and Cape Town is developing new , gamechanging tools and systems to transform the property management industry .
50 Years & Counting ! MRI has been a trailblazer in the PropTech industry for over five decades , serving more than two million users worldwide . Its roots in the South African market started in 1991 , with a small software company called MDA . From simple beginnings the company grew significantly , redeveloping MDA ’ s original MS-DOS-based systems multiple times to eventually lead the South African market , with approximately 6,000 users and more than 70 percent of South Africa ’ s listed real estate investment trusts ( REITs ) using the company ’ s software .
In 2017 , MDA was acquired by MRI , a global leader in real estate management solutions , and began a huge investment drive into the market . In 2018 , acquiring the largest competitor , Propsys , the company tripled in size from a team of 35 to 100 people supporting markets within EMEA with a broad set of products tailored to the needs of landlords , investors , agents , and residents .
Today , MRI sees its South African contingent as a key player in growing the company ’ s global reach . MRI is continuing to invest in the South African market , growing jobs , building its local team and capabilities , and encouraging innovation and development within the region .
Supporting South African Real Estate Firms to Scale
MRI Managing Director Mark Fairweather joined the business in 2016 , and now shares his experience of MRI ’ s journey from a local start-up to a regional and global powerhouse . He draws a parallel between MRI ’ s progression and the journeys taken by many of their clients .
“ A key differentiator for MRI is that we support our clients from the very smallest end of the scale , right up to the very top . We have the capability to scale with our clients from a small firm with 20 leases up to a market-leader with 50,000 leases in their portfolio .”
“ Our global reach gives us the power to invest in future technology stacks and bring them to the South African market quickly . We ’ re able to bring new technologies to the market and offer solutions that just wouldn ’ t have been possible without MRI ,” He says .
Leveraging AI Insights to Fuel Industry Growth
MRI
“ Our global reach gives us the power to invest in future technology .”
One such innovation is the use of artificial intelligence within MRI ’ s pool of digital solutions . MRI Contract Intelligence is an AI-powered data extraction tool , which automates the contract review process and helps property management businesses to reduce the risk of costly revenue leakage and gain valuable insights hidden in documents .
An entity that has seen the real benefits from MRI ’ s work regarding AI is Equites Property Fund Limited , a Real Estate Investment Trust ( REIT ) specialising in developing and acquiring world-class logistics assets .
In the process of analysing their resource usage , Equites discovered that a disproportionate amount of company
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