Digital assets to be part of future real estate business

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Rishabh Mehra
MD, Yokeasia Malls

The prudence of investing in real estate has been under a scanner and it is in this scenario that investing in digital estate is taking shape. Every business needs a website today and one needs to buy a domain name to create it. The domain that you buy is your digital asset. The price of the domain ranges from Rs 99 to even Rs 1 crore. You can even sell it at a higher price after purchase. So the fact that a digital asset can be bought and sold has already been accepted by all.

Almost 30 per cent space in a physical mall is sold virtually. Even some of the office spaces allocated are not with a lock and key. The area is not demarcated and you get monthly returns for that. The resale value of that virtual space depends on the return that you get.

There is no denying that technology and business is redefining conventional brick-&-mortar business models across the globe. As we all are aware, today latest technologies have helped the consumers change the way they go about their daily lives, be it hiring a cab, renting a bread-&-breakfast or buying a mobile and foodstuff. With latest handsets and tablets and a faster internet connection came a new wave of platforms that drove people away from brick-&-mortar to online stores that promise better experiences and prices.

While technology has come into all phases of our life, one part, however, where it is to make a big bang is real estate – a segment habitually connected with grimy developers, dense contracts and smooth-talking hustlers. For years, the segment has been eclipsed by rogue developers profiting at the cost of the common investors and a possessions cycle that turns quicker than an iPhone liberate often leaving hapless investors standing in a musical chair. Despite all of this, real estate business has survived well due to people wanting to acquire physical assets.

Considering all these factors Yokeasia Malls Private Limited is coming up with Asia’s first online mall Digital Mall of Asia (DMA), that will make online shops selling and renting possible. At initial stage, DMA will be operational in cities, such as, New Delhi, Noida, Gurugram, Ghaziabad, Faridabad, Mumbai, Bengaluru, Hyderabad, Chennai, Coimbatore, Ahmedabad, Lucknow, Bhubaneswar, Mysore, Mangalore, Pune, Chandigarh, Dehradun, Jaipur and Ludhiana, and will soon make its presence felt in countries like China, Japan, South Korea, Singapore, Malaysia, Thailand and Indonesia.

The upcoming mall will make 3D experiential e-commerce in India possible. The effects of using 3D virtual shopping malls facilitate the user interaction and experience. Technological developments and the use of the internet-induced users to expect better services might help them to improve their experience.

We are now in the world of Augmented Reality (AR) where the virtual world meets the real world. Using a 3D virtual environment and adding a shopping idea to it is considered an interesting concept, especially if it reflects the real world in a virtual reality and makes its users engaged. Furthermore, the possibility of representing themselves in a computer-mediated virtual environment help users to explore the virtual environment which wasn’t possible a couple of years ago.

Eventually, DMA will offer cross-cultural and multi-geographical access through technology cutting nationalities. For example a person from New Delhi can access and experience Dubai Mall online. The innovative concept of digital malls wherein one can buy and rent e-shops will add a new dimension to investment options.

 

  • Almost 30 per cent space in a physical mall is sold virtually. Even some of the office spaces allocated are not with a lock and key. The area is not demarcated and you get monthly returns for that.
  • There is no denying that technology and business is redefining conventional brick-&-mortar business models across the globe. Latest technologies have helped consumers change the way they go about their daily lives.
  • Yokeasia Malls Private Limited is coming up with Asia’s first online mall Digital Mall of Asia (DMA), which will make online shops selling and renting possible.
  • The upcoming mall will make 3D experiential e-commerce in India possible. The effects of using 3D virtual shopping malls facilitate the user interaction and experience.
  • We are now in the world of Augmented Reality (AR) where the virtual world meets the real world. Using a 3D virtual environment and adding a shopping idea to it is considered an interesting concept.