MUMBAI: Real estate startup Square Yards on Thursday announced the launch of an International property portal (global.squareyards.com) for enabling global cross border real estate investments.
This is notably the first and only portal by any Indian tech startup focusing exclusively on global real estate.
Square Yards is already the largest player by revenues (annual revenue run rate in excess of USD 25M) in the Indian real estate and has a virtual monopoly in some of the key NRI diaspora markets. It is now replicating its Indian success in international markets by acquiring multi country real estate licenses and entering into collaborative arrangements with leading International developers for exclusive cross-border marketing and selling rights.
“International real estate is one of the fastest growing and most profitable segment of our business. We want to invest more into it and are currently building our local agent network in each of the countries. We would gradually expand to 25+ International markets and our ambition is to get to an undisputed number 1 position for off-plan properties sold anywhere in the world,” said founder and CEO at Square Yards, Tanuj Shori.
The new international portal currently features a host of exclusively sourced off-plan properties from seven countries namely UAE, USA, UK, Australia, Canada, Singapore and Hong-Kong. Along with rich information about International projects, the portal also offers deep insights into top real estate investment destinations in the world through its proprietary Investment ScoresTM calculation methodology.
The tool rates top international cities on a combination of 21 different parameters such as rental yields, capital appreciation, price, availability, transaction costs, taxes and macroeconomic factors. The investment score, driven by powerful analytics and meticulously designed algorithms, gives a fair judgment of the inherent attractiveness associated with a particular market.
Square Yards has been on international expansion spree for past few years with a prolific presence in 10 countries. The company recently announced two consecutive rounds of fund raising.
In January it raised USD 10 million multiple investors and in November USD 12 million equity funding from the private equity arm of Anil Ambani led Reliance Group.