CYENS Centre of Excellence and Wire Services Ltd today announced that the companies have entered into a collaboration agreement to develop digital twins for the real estate market in Cyprus and Greece

NICOSIA, Cyprus, March 28, 2022 /PRNewswire/ -- CYENS Centre of Excellence and Wire Services Ltd today announced that the companies have entered into a collaboration agreement to develop digital twins for the real estate market in Cyprus and Greece. Both parties will leverage CYENS' geospatial and geo-analytics services, in combination with WIRE FS property analytics, valuation, and risk modelling platform, to digitalise real estate for insurance and financial sectors.

 "Our Geo-Analytics, AI-empowered Data-as-a-Service (GEO-AI-DaaS) approach supports a pivotal moment in the evolution of property evaluation by expanding the ability to target and verify the structural parameters of buildings, land use changes, proximity to amenities and other points of interest, to provide meaningful and accurate risk scores and building quality ranking at scale," said Dr Olga Shvarova, the Chief Innovation Officer at CYENS.

"It is a great momentum in the history of real estate, when the use AI allows to valorise the real estate market more effectively, and realistically, while considering environmental risks and climatic changes and their impact on properties", said Dr Andreas Kamilaris, the Leader of SuPerWorld Multidisciplinary Research Group at CYENS.

"We are thrilled that CYENS will be joining forces with WiRE FS to move forward the development of digital twins for all buildings within a country, which will bring additional transparency to the real estate market. WiRE FS will benefit greatly from deep expertise of the CYENS team as well as from further strategic partnership we are working on to develop a similar solution for the Balkans region", says Pavlos Loizou, Managing Director at WIRE FS.

ABOUT CYENS Centre of Excellence

CYENS Centre of Excellence is the Research Centre of Excellence in Cyprus focusing on Interactive media, Smart systems and Emerging technologies aiming to empower knowledge and technology transfer in the region. It is a joint venture between three public universities - University of Cyprus, Cyprus University of Technology, and Open University of Cyprus, the Municipality of Nicosia, and two renowned international partners, Max Planck Institute for Informatics, Germany, and, University College London, United Kingdom.

ABOUT WIRE FS

WiRE is a PropTech company developing the digital twin of all properties in Cyprus (and beyond), offering insights and data analytics to real estate investors, banks, and insurance companies. Digital twins can be linked with transaction, pricing, and environmental data, giving insights to consumers, and allowing financial institutions and insurers to identify opportunities, manage risk, and leverage online sales channels.

Media contact: Andreas Psaltis, Partnerships Manager email: a.psaltis@cyens.org.cy, +357 22747575

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