The 50:50 joint venture with Ikonic International combines the Sawarthia Group’s established business foundation with XOTO’s AI-powered platform to scale broker-led property and mortgage solutions across the UAE.

Dubai, UAE | 29 October 2026: XOTO, a Dubai-based AI-driven PropTech platform focused on simplifying property transactions and mortgage processes, has announced a strategic 50:50 joint venture with Ikonic International, part of the Sawarthia Group. The partnership marks a significant milestone in XOTO’s growth journey, bringing together the strength of an established business group with a technology platform designed to address critical inefficiencies in the UAE’s real estate market.

For XOTO, the joint venture represents more than a strategic investment. It provides a strong business foundation, established market relationships and the backing of a group with a proven track record of building and scaling businesses in the UAE. The collaboration comes at a time when technology-enabled solutions, faster financing and greater transaction transparency are becoming increasingly important to the region’s dynamic property market.

With business roots dating back to 1979 and a presence in Dubai since 2004, the Sawarthia Group has built a diversified portfolio spanning multiple sectors. Ikonic International, established in 2018 and part of Sawarthia Group, operates across mobile phone distribution, motorcycle leasing and last-mile delivery, limousine services, agribusiness, wealth management and bullion trading, with reported annual revenues exceeding USD 3 billion in aggregate annual turnover across the wider Sawarthia Group business network.

This established business foundation, combined with Ikonic International’s operational expertise and network, provides XOTO with a strong platform to pursue its ambitions in the UAE’s real estate sector.

Bringing AI, financing and property transactions onto one platform

The joint venture will focus on equipping property brokers with technology that addresses some of the most persistent challenges in the transaction lifecycle, including mortgage eligibility assessments, lender comparisons, application tracking, property discovery and commission visibility.

XOTO’s integrated platform enables brokers to assess prospective buyers’ mortgage eligibility within seconds, compare financing options across multiple banks and track applications through the process. Combined with access to live property listings and centralised deal management tools, the platform is designed to reduce operational friction, improve visibility and allow brokers to focus more on client relationships and conversions.

A key differentiator is XOTO’s ambition to go beyond being another property technology platform. By combining AI-powered capabilities with the reach and relationships of the broker community, the company aims to create a connected ecosystem that makes property transactions more efficient for brokers, buyers and other stakeholders.

As part of its immediate expansion plans, XOTO is targeting 400 partner brokers across the UAE by the end of December 2026. The joint venture is expected to strengthen its market reach, build broker adoption and support the wider deployment of its AI-led solutions.

Nikunj Sawarthia, Managing Director of Ikonic International, said:

“Our strategic partnership with XOTO reflects our commitment to supporting technology-driven businesses with meaningful long-term growth potential. Drawing on the wider Sawarthia family business legacy dating to 1979, Ikonic International brings operational experience and established market relationships to this venture. Together with XOTO’s AI-led platform, we aim to create practical value for the UAE’s broker community and build a scalable, sustainable real estate technology business.”

Hirdeyjeet Singh, COO, XOTO, added

“Our ambition is to create a meaningful differentiation in the real estate market by bringing AI, technology and the broker ecosystem together. Rather than simply digitising existing processes, we are building solutions that help brokers work smarter, respond faster and convert opportunities more efficiently; from identifying a buyer’s mortgage eligibility to managing the transaction journey. We believe the real strength of this model lies in combining intelligent technology with the reach, experience and relationships of brokers and agents. Ikonic International, drawing on the wider Sawarthia Group business network, brings a strong business foundation and valuable market access that can help us scale this vision and build a more connected, efficient real estate ecosystem across the UAE.”

Engaging the UAE broker community

To introduce its capabilities to the wider brokerage community, XOTO will host an exclusive broker engagement session at Capital Club, Dubai, on 16 October 2026. The event will provide attendees with an opportunity to explore the platform and experience a live demonstration of XO Bot, XOTO’s AI-powered solution designed to support brokers in navigating mortgage and property transactions more efficiently.

The session will also mark an important step in XOTO’s efforts to build a collaborative broker network, demonstrate the practical value of AI in everyday brokerage operations and accelerate adoption of technology-led services across the UAE property market.

With the backing of Ikonic International, part of Sawarthia Group, XOTO is positioning itself to bridge the gap between real estate expertise and technology; building a scalable, broker-centric platform for the next phase of the UAE property market’s evolution.

For more information on Xoto, visit their website: www.xoto.ae

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