Square Yards on an International Expansion Spree
Real Estate Start-Up, Square Yards today announced opening of new offices in Sydney – Australia & Muscat – Oman. With this the company has expanded its presence to 9 international cities, which includes international territories such as London, Dubai, Doha, Abu-Dhabi, Singapore and Hong-Kong.
Square Yards is planning to open up new international offices in Toronto and Durban in the coming time.
“Making a prolific international presence helps Square Yards to effectively cater to international markets as well as vast populace of NRIs who are interested in investing in India & other international locations. Australian markets have been appreciating at a rate ranging between 7-15% in the last 12 months with Sydney, Melbourne leading the bandwagon. The country has half million NRIs, many of whom are looking forward to invest back in India” Said Kanika Gupta Shori, COO of Square Yards.
“Similarly Oman is also a booming real estate industry on the backdrop of economic growth & job creation. Square Yards already has strong presence in Dubai, Abu Dhabi & Doha and with upcoming office in Oman, it will consolidate its dominant position in the GCC region” added Kanika.
Square Yards, with its presence in 24 cities and 8 countries has already taken a lead in the transactional real estate space. Started in late 2013 with just 3 employees, the real estate company took less than 2 years to become the largest player in primary residential real estate sales. Today the company boasts of over 1000 employees. The company recently crossed Rs 100 crores ($15 mn) in annual revenues while being EBIDTA positive – the only company in online real estate space to do so. It also registered a whopping 220% y-y growth in revenues in first half of the year FY16 (and 87% increase compared to last six month of FY15).
In conjunction with selling Indian properties, Australia & Oman will also be among the key points for the International Property Management (IPM) business of Square Yards. Besides Indian properties, Square Yards actively sells a wide range of international properties ranging from hostel accommodation, car parking spaces to international Villas in various parts of the globe.