgers, cheeseburgers and French fries, although their menu also includes other items like chicken, fish, fruit, and salads. Their best-selling licensed item are their French fries, followed by the Big Mac.

2. Elevation Burger in The Assima Mall – Elevation Burger serves organic burgers, fries, and shakes in a fast-casual setting. The restaurant’s dedication to employing high-quality food and environmentally sustainable processes makes it a popular choice among health-conscious guests

3. Taco Bell in The Assima Mall – A variety of exquisite Mexican wraps, sandwiches, and salads are available at the restaurant known as Taco Bell. For a quick snack or casual dinner, the cafe’s welcoming ambiance and helpful staff make it a great choice.

Overall, the six levels Assima Mall features a mix of brands from contemporary, to high-street, many of which are new to Kuwait. The mall includes the largest hypermarket in Kuwait City. Assima Mall is within walking distance of the busy business district of Kuwait City and transforms the shopping experience in the city centre. Before the opening of the Assima Mall, the retail options in Kuwait City were high end and limited options. Assima Mall has filled this gap in the market by offering a wider range of retail outlets, while at the same time offering a hypermarket in the heart of the city.

Despite the challenges posed by the global geo-political uncertainty and a budding financial crisis in 2023, Kuwait’s real estate market has remained resilient. In fact, it continues to be a lucrative investment opportunity for both local and regional investors alike. However, as with any investment decision, it’s important to have a solid strategy in place. That’s where building a data-driven real estate investment strategy comes into play.

By leveraging market intelligence, investors can make informed decisions that increase their chances of success and minimize risk. In this blog post, we’ll explore how to build a successful real estate investment strategy in Kuwait using market intelligence, how to gather and analyze market data, identify investment opportunities, and develop a data-driven investment strategy with this guide.

Importance of Market Intelligence in building a Data-Driven Investment Strategy

Any effective data-driven investment strategy must include market intelligence. It aids in the trend identification, competitive analysis, and investment decision-making processes for investors. Market information can assist investors understand market trends and create plans to increase their profits. Market intelligence can be used to assess the state of the market, find prospective business opportunities, and assess potential risks. Investors can create a realistic picture of their investment portfolio and make wise decisions about where to put their money by comprehending the fundamental elements influencing market performance. Also, it can assist them in creating plans to optimize risks while seizing market possibilities.

Gathering Market Intelligence in Real-estate

Gathering market intelligence in real estate is more crucial than ever today. With the advancement of technology, it is now easier than ever to gain access to market data and make informed judgements. This information can be used to better understand real estate trends, uncover prospective investment possibilities, and assist purchasers in finding the best property for their needs. Market information is increasingly being used by real estate brokers to assist them make better decisions and provide better services to their clients. They can gain a better understanding of the market and how it affects their customers’ assets by analysing data from diverse sources such as public records, surveys, and analytics tools. Let’s divide this section into 3 categories:

1. Finding the sources of market intelligence in Kuwait real estate:

Finding reliable sources of market intelligence is essential for making informed decisions in the Kuwait real-estate market. Knowing the right sources of information can help investors and developers stay up to date on the latest trends, regulations, and opportunities in this rapidly changing market. To find the best sources of market intelligence, it is important to look at both public and private sources. Public sources include government websites, local newspapers, and industry reports. Private sources include real estate agents, brokers, and industry professionals who have access to insider knowledge about the Kuwait real-estate market.

2. Key factors to analyse the market:

When studying the Kuwait real-estate market, several major elements must be considered. Economic conditions, population studies, government regulations, infrastructural development and availability of capital, etc.. Many of these factors influence the market for real estate in Kuwait and can assist investors in making sound investment selections. By carefully comprehending and analysing these critical aspects, investors can acquire insights into the current health of the Kuwait real-estate market and prepare accordingly for future investments.

3. Analysing of demographic and economic trends:

Many demographic and economic variables influence demand and supply dynamics in Kuwait’s real estate market. Kuwait’s population growth has been a major source of demand for housing and commercial spaces, resulting in an increase in property prices. Development of new cities such as Mutla, South Sabah AL Ahmad, Nuwaiseeb, etc. offer scores of new investment opportunities. Furthermore, expatriates make up a sizable section of Kuwait’s population, that opens up several opportunities in Investment Areas.

Determining the Investment Opportunities

While investing in Kuwait real estate, various considerations must be considered. They include the location of the property, the supply and demand equation, possible rental returns and capital appreciation, the legal and regulatory environment, and so on. Let’s see how to determine investment opportunities in Kuwait’s real estate market:

  1. Identifying the potential investment areas in Kuwait:

For investors wishing to diversify their portfolios, Kuwait’s real estate industry is an appealing investment possibility. With a burgeoning population and a thriving economy, the country provides a diverse range of prospective investment opportunities. There are numerous chances for investors to profit from, ranging from residential properties to commercial buildings. Before making any decisions, investors should evaluate the current market trends. While analysing potential investments, consider factors such as population growth, economic stability, and government laws. Furthermore, investors should examine the dangers connected with investing in Kuwait’s real estate market, such as political uncertainty and rising interest rates in 2023. Investors can make informed decisions about where to invest their money to optimise returns by considering these aspects. We have detailed this in one of our blogpost.

2. Evaluating investment opportunities using market intelligence:

The Kuwait real estate market presents several investment opportunities that can be evaluated using market intelligence. Gathering and analysing data from numerous sources to get insights into industry trends, demand and supply dynamics, and price patterns is what market intelligence entails. This information can be used by investors to estimate the possible risks and rewards of investing in the Kuwait real estate market. Population increases, economic development, and government regulations can all have an impact on market performance. Investors can find the most attractive investment possibilities by examining existing and future demand for real estate. Furthermore, market intelligence can assist investors in making educated selections about the types of properties to invest in, such as residential, commercial, or industrial properties. Estater’s MI platform delivers the most updated reports, data visualisations, data tables, catchment and demographic analyses, and benchmarking studies suited to your target investment.

Building a strong Data-Driven Strategy for Investments

Developing a strong data-driven strategy for real estate investments necessitates a systematic approach that includes defining investment objectives, gathering and analysing relevant data, developing investment hypotheses, testing these hypotheses, developing an investment strategy, and monitoring and refining the strategy over time. Following these stages allows investors to make informed decisions based on market trends and patterns, find opportunities for long-term capital appreciation or regular income streams, and efficiently manage risk. A data-driven strategy can assist investors in navigating difficult market conditions, identifying emerging trends and opportunities, and making more informed decisions that are in line with their investment goals.

1. Developing a real estate investment strategy based on market intelligence:

Creating a real estate investment strategy based on market intelligence is critical for real estate success. It entails acquiring and analysing data on numerous real estate market elements such as supply and demand, demographics, catchment study, economic trends, and local legislation. An investor can use this information to uncover possible possibilities and make informed judgements about where to put their money. Market information, for example, might assist an investor in identifying neighbourhoods that are undergoing expansion and have a strong demand for rental properties. Using this information, an investor can devise a plan for acquiring and managing properties in these areas.

Estater Meter will keep you up to date on economic, expansion, demographic, and developmental changes in your target neighbourhoods, as well as provide instant estimates on target properties. Our market intelligence solution MI on the other hand will provide you with the most recent reports, data charts, data tables, catchment and demographic analytics, and benchmarking studies tailored to your target investment.

2. Setting real estate investment goals and objectives:

Establishing real estate investment goals and objectives is a vital element in developing a successful investment strategy. Objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). Investment goals could include generating a specified level of cash flow, achieving a specific return on investment, or acquiring a certain number of properties within a specific timeline. Goals, on the other hand, are the exact steps that an investor takes to achieve their goals. Doing market research, evaluating prospective investment opportunities, examining financial data, and negotiating with sellers are all examples of objectives.

Estater assists you in achieving your investment objectives by using scientific and super flexible financial models. We can match your investment strategies and provide you with consulting services.

3. Developing a real estate investment risk management plan:

Creating a risk management strategy is an essential component of investing in the real estate market. The plan should identify potential hazards and provide mitigation actions. Market fluctuations, property damage or loss, tenant default, and changes in zoning rules or regulations are all common risks in real estate investing. To mitigate these risks, investors can diversify their portfolio, undertake comprehensive due diligence before purchasing a property, seek insurance coverage, and keep enough financial reserves. Also, investors should watch and analyse market developments on a regular basis and alter their approach as needed to keep ahead of potential threats. Investors can reduce their exposure to potential losses and assure the long-term success of their investments by implementing a well-thought-out risk management plan.

How Estater helps for the real estate Investments in Kuwait?

Estater consultancy and advisory services provides detailed and comprehensive reports on different real estate sector in Kuwait that can provide intricate details in these trends related to:

  1. Market insights: Inventory build-up and occupancy trends.
  2. Location analysis: Market gaps and catchment analysis.
  3. Competitor Benchmarking: Estater can help businesses understand their competition and make strategic decisions.
  4. Financial Modelling: Estater can provide you highly flexible financial model which can be easily modified based on your inputs.
  5. Leasing Trends: Lease rate and tenant mix analysis.
  6. Demographic analysis: Combining sectoral data with demographics of the areas, Estater can help businesses understand their target audience.
  7. Consultancy: We offer consulting services for many aspects of real estate reports, such as financial modelling, benchmarking, demographic analysis, catchment analysis, and so on. Our Estater Meter and Market Intelligence solutions will provide you with customised results depending on your preferences.

Real estate investment is one of the most traditional and prominent investments in the world. The real estate market is constantly changing and adapting to new technologies and economic trends. Various market disruptions in the past have now led to a more research backed approach in real estate. Artificial Intelligence (AI) has eased the process of real estate investment, in ways that were unimaginable a few decades ago.  Technological developments like AI market research, automated property recommendations and automated valuation models etc. are leading to a transformation in the real estate industry. In this blog, we’ll explore the impact of AI on real estate investment.

What is AI?

Before diving into the impact of AI on real estate investment, it’s essential to understand what AI is. AI is a technology that involves the development of intelligent machines that can perform tasks that would typically require human intelligence. These tasks include things like decision-making, problem-solving, and natural language processing.

Artificial Intelligence (AI) is revolutionizing various industries across the globe, and real estate is no exception. With AI, real estate investors can make data-driven decisions, automate tasks, and gain insights that were previously not possible. Here’s a closer look at how AI is impacting real estate investment:

How will AI lead to Improved Decision-making in real estate investment?

Real estate investment involves analyzing large amounts of data to make better decisions. AI algorithms can analyze data quickly, accurately, and in real-time. This enables investors to make decisions based on market trends, property value, and other key factors. With AI-powered decision-making, investors can identify opportunities and make informed choices to maximize their returns. This will lead to a reduction in decision making timelines.

For example, let’s say a company has an empty land area in the city of Jeddah and it is thinking of building an amusement park. With the help of AI, collecting and analyzing population data (age groups, families income rates and children number), and competition benchmarking of similar amusement projects might be done within a very fast time and at a fraction of the cost (compared to traditional feasibilities that take several months and may cost a lot).

How AI can help in Predictive Analytics in Real Estate?

AI can predict trends in real estate, enabling investors to make proactive decisions. With predictive analytics, investors can set their objectives, anticipate market trends, identify potential risks, and adjust their investment strategies accordingly. AI-powered predictive analytics can assist investors to spot market opportunities before others and optimize risk in their portfolio.

For example, AI collecting property’s location, size, age, and condition, as well as recent sales data for similar properties in the area would help the predictive model suggest how property values are likely to change in a certain area. Investors might choose to buy a property in that area in order to take advantage of potential future gains. Alternatively, if the model predicts a decline in property values, an investor might choose to sell a property in that area in order to avoid potential losses.

Smarter Property Valuation with AI

AI-powered tools such as automated valuation models (AVMs) use machine learning algorithms to evaluate a property’s value based on various hundreds of factors such as location, size, age, and other characteristics. This enables real estate investors to get accurate and reliable property valuations and make better investment decisions.

For example, an AI tool like ( Estater Meter) can analyze a vast amount of data, such as historical property prices, recent sales data, and demographic information, to provide a more accurate estimate of the property’s value.

The AI-powered valuation tool can factor in various features of the property and its surrounding location that may impact its value, such as proximity to schools, shopping centers, public transportation, and crime rates. By analyzing these factors, the AI tool can provide a more comprehensive and accurate valuation of the property.

Enhanced Customer Experience with AI in Real estate 

 AI-powered virtual assistants can provide real-time customer support and help investors address their queries and concerns promptly. This can improve the customer experience, increase customer satisfaction, and build stronger relationships with investors.
For example, a large real estate company with hundreds of clients would use an AI virtual assistant loaded with lots of answers and suggestions to help customers.

Can AI provide Personalized Investment Recommendations?

AI can provide personalized investment recommendations based on an investor’s financial goals, risk tolerance, and investment history, making it easier for investors to find properties as per his requirements. AI will reduce the efforts that need to be put in to find a suitable property or location.

For example, Mohamed wants to invest in real estate. AI algorithms can analyze Mohamed’s investment preferences based on his past income, the type of properties he has shown interest in, his online search history and his risk tolerance level. The AI can then recommend properties that align with Mohamed’s investment preferences.

How AI Detects Fraud?

AI algorithms can also detect fraudulent activity, such as fake property listings or false claims by potential tenants. Ruling out fraud or duplicate listings would be easier with the help of predefined algorithms. This can reduce the risk of deception for real estate investors.
For example, AI can use Natural Language Processing (NLP) techniques to analyze text data, such as emails.
For example, AI can identify certain keywords or phrases that are commonly used in fraudulent messages, such as “urgent” or “act now.” Or use Behavioral Analysis if a user suddenly logs in from a different location or device, the AI may flag this as potential fraudulent behavior.

The Avenues Mall

March 21, 2023 | Estater, Kuwait Real Estate, Retail Sector | No Comments

Kuwait’s The Avenues mall is a prime shopping center that has quickly become a destination for both local and international brands. The mall is well known for its excellent shopping experience, first-rate facilities, and diverse entertainment options. The Avenues is the largest shopping mall in Kuwait and one of the largest in the GCC region. The mall is located in Al Rai neighborhood, which is connected by the Fifth Ring Road on the south and Al Ghazali Street on the north.

The mall has several distinct sections such as 1st Avenue, 2nd Avenue, Prestige, Grand Avenue, etc.. Several national and international restaurants and shops, including those serving British, French, Dutch, Turkish, Swiss, and Arabic cuisine, can be found in the mall. The mall has the first Carrefour in Kuwait, and offers great dining at upscale outlets including P.F Changes and The Cheesecake Factory. Also, there are all the amenities like ATMs, restrooms, children play area, open seating area etc. Here’s a quick rundown of what you can expect from your visit to Kuwait’s The Avenues Mall.

  1. Shopping in The Avenues: With over 1,800 retail stores spread across three levels, the Avenues Mall is a shopper’s paradise. There’s something for everyone, from high-end luxury brands to low-cost fashion options. Local and international labels are available, including well-known brands such as Chanel, Gucci, Zara, H&M, and many more.
  2. Food & Beverages in The Avenues: The Avenues Mall’s food court is a popular destination for foodies, with a variety of options to choose from. You’ll find everything from fast food chains to upscale restaurants offering international cuisines. Whether you’re in the mood for sushi, burgers, or Italian food, it’s all available here.
  3. Entertainment Places in The Avenues: The Avenues Mall is more than just a place to shop; it’s got great places to have fun. There are several entertainment options available, including two cinemas, bowling alley, virtual reality games, and arcade games. There is also a children’s play area, making it an ideal destination for families.
  4. Amenities in The Avenues: The mall is designed for comfort and convenience, with amenities such as clean restrooms, prayer rooms, and plenty of seating areas. There is also plenty of parking, both indoor and outdoor.

Interesting Facts About Avenues Kuwait:

1.  Estater estimates that the total Gross Leasable Area (GLA) of Avenues is more than 350,000 m2. This makes The Avenues the largest mall (outside Dubai) in the GCC region.

2.   Fashion, Shoes, and Accessories stores account for 26% of GLA.

3.   IKEA, Carrefour, and CenterPoint that are key anchor stores account for about 11% of total GLA.

4.   Starbucks occupies nine units in The Avenues Mall.

5.   There are over 10,000 parking spaces in total.

Visit The Avenues Entertainment Places for a Memorable Experience

The Avenues offers a variety of entertainment options for visitors of all ages. Here are some of the fun and exciting destinations you can find in The Avenues:

  1. Magic Planet in The Avenues Mall – Magic Planet is an indoor amusement park located on the first floor of the mall. It offers a range of rides, games, and attractions, including a roller coaster, bumper cars, and arcade games.
  2. KidZania in The Avenues Mall – KidZania is an interactive children’s theme park located on the first floor of the mall. It allows children to explore different careers and role-play different jobs in a fun and educational environment.
  3. Bowling Alley in The Avenues Mall – The Avenues also has a bowling alley, which is a great place to hang out with friends and family.
  4. Cinema & Theatres in The Avenues Mall – The Avenues Mall in Kuwait houses two cinemas. One of the popular cinemas in The Avenues is the Cinescape, which offers a range of movies from different genres. The Cinescape is located on the first floor of the mall, and it has multiple screens with seating capacity of over 1,000 viewers. There is Vox Cinemas, which is located on the first floor of the mall. Vox also offers a range of movies and has multiple screens. Both Cinescape and Vox offer comfortable seating and state-of-the-art technology for an enjoyable movie-watching experience. They offer snacks and refreshments for movie-goers to enjoy during the movie.

Shopping at The Avenues Mall

Fashion, Shoes, and Accessories stores account for 26% of GLA in the Avenues Kuwait. While looking for a variety of goods and services in one convenient location, The Avenues Kuwait is the top choice. This upscale mall features everything from clothing stores to electronics stores and home appliances. Customers can expect ease and quality from their shopping experience at The Avenues Kuwait, which offers more than 150 international brands.

From fashion accessories like handbags and shoes to groceries like fresh fruits and vegetables, you will undoubtedly find something to suit your budget and taste preferences. Furthermore, by participating in ‘The Avenues Rewards Program,’ visitors receive special discounts on select purchases as well as extra points every time they shop, allowing them to save money while exploring various outlets within the mall complex itself! Some of the big shopping stores in The Avenues are:

  1. IKEA in The Avenues Mall – IKEA is a Swedish furniture and home décor retailer with stores all over the world, including Kuwait. The store sells a wide range of furniture, home decor, and household items that are both functional and fashionable. IKEA’s most popular items include beds, sofas, chairs, tables, kitchen cabinets, lighting fixtures, and textiles. Furthermore, IKEA in Avenues Kuwait has a restaurant where customers can enjoy Swedish-inspired food and beverages. For a fee, the store also offers delivery and assembly services.
  2. Carrefour in The Avenues Mall – Carrefour in the Avenues Kuwait sells a wide variety of goods, including groceries, household items, electronics, appliances, clothing, and other items. The hypermarket is well-known for its right prices and frequent sales, making it a popular shopping destination for both locals and expats alike. The hypermarket is open seven days a week, from 9:00 a.m. to 12:00 a.m., and is located on the ground floor of the Avenues Mall, with easy access from the mall’s entrances and parking lots. Customer service has been praised as friendly and helpful, with employees going above and beyond to ensure customers have a pleasant shopping experience. In addition, their store is conveniently located within the mall complex, making it accessible from anywhere. Customers’ value when they shop here is further increased by their loyalty programme, which rewards customers who accrue points based on purchases made at other stores and can avail discounts on subsequent purchases. Carrefour continues to provide one of the greatest shopping experiences in The Avenues Kuwait thanks to its fantastic advantages for both locals and visitors looking for high-quality items at affordable prices.
  3. CenterPoint in The Avenues Mall – CenterPoint in the Avenues Kuwait offers a wide range of products, including clothing, shoes, accessories, cosmetics, and home goods. The department store is known for its trendy and fashionable merchandise, catering to both men and women. The departmental store is open seven days a week, with operating hours from 10:00 am to midnight and is located on the ground floor of the Avenues Mall, and visitors can easily access it via the mall’s entrances or parking lots.

Enjoy Delicious Cuisine at The Avenues Kuwait – Cafes, Fine & Bistro Dining

The Avenues Kuwait is a well-liked spot for dining, shopping, and entertainment, offering a variety of cuisines to suit all preferences and price ranges. Let’s look at The Avenues Kuwait’s cafes, fine dining, and bistro options for dining.

Cafes in The Avenues Kuwait:

  1. Starbucks in The Avenues Mall – Starbucks is a popular coffeehouse chain that serves a variety of coffee, tea, and snacks. The cosy atmosphere and delicious coffee make the cafe a popular spot for catching up with friends or taking a quick break.
  2. Caribou Coffee in The Avenues Mall – Caribou Coffee is another coffeehouse chain that sells coffee, tea, and bakery items. The cafe’s welcoming atmosphere and friendly service make it an ideal spot for a casual chat or a quick caffeine fix.
  3. Paul in The Avenues Mall – A variety of mouth-watering pastries, bread, and sandwiches are available in the French bakery and cafe known as Paul. The cafe is a wonderful choice for a relaxing breakfast or a mid-afternoon snack because of its exquisite decor and delectable food.

Fine Dining in The Avenues Kuwait:

  1. The Cheesecake Factory in The Avenues Mall – The Cheesecake Factory is a popular American restaurant that offers a range of pasta dishes, burgers, and, of course, cheesecakes. The restaurant’s elegant decor and attentive service make it a perfect place for a fine dining experience.
  2. P.F. Chang’s in The Avenues Mall – P.F. Chang’s is a Chinese restaurant that combines Chinese and American flavours. Signature dishes at the restaurant include Mongolian Beef and Chang’s Spicy Chicken.
  3. Le Pain Quotidien in The Avenues Mall – Le Pain Quotidien is a French bakery and café that sells organic bread, pastries, and sandwiches. The restaurant’s inviting atmosphere and tasty cuisine make it an excellent choice for a relaxed fine dining experience.

Bistro Dining in The Avenues Kuwait:

  1. Fauchon Cafe in The Avenues Mall – A variety of delightful French pastries, sandwiches, and salads are available at the Fauchon Café in France. The café is a great choice for a casual eating experience because of its stylish atmosphere and great food.
  2. Elevation Burger in The Avenues Mall – Elevation Burger serves organic burgers, fries, and shakes in a fast-casual setting. The restaurant’s dedication to employing high-quality food and environmentally sustainable processes makes it a popular choice among health-conscious guests.
  3. Bouchon Bakery in The Avenues Mall – A variety of exquisite pastries, sandwiches, and salads are available at the bakery and cafe known as Bouchon Bakery. For a quick snack or casual dinner, the cafe’s welcoming ambiance and helpful staff make it a great choice.

Overall, the Avenues Mall in Kuwait is a must-see for anyone looking for a fun shopping and entertainment experience in Kuwait. It’s the ideal place to spend a day with its diverse retail, dining, and entertainment options. 

Overview of the Kuwait Real Estate Market and its Investment Opportunities

For many investors, investing in Kuwait’s real estate is a lucrative option, but it comes with its fair share of risks. For maximising returns and optimize risks, it is essential to understand various important elements while investing in this market. Here are the macro drivers of real estate in Kuwait:

Oil Prices have Outsize Impact on Real Estate Returns in Kuwait

The oil price has direct impact on the macro-economic growth and on real estate returns. High oil prices like what is witnessed in 2022 and 2023 allow the Government to invest in infrastructure and creates demand for private sector. This results into employment growth and in turn pave ways for healthy returns from real estate.

High Disposable Income of Kuwaiti Families Create Solid Demand Base

Kuwait has one of the highest per capita incomes anywhere in the world. This creates a solid base for real estate demand across all sectors.

Availability of Vacant Lands in Kuwait is a Supply Side Constraint

While the overall size of Kuwait is substantial for its population size, the urbanized land (especially for commercial properties) remains in short supply. This shortage of land is a key reason for high real estate prices that is the most important factor governing the returns from real estate. The Government is mindful of this and has taken several steps to correct it in the last 10 years but a lot more is required before the shortage is fully addressed.

Political Instability Hampers Kuwaiti Government’s Ability to Undertake Bold Economic Reforms

The frequent political instability in Kuwait curtails the Government’s ability to initiate bold economic reforms in the country that can create long term growth potential. The private sector in the country is very enterprising and is capable of competing with global companies if it is given right policy environment. Private real estate companies have already done several landmark projects such as The Avenue Mall, 360 Mall, Al Hamra Tower, etc. that show they are capable to developing the best properties in the region.

No Tax on Income or Capital Appreciation in Kuwait

Unlike most countries in Europe, America or Asia, Kuwait does not have any income tax or wealth tax. This allows investors to enjoy tax free returns from real estate.

Despite many challenges, the Kuwaiti real estate sector offers promising returns to investors. Kuwait’s population has grown by around 5% per annum over the last 10 years; this growth has benefited Kuwait real estate market, making it one of the most lucrative markets in the Gulf region.

Key Factors to Consider When Investing in Kuwait Real Estate Market

It’s crucial to consider several factors when investing in Kuwait real estate. These include property location, supply and demand equation, potential rental yields and capital appreciation, legal and regulatory environment, etc.

You may make wise investment decisions and maximise your returns by doing thorough research and keep yourself up to date with the market conditions. If you’re considering investing in Kuwait real estate market, read on to understand how to maximize your returns:

Choosing a Right Location and Neighbourhood:

It is one thing to keep repeating the term “location” when considering real estate, it is another to define your objectives properly and pick a good “location”. The location of the property is essential since it can affect both the rental income and the capital appreciation. The type of property and its intended usage determine the right location. A residential property for self use need to satisfy your aspiration for social status and your daily places of commute. Another property for investment need to satisfy local market dynamics such as occupancy, prices and understanding of consumer profile. A thorough market research with comparison across several locations can help you make the right choice.

Always Estimate Rental Yield of Investment Properties:

The rental yield is one of the most crucial aspects to take into account when making real estate investments. This represents the expected rental income as a percentage of the property value. Rental yields underpin the value of all investment properties. It is important to benchmark the rental income of the subject property to the incomes of comparable properties nearby to avoid any miscalculations. At times, there are traps in the market where rental income for a property is far higher than what is available on comparable properties nearby. If such a property is bought at “unfairly high” valuation, it presents high risk of devaluation and potential losses. Rental returns in Kuwait vary according to the area, type of property, and several other considerations.

Long Term Capital Appreciation Potential of the Property:

The capital appreciation potential on a property depends on several factors such as the local physical & social infrastructure, status of the neighbourhood, accessibility to various places of interest, availability of vacant lands for new properties, etc. Detailed information on each of these factors is difficult to obtain for most consumers but Estater can help bridge this information gap easily. Information has been built up using cutting edge analysis of satellite images, yearly land development rates, type of road network in every neighbourhood, accessibility matrices for business districts, retail & entertainment, etc. Consumers can benefit tremendously from this information base and create a real estate portfolio that can generate substantial long term capital appreciation.

Real Estate Inventory Demand and Supply:

Knowing the current market dynamics of inventory, demand and supply of properties is critical when making investment decisions. Quality information can help you avoid making bad choices and reduce the risk of potential losses. Real Estate sector has traditionally suffered from lack of transparent data however, the situation is changing rapidly with several PropTech companies (such as Estater) now working to provide timely and quality information to real estate investors. Modern technology of artificial intelligence, data science, remote sensing and GIS applications allow dissemination of market information fast to its users.

Manage Your Property Financing To Avoid Pitfalls of Rising Interest Rates:

While investing in Kuwait’s real estate market, having a suitable financial plan is crucial. A suitable financing plan doesn’t mean high leverage…on the contrary it needs to be adjusted based on type of property. A rental income generating property has high ability to cover financing payments and thus, the leverage can be higher. On the contrary, a vacant land or self-use properties does not generate any income and thus, requires you to cover the financing from other income sources (such as employment or business). The world in 2023 has high inflation and high interest rates; in such conditions the property values often decline and thus, any short term investments for speculation can be very risky.

Maintaining & Managing the Property:

It is crucial to have a detailed property maintaining and management plan to increase its shelf life and improve its value. Investors should be aware of all expenditures related with property maintenance throughout its ownership period. These may include utility bills, facility management, cleaning, periodic repair and maintenance, etc.
Prior to purchasing a piece of land or a building, you should conduct due diligence to ensure that you understand what kind of maintenance is required. Having a property management systems in place from the start may go a long way towards ensuring everything goes smoothly.

Real Estate Legal and Regulatory Environment:

Before investing in real estate, it’s important to understand the legal and regulatory environment. Make sure you have a good understanding of the laws and regulations surrounding property ownership, rental agreements, management obligations, etc. There are many properties for which where freehold ownership is not available but these may offer excellent returns. Locations such as Shuwaikh Industrial, Freezone, etc. have commercial properties on 50 year lease from the Government. These properties are very high in demand and offer high rental yields.

How Estater Helps You on Maximizing Returns in Kuwait Real Estate Market?

Estater have detailed and comprehensive data on different real estate sector in Kuwait that can provide intricate details in these trends.

  1. Market insights: Inventory build-up and occupancy trends.
  2. Location analysis: Market gaps and retail catchment analysis.
  3. Competitor Benchmarking: Estater can help businesses understand their competition and make strategic decisions.
  4. Financial Modelling: Estater can provide you highly flexible financial model which can be easily modified based on your inputs.
  5. Leasing Trends: Lease rate and tenant mix analysis.
  6. Demographic analysis: Combining retail sector data with demographics of the areas, Estater can help businesses understand their target audience.

Consultancy: We offer consulting services for many aspects of real estate reports, such as financial modelling, benchmarking, demographic analysis, catchment analysis, and so on. Our Estater Meter and Market Intelligence solutions will provide you with customised results depending on your preferences.

Retail Sector in GCC

February 27, 2023 | Retail Sector | No Comments

Understanding the Retail Sector in GCC

The retail industry in the GCC region is a dynamic and constantly evolving sector. With the rise of e-commerce and changing consumer preferences, the retail market in the region is facing new challenges and opportunities. In this article, we will delve into the current trends and developments in the retail sector in GCC locations and their implications for retailers and consumers.

Why Retail sectors are important in GCC regions?

The retail industry is a vital sector in the GCC (Gulf Cooperation Council) region and plays a crucial role in the region’s economic development. Here are some reasons why the retail industry is important in GCC regions:

Retail Sector on a High Growth Path in the GCC Region:

The retail sector in the GCC region has been growing rapidly in recent years, driven by expanding population, high disposable income, and a rising standard of living. The region’s retail market is dominated by a few large players, such as Saudi Arabian conglomerate Al-Futtaim Group, Al Shaya Group of Kuwait and the UAE-based Majid Al Futtaim. Between them, these large players have more than 50 large retail malls and hundreds of retail franchise brands. Additionally, there are many smaller players and international companies operating in the region. The GCC retail sector is expected to grow between 9 and 10% annual growth between 2022 and 2026, Saudi Arabia is expected to lead this growth over the next five years, accounting for more than half of the total growth.

High Levels of Disposable Income of GCC Families:

The GCC region has high per capita incomes due to its vast oil and gas reserves and low population base. This leads to a high level of disposable income that often range from USD 100,000 to 150,000 per annum. Such high annual incomes allow families to spend on a variety of items including on luxury goods and services. Many GCC countries have favourable tax environment, with no or low taxes on personal incomes. This improves the disposable incomes of families.

Rapid Modernization of the Retail Sector in the GCC:

In recent years, the GCC retail sector has undergone significant modernization, owing to a combination of factors such as evolving consumer preferences, stiff competition among property developers to attract shoppers and technology improvements. Retailers in the Gulf Cooperation Council (GCC) region are adopting omnichannel approach to retailing, which entails integrating their online and offline channels to provide customers with a seamless shopping experience. This includes strategies like click-and-collect, which allows customers to buy products online and pick them up in-store. To improve customer experience and operational efficiency, they are investing in new technologies such as artificial intelligence, machine learning, and big data analytics. Some retailers, for example, use AI-powered chatbots to provide customer service, whereas others use big data analytics to personalise the shopping experience.

International Brands and Luxury Retail in GCC:

Most international retail brands have significant presence in the GCC region. Additionally, there is an ever growing list of local brands that are providing best in class goods and services to consumers. GCC has a large and affluent consumer base and the retailers are capitalising on it by concentrating on luxury retail. High-end brands like Gucci, Louis Vuitton, and Chanel have scores of stores in the region, and malls like The Avenue Mall, Riyadh Park Mall, Dubai Mall and the Mall of the Emirates have become luxury shopping destinations. By the end of 2023, the GCC luxury market is expected to be worth nearly $12 billion, with international brands eyeing to take a large slice of this. According to government spending data, local consumers are spending 45% – 65% of their luxury spending in-country post the travel inhibitions post Covid 19 pandemic; online sales have also increased significantly since 2019. Luxury fashion brands have been developing local strategies to attract consumers in the GCC region; key new players are Al Tayer Group, Etoile Group, AW Rostamani Group, and The Estee Lauder Companies Inc.

E-commerce in GCC:

The rise of e-commerce is another factor contributing to the growth of the GCC retail sector. While online shopping in the region is still in its early stages, it is expected to grow rapidly in the coming years as more consumers become acquainted with the concept and retailers invest in e-commerce platforms. E-commerce growth has transformed the retail sector in the GCC region. Consumers are increasingly shopping online, and retailers are making significant investments in their online systems to meet this demand. E-commerce platforms like Amazon, Souq, Noon, etc. have grown in popularity in the region, allowing consumers to buy products from the comfort of their homes.

Government Support to Retail Sector in GCC:

Governments in the Gulf Cooperation Council (GCC) region have actively supported the development of the retail sector through initiatives such as the establishment of free trade zones, the construction of new infrastructure, and the implementation of favourable regulations. The GCC countries have taken a number of steps to assist the retail sector, particularly in light of the economic impact of the COVID-19 pandemic. They’ve announced stimulus packages to help businesses, including the retail industry. For example, the government of the United Arab Emirates (UAE) announced a 100 billion dirham ($27.2 billion) economic stimulus package that includes measures to help businesses, including retail. Governments of some GCC countries have also offered rent relief, waived or reduced fees, and announced tax relief measures for businesses, including retail. For example, the government of Bahrain has announced a six-month rent waiver for all tenants in government-owned properties, including retail shops; the government of Saudi Arabia has announced a three-month waiver of some commercial and industrial fees; and the government of Oman has announced a temporary reduction in corporate income tax rates for small and medium-sized enterprises (SMEs) in the retail and hospitality sectors.

Increase in Regional Tourism and Its Impact on Retail Sector in GCC:

Over the years, the GCC region has seen a significant increase in regional tourism, with many countries including the UAE, Saudi Arabia, and Qatar, investing heavily in their tourism industries. This expansion has had a significant impact on the GCC retail sector. The rise in demand for luxury goods is one of the most significant effects of increased tourism on the GCC retail sector. Many wealthy visitors to the region want to buy high-end luxury items such as designer clothing, jewellery, and watches. The retail industry has responded by establishing more luxury stores and boutiques in popular tourist destinations such as Riyadh, Dubai, Abu Dhabi, and Doha. Shopping malls in the GCC have become popular tourist destinations, with many of them offering a variety of shopping, dining, and entertainment options. This has increased mall footfall, which has resulted in increased sales for retailers. As per Arabnews, retailers have reported higher turnovers due to inflation rises and consumers increasing spending on necessities, leading to consolidation among major players such as Walmart Inc. and Amazon Inc.

Diversification Of GCC Economies to Retail Sector:

Historically, GCC countries have relied on their oil and gas industries for economic growth and development. However, many of these countries have recognised the need to diversify their economies in recent years to reduce their reliance on oil and gas. The retail trade sector is one that has received a lot of attention for diversification. The retail sector is seen as a potential area for economic diversification in the GCC for several reasons. For starters, the region is home to an increasing number of affluent consumers who are increasingly interested in shopping for luxury goods and experiences. Second, because the GCC countries are strategically located between Europe, Asia, and Africa, they are appealing to international retailers looking to expand their footprint in the region. Third, the rise of e-commerce and digital retailing has opened up new channels for retailers to reach customers in the GCC and beyond. Many GCC countries have implemented policies and initiatives aimed at attracting and supporting retail businesses to encourage economic diversification towards the retail sector. They have, for example, streamlined the process for establishing new retail businesses, provided incentives for retailers to invest in the region, and built modern infrastructure and transportation networks to support the sector’s growth. The retail sector in the GCC region is a diverse and rapidly growing industry that is expected to continue to expand in the coming years.

How Estater helps on retail sectors in GCC locations?

Estater have detailed and comprehensive data on retail malls in the GCC region that can provide intricate details in these trends.

  1. Market insights: Inventory build-up and occupancy trends.
  2. Location analysis: Market gaps and retail catchment analysis.
  3. Competitor Benchmarking: Estater can help businesses understand their competition and make strategic decisions.
  4. Leasing Trends: Lease rate and tenant mix analysis.
  5. Demographic analysis: Combining retail sector data with demographics of the areas, Estater can help businesses understand their target audience.

One of the key worry for the real estate sector in the current Covid19 pandemic is its impact on the retail sector. While the retailers are worried about the impact on their sales, owners of retail malls and plazas are concerned about the impact on occupancy and lease rates. These two are closely interlinked and this blog creates a small analysis to address this.

Estater estimates that Kuwait by the end of 2019 has around 5.14 million m2 of retail space spread across hundreds of properties. Of this, around 16% is in Grade A retail malls such as The Avenues, 360 Degree, Salhia Complex, Marina Mall, Gate Mall, etc. The remaining 84% includes all the souqs, coops, retail properties in Shuwaikh, Al Rai, Dajeej and hundreds of retail plazas across the country. The occupancy ratio for this entire space is around 90% with average lease rate estimated around KD 14.9 per m2 per month.  

As the theory of retailing shows, a retailer pays anywhere between 7% to 20% of its gross sales as rental to sustain its business. The percentage varies mostly within this range across different cities in the world, different properties and for different shops within each property. Central Statistical Bureau of Kuwait carries out household expenditure survey every five years. The last such survey was done in 2013; before that in 2008. The total expenditure and its breakup for Kuwaiti and non-Kuwaiti households is shown in the table below.

Table 1: Monthly Expenditure pattern 2008-2013 in Kuwait

Using suitable growth rates in line with economic growth between 2013 and 2019, the chart below shows our estimates of monthly household expenditure in 2019. Average monthly expenditure by a Kuwaiti household was KD 3,7091 in 2019 and KD 750.8 by a non-Kuwaiti household.

Chart 1: Monthly Household Expenditure on All Items

Not all this expenditure is done in retail properties; spending on health, education maintenance of houses, etc. is all outside retail properties. Note that spending on “housing, water, electricity, gas and other fuels” alone account for 46% of Kuwaiti household expenditure and 38% non-Kuwaiti household. Using suitable matrix, we have estimated the monthly spending of Kuwaiti and non-Kuwaiti households in retail malls. This is shown in the chart below.

Chart 2: Monthly Household Spending in Retail Properties

Based on our estimates for different spending items, we have projected decline in household retail spending for the year 2020 and 2021. We have accounted for 14% decline in 2020 and another 2% in 2021. Note that most of the retail properties (barring the essential items) are closed for one and half months due to lockdown; this alone can lead to around 8-10% decline in the year 2020. Therefore, 14% decline over the full year due to economic difficulties is very much possible. 

In 2019, there were 310,442 Kuwaiti households and 502,508 non-Kuwaiti households (as per data of Public Authority for Civil Information). Multiplying their respective monthly retail spending, we get KD 6.52 billion as annual spending in Kuwait in all retail properties.

With total 5.14 million m2 retail area with average lease rate of KD 14.9 per m2 per month. This means that the retail properties receive KD 922.3 million as rental payments every year. This represents 14.2% of the rental spending.

Table 2: Estimates of Household Spending in Retail Properties Kuwait (2019)

The retail space will undergo some expansion as a number of properties are already under construction (such as Assima Mall, 360 Degree Outlet Mall, etc.). Over this time period, number of households will also increase due to their natural growth.

We believe that the ratio of rentals to retail spend will decline substantially over the next two years as the retailers will not be able to afford the same rental levels as before. We project (refer to the chart below), the ratio will decline from 14.2% in 2019 to 13.0% in 2020 and further to 12.5% in 2021.

Chart 3: Projected Trend for Retail Space and Rentals as % of Retail Spending

Keeping in mind all factors such as decline in the rental to retail spend ratio, increase in households, decline in retail spending, we have projected that the rental income of all properties in Kuwait is expected to decline to KD 722.8 million in 2020 (from KD 922.3 million in 2019) and further to KD 690.2 million in 2021. This decline could be the combined effect of higher vacancy and lower lease rates.

We also project that the average lease rate will fall to KD 11.1 per m2 in 2020 and to KD 10.4 per m2 in 2021. This is 25.7% decline in the average lease rate in 2020 and another 6.4% decline in 2021.

Chart 4: Projected Trend for Rentals and Average Lease Rate (per m2)

The rate of decline will vary considerably across locations and across property types. However, suffice to say that the retail space sector is looking at more than 30% decline in average lease rates over the next 18 – 21 months.

The drop in the lease rentals will also lead to substantial decline in retail property valuations. In the first year itself, the combined effect of drop in income and increasing risk premium in the market can lead of substantial devaluation in retail properties. This will present a challenge to the banking sector as many of the retail properties are mortgaged.

Estater (part of REMI) is the largest real estate intelligence platform in Kuwait and Bahrain. With wide raging database on properties across all sectors, Estater use sophisticated Geographical Information Systems and data science to map and predict real estate market behavior.

With the outbreak of Covid19, the Governments in the GCC region, rightly so, introduced several lockdown measures. These tough measures adopted by the Governments will have considerable impact on real estate values. In such times when markets will be full of rumors, we bring some historical perspective.

During 2008 – 2009 period, the region saw severe impact of global financial crisis. While the origin of the financial crisis was totally different from the current Civid19 crisis, the market conditions are similar and therefore comparable.

Based on the comparison of thousands of transactions of houses between 2007 and 2013, we show in Chart 1 that the average prices of private houses decline by 1.6% in 2008 (over 2007) and further by 16.5% in 2009 (0ver 2008). In total the house prices declined by 17.9% before these started gradually improving. By 2011, the average house price was higher than the house prices in 2007.

Without doubt the price behavior varied a lot from location to location. Some locations posted decline of more than 30% also; however, the overall trend was as shown in Chart 1.

Chart 1: Average Transaction Prices for All Kuwait

Chart 2 shows the comparison of transactions of residential investment properties across Kuwait. The average price increased somewhat in 2008 but declined sharply by 27.7% in 2009 (0ver 2008).  Once again by 2011, the average investment property prices were higher than the prices in 2007 and 2008.

Chart 2: Average Transaction Prices for All Kuwait

The real estate market is likely to react negatively to the economic shock of Covid19 and the property values will most likely decline. Many real estate market conditions are different in 2020 than these were in 2008. However, the two charts above put things in perspective as to how much decline can be expected and for how long the prices will remain low.

Estater (part of REMI) is the largest real estate intelligence platform in Kuwait and Bahrain. With wide raging database on properties across all sectors, Estater use sophisticated Geographical Information Systems and data science to map and predict real estate market behavior.