Juwai IQI, the real estate tech startup, claims it has turned profitable as of July, reports Tech in Asia (26 November 2020). The company said that the number of transactions conducted on its platform grew by 55% this year over the same period in 2019. Capitalizing on its recently-launched portal - Juwai.asia - Juwai IQI extended its online reach to cater to Asian consumers outside of China which accounted for 30% of total buyers in the third quarter. “We believe our technology-enabled model will disrupt and replace conventional online real estate classifieds portals, which are inefficient for all participants,” said co-founder and executive chairman Georg Chmiel. “Ultimately, we are addressing markets with a combined revenue opportunity of US$115 billion, consisting of both sales commissions and advertising fees.” A report by MarketsAndMarkets expects the global real estate technology market to reach US$8.9 billion by 2021.