This article is from the Australian Property Journal archive
AS governments and industry navigate need for increased housing supply and the impacts of climate change, ASX-listed digital property exchange platform Pexa Group has acquired a 100% stake in Australian environmental risk data analytics company, Land Insight.
Land Insight is a Sydney-based start-up that quantifies and evaluates natural hazards, pollution, and ground hazards, helping government, organisations such as banks and financial institutions understand the environmental risks in relation to land and property, via access to data modelling and insights reports and an emerging data-as-a-service (DaaS) subscription model.
Pexa Group managing director and CEO, Glenn King, said the acquisition of Land Insight would open up new growth opportunities in the climate resilience market for PEXA, helping customers prepare for the increasing impacts of climate change on land use.
“The impact of climate change is driving increased demand for data use in managing and mitigating climate risk. However, there are currently limited opportunities for our B2B and B2G customers to acquire this data at scale, given the fragmented nature of the industry,” he said.
“Pexa will leverage Land Insight’s deep technical capabilities to provide customers with robust and accurate climate risk data so they can assess and respond to the increasing impacts of natural hazards on the use and value of land.
Managing director at Land Insights, Ana Ouriques, welcomed the opportunity to be backed by the Pexa Group and was bracing for rapid growth.
“With the support of Pexa’s deep industry expertise and connections – we can accelerate Land Insight’s path to commercialisation for the benefit of the industry and continue our advocacy as the true honest brokers in a complex and critical sector that is the engine room of the economy,” she said.
A year ago, Pexa Group acquired a 70% stake in Value Australia, which together with the Australian Property Institute recently signed a new cooperation agreement to foster technology advancements, solutions and standards for the valuations industry.
That followed Value Australia announcing plans to accelerate a large-scale, world-first pilot program to demonstrate its unique machine learning technology that aims to revolutionise the property valuation process nationally.
