NEW YORK: Gulf Tech News
Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data (“EO”) collection, announced today that it has signed an agreement with Quant Data & Analytics (“Quant”), a leading Saudi provider of Data & AI Products and Enterprise Solutions focused on the real estate and retail sectors. This strategic agreement leverages Satellogic’s high-resolution satellite imagery to serve and evolve the ever-expanding property tech landscape across the Kingdom of Saudi Arabia and the Gulf region.
Quant’s collaboration with Satellogic will lead to the development of derivative products, transforming and broadening the adoption of data science, AI, and SaaS products for real estate and retail. Satellogic’s flexible and scalable business model will support Quant’s Suhail platform, an interactive real estate tool for agencies, developers, and clients. The agreement will empower the Saudi Arabian and Gulf region’s real estate and retail sector by delivering AI solutions and unparalleled insights, accuracy, and efficiency for driving growth and enhancing decision-making processes.
Ahmed Bukhamseen, CEO of Quant Data & Analytics, stated, “Our collaboration with Satellogic marks a momentous advancement in data analytics for our region. The integration of high-resolution satellite imagery with our AI and geospatial technologies elevates our interactive real estate platform, Suhail, and Location Intelligence tool powered by Fruits360 to unprecedented levels. This strategy resonates with our vision of a data-driven global economy and fulfills our goal to spread, implement, and automate data-led solutions.”
Caitlin Kontgis, Satellogic’s Senior Vice President of Commercial and Growth, added, “Quant is redefining the future of real estate and retail, creating opportunities for evolving processes such as property valuations and insurance underwriting. They needed an Earth Observation data provider capable of delivering high capacity, high resolution, and frequent revisits at an attainable price. This relationship illustrates the potential of Satellogic’s Earth Observation business model.”
This collaboration is timely, coinciding with increased Saudi government investment in infrastructure to stimulate tourism, residential, and commercial real estate developments. Leveraging Satellogic’s high-resolution EO satellite constellation, the agreement will enable monitoring of rapid urban development and compliance with environmental and zoning regulations, enhancing competitiveness in the high growth market.
By harnessing the power of satellite imagery, Quant is laying the foundation for a futuristic approach to data-led development, monitoring, and decision-making. This collaboration promises to be a game-changer in utilizing big data to make transformative impacts on real estate, retail and beyond.
