Breaking news

Placy: Cyprus-Born AI Assistant Transforming Real Estate

by THEFUTURE.TEAM

June 7, 2024

In a significant development for the real estate industry, Placy, a Cyprus-born AI assistant, has been launched to revolutionise the sector. Conceived by industry veterans Sergey Osipov, Mike Vasiliev, and Alex Alexeev, Placy aims to simplify and enhance the real estate market with advanced AI capabilities. This innovative tool provides personalised, insightful guidance to real estate professionals, streamlining operations and improving efficiency.

The Genesis and Vision

Placy was developed with a deep understanding of the challenges faced by the real estate market. The creators envisioned an AI-powered solution that transcends traditional property portals, providing real-time, actionable insights. According to Vasiliev, “The time for property portals is over. The next decade is all about AI co-pilots.”

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Functionality and Impact

Placy leverages AI to analyse property listings, state registries, and social media, delivering comprehensive information in multiple languages. This capability allows real estate agents to automate up to 50% of their tasks at a fraction of the cost. As Sotiris Komodromos, Placy’s Chief Commercial Officer, explains, “The objective is to automate 50% of the real estate agent’s tasks at 25% of the cost, safeguarding the profession while creating the instruments for the realtor of the future.”

Placy Pro, an advanced version of the assistant, supports agents by reducing their working hours through ongoing automation. This tool is designed to handle various aspects of real estate transactions, from understanding local regulations to identifying ideal properties for clients, making it an indispensable asset for modern real estate professionals.

Strategic Advantages and Future Prospects

Launching from Cyprus offers unique advantages, including an open market, an enthusiastic community, and high commission rates. Osipov’s extensive local market knowledge, gained over nine years in Cyprus, further enhances Placy’s potential for rapid adoption and success.

Placy’s introduction heralds a new era in real estate, where technology and human expertise converge to create a seamless, efficient experience for all stakeholders. As the industry evolves, AI assistants like Placy are poised to become integral to real estate operations, driving innovation and efficiency.

In summary, Placy represents a significant leap forward for the real estate industry, embodying the future of AI-driven solutions. Its creators are poised to lead this transformation, making Placy an essential tool for real estate professionals in Cyprus and beyond.

The Future Forbes Realty Global Properties

Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.