Latest news with #RICS
ME Construction
12 hours ago
- Business
- ME Construction
Omnix announces expansion of its portfolio with integrated Digitised Construction Workflows
Technology Omnix announces expansion of its portfolio with integrated Digitised Construction Workflows By The construction sector is currently facing numerous challenges including labor shortages, cost pressures, regulatory demands, and outdated processes Omnix International has announced the expansion of its portfolio with a new suite of integrated Digitised Construction Workflow offerings. These solutions are designed to revolutionise critical workflows across the construction lifecycle by digitising them. This transformation is achieved through data intelligence, automation, and intelligent systems, ultimately leading to more efficient planning, execution, and optimisation of projects, the firm said. The strategic move to expand its portfolio in the Middle East is said to underscore its commitment to driving innovation, enhancing efficiency, and assisting clients in meeting the evolving demands of the construction industry. The Middle East is experiencing rapid urban expansion and executing significant mega projects, making the need for advanced digital solutions more pressing than ever, said a statement. The construction sector is currently facing numerous challenges, including labor shortages, cost pressures, regulatory demands, and outdated processes. Amidst these challenges, the Middle East, with its rapid urban expansion and mega projects, has highlighted the urgent need for advanced digital solutions, it added. According to RICS and McKinsey, the global construction industry continues to lag in digital adoption, particularly in areas such as ESG reporting, carbon tracking, and lifecycle management. Omnix's new offerings address these gaps by providing integrated tools that promote smarter planning, improved collaboration, and measurable outcomes. Walid Gomaa, CEO of Omnix International said, 'Our mission to digitally transform construction workflows is aimed at empowering clients to build with greater confidence, efficiency, and purpose. This marks a key milestone in our journey to deliver value-driven, future-ready solutions. Our focus on regional priorities, data interoperability, and intelligent insights will help clients reduce risk, enhance sustainability, and achieve stronger business outcomes across project lifecycles.' Alaf Abdul Latheef, Regional Business Unit Head added, 'Our offerings are built to address regional challenges with a flexible and modular framework. Leveraging cutting-edge technologies and architectural expertise, we have designed a solution that adapts to our clients' realities enhancing compliance, visibility, and collaboration without requiring a complete overhaul of existing systems.' The newly launched Digitised Construction Workflows offer centralised tendering and bid management, real time cost control and scheduling dashboards, Digital twin integration, field safety and compliance monitoring, built-in ESG and carbon analytics, AI-enhanced document and RFI management, and mobile-enabled tools for site access and task tracking, the company outlined. At the heart of the solution lies Omnix's 'interoperability first approach'. This approach is said to feature a connected layer that allows clients to retain their preferred tools while enhancing visibility, regional customisation, and cross-platform data flow. Omnix's approach prioritises plug-and-play compatibility with existing software, custom integrations that bridge data between design, construction, and operations phases, and strengthened with AI enabled data insights. Early implementations are already underway, with broader rollouts scheduled for 2025 and 2026. This phased approach enables Omnix to refine its solutions based on real-world feedback and ensure alignment with regional workflows and compliance standards, the company confirmed. Omnix's strength in the construction sector is rooted in a multidisciplinary team with expertise in BIM, project management, AI, digital twin technologies, and secure cloud infrastructure. With certified professionals in PMP, LEED, and advanced analytics, Omnix is poised to deliver scalable, future-proof solutions for the region's expanding development landscape, the statement concluded.
Yahoo
2 days ago
- Business
- Yahoo
Regulatory Intelligence Compliance Solutions Inc. (RICS) Granted U.S. Patent for AI-Powered Compliance Audit Technology
NEW YORK, June 18, 2025 /PRNewswire/ -- Regulatory Intelligence Compliance Solutions Inc. ("RICS"), a leading SaaS provider of SEC/FINRA compliance software platforms, today announced that the United States Patent and Trademark Office ("USPTO") has granted a utility patent for its proprietary Artificial Intelligence-powered compliance audit technology, Global Artificial Intelligence Auditor™ ("GAIA"). GAIA™ represents a groundbreaking advancement in compliance auditing, enabling companies across all industries to leverage technology to meet regulatory requirements with greater efficiency and lower costs. The patent covers any AI managed review, exam, assessment or audit that can be based on external legal or regulatory requirements, internal rules or policies, and/or industry-specific standards and frameworks. Unlike traditional audit methods, which are time-consuming and resource-intensive, GAIA™ autonomously schedules and executes compliance audits, and tracks and resolves compliance issues, allowing businesses to complete audits faster and with significantly reduced financial and operational burdens. Key Capabilities of GAIA™ Include: Fully Automated AI Auditing – Compliance audits are conducted from end-to-end with or without human intervention, freeing up valuable resources. Advanced AI Decision-Making – Goes beyond traditional logic-based algorithms by integrating data analysis, human reasoning, decision-making, and responsive interactions. Proactive Compliance Monitoring – Independently detects potential violations, tracks remediation efforts, and ensures corrective actions are completed. Cost and Time Savings – GAIA™ streamlines the audit process, allowing organizations to complete audits in less time and at a lower cost compared to traditional audit practices, . Cross-Industry Applications – GAIA™ can be leveraged and licensed by companies across any sector and industry to ensure compliance with external regulatory mandates, internal governance policies, and/or industry-specific standards while improving operational efficiency. "At RICS, we are committed to leveraging cutting-edge technology to redefine compliance auditing by making it faster, more cost-effective, and less resource-intensive," said Donna Sardanopoli, President and CEO of RICS. "Our patent grant for this revolutionary technology solidifies our leadership in AI-driven compliance solutions, offering businesses a scalable, efficient, and intelligent approach to regulatory adherence. RICS is aggressively seeking further and expanded protection through additional filings and looks forward to sharing the results as they become available." Paula Bosco, COO, Senior Advisor and Board Director at RICS, emphasized the company's vision for broad multi-industry adoption of GAIA™: "RICS is the first and only organization to develop and license technology in which AI itself performs a comprehensive audit, setting the industry benchmark as the original and exclusive provider of AI-driven audit execution solutions. Our goal is to provide companies across multiple industries with a transformative audit technology that not only ensures regulatory compliance, but also maximizes efficiency, reduces costs, and creates a sustainable competitive advantage by supporting employees to focus on core competencies, not repetitive, mundane tasks." The introduction of RICS' patented AI solutions and GAIA™ marks a significant step forward in the automation of compliance audits in Financials, Healthcare, Technology, Energy, Industrials, Real Estate, Utilities, and beyond by reducing operational burdens and enhancing overall risk management. By uniting the industry-leading strengths of RegTech innovation, AI and automation, GRC expertise, and enterprise SaaS, RICS delivers AI-driven audit and risk management technologies that drive digital transformation and operational efficiency across all industries at scale. About RICS Since its founding in 2008, Regulatory Intelligence Compliance Solutions Inc. ("RICS") has been at the forefront of compliance technology, helping banks and broker-dealer firms navigate the complex regulatory landscape with innovative SaaS compliance platforms. With its evolution into a leading AI-Driven Auditing & Risk Management Technology, RICS proudly stands as the first and only provider of end-to-end AI audit and risk management technologies. Our mission is to empower organizations across every sector and industry to revolutionize compliance—harnessing advanced technology to cut costs, unlock the full potential of their teams, and supercharge operational performance. With RICS, Compliance isn't just streamlined—it's transformed. For more information about GAIA™, visit or contact Paula Bosco at paulab@ View original content to download multimedia: SOURCE Regulatory Intelligence Compliance Solutions Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Average London property prices unexpectedly jumped by more than £14,000 in April
Average London house prices unexpectedly jumped more than £14,000 in April to their highest levels in more than two years. Latest data from the Land Registry showed the average cost of a home in the capital rose 2.6% during the month from £552,402 to £566,614 . That boosted the annual rate of house price inflation in London from 0.9% to 3.3%. The leap in London prices bucked the national trend in April. Across England as a whole average prices fell 3.7% to £286,327. That dragged the annual rate of house price inflation down from 7% in March to 3.5% in April. Prices were expected to ease in April after a rush to beat the deadline for new higher stamp duty rates for first time buyers on March 31. However, the discounted rates, which meant debut buyers paid no stamp duty on purchases up to £425,000, was seen as less of a benefit in London where prices are much higher. The highest average price ever recorded in London according to the Land Registry measure was the £581,320 reached in August 2022 but since then the London market has flatlined at best. It was last higher than April's figure in January 2023. But north London estate agent and a former RICS residential chairman Jeremy Leaf, said: 'It might seem as though this data shows considerable housing market resilience but it doesn't tell the whole story. "Although the most comprehensive of all the surveys as it includes cash and mortgaged transactions, the results reflect what was happening over the last few months. Since then stock levels have continued to rise, resulting in more balance between supply and demand so softening prices and lengthening transactions. "Looking forward, values are likely to continue to reduce a little inevitably as interest rates will not fall as far and as fast as many had expected as inflation stays stubbornly high despite today's small dip.' The figures show there has been a particularly big rise in prices for new build properties in London over recent months. In February, the latest month for which data is available, the average cost of a new build home in the capital leaped 19.1% to a record £595,659.
Business News Wales
12-06-2025
- Business
- Business News Wales
Increased Choice for Welsh Homebuyers as Supply Increases and Fewer New Buyers Active
The number of house sales in Wales fell at the fastest rate seen since early 2023 according to the latest Royal Institution of Chartered Surveyors (RICS) Residential Market Survey, and surveyors are cautious about the outlook. A net balance of -43% of respondents in Wales report that the number of house sales fell through the month of May. This is the lowest this balance has been since February 2023. Looking ahead, a net balance of -20% of respondents expects sales to continue to fall over the next three months. House prices are anticipated to be broadly flat in the same timeframe having risen marginally over the past three months. (A net balance of 7% of Welsh surveyors reported that house prices rose between March and May.) Regarding demand, a net balance of -7% of surveyors in Wales reported a fall in new buyer enquiries, which is a key factor in the cautious outlook. And with supply levels having seen an upturn – with a net balance of 49% of Welsh respondents noting a rise in new instructions to sell – those who are looking to purchase residential property appear to have increased choice. With regard to the lettings market, respondents in Wales report that both tenant demand and landlord instructions fell broadly flat in the most recent survey. As such, surveyors in Wales anticipate that rents will fall broadly flat over the next three months. Commenting on the sales market, William Graham, Chartered Surveyor of Graham & Co in Newport said: 'Despite little change in mortgage rates, valuation instructions have increased, and there is still a shortage of good quality well maintained houses in all prices.' On the lettings market, Anthony Filice, FRICS of Kelvin Francis Ltd in Cardiff added: 'Some, mainly older, landlords are selling up, whilst others, slightly younger, are buying some of these, adding to their portfolios. Rents have stabilised, with some landlords considering lower offers of rent.' Commenting on the UK picture, RICS Senior Economist, Tarrant Parsons, said: 'Sentiment across the UK residential property market remains somewhat subdued, with ongoing uncertainty around global trade policies and the dampening effect of transactions being brought forward ahead of the Stamp Duty changes at the end of March continuing to weigh on buyer activity. 'However, near-term sales expectations are showing signs of stabilisation, suggesting that while muted conditions may persist in the short term, a further deterioration appears unlikely. Looking ahead, the outlook is more optimistic, with respondents anticipating a gradual recovery in sales activity over the next 12 months. 'That said, the pace and extent of any improvement will partly depend on the Bank of England's ability to continue cutting interest rates.'
New Straits Times
12-06-2025
- Business
- New Straits Times
UK surveyors report weakest house price growth in nearly a year
LONDON: Britain's housing market lost more steam last month as demand faded from buyers after an increase in property transaction taxes in April and concerns mounted about global trade tensions, a survey showed on Thursday. The Royal Institution of Chartered Surveyors' monthly house price balance - which measures the difference between the percentages of surveyors seeing rises and falls in prices over the past three months - dropped to -8 in May from -3 in April, its weakest since July 2024. Economists polled by Reuters had forecast a smaller fall to -4. "Sentiment across the UK residential property market remains somewhat subdued, with ongoing uncertainty around global trade policies and the dampening effect of transactions being brought forward ahead of the Stamp Duty changes at the end of March continuing to weigh on buyer activity," Tarrant Parsons, senior economist at RICS, said. Thursday's survey chimed with other measures of Britain's property sector that have pointed to a slowdown, and Bank of England data which showed mortgage approvals dropped to their lowest in more than a year in April. While property surveyors expect to see a gradual recovery in sales activity over the coming year, Tarrant said the "pace and extend of any improvement" in part depended on whether the Bank of England continues to cut interest rates. The BoE is expected to hold interest rates unchanged next week. Financial markets were on Wednesday almost fully pricing two quarter-point interest rate cuts by the end of 2025. A Reuters poll of economists published this week also pointed to two such rate cuts. RICS' gauge of agreed home sales dropped further into negative territory. Its measure of new buyer enquiries fell to a net balance of -26 in May, slightly less downbeat than the -32 in April and March.
