Square Yards Registers 75% Growth In International Property Biz
Gurugram, 09 January 2019: India’s largest PropTech player, Square Yards, today announced that its international property business, which facilitates the sale of overseas properties in their respective locations; recorded over 75 percent growth in 2018 over the previous year crossing Rs 1100 crore in gross transactional value (GTV).
The Company also announced strong growth in all other segments of the business it operates in namely India Primary, NRI and Mortgages and registered an overall impressive GTV of Rs 5,000 crore for the calendar year 2018.
Dubai led the pack of international cities that contributed significantly to the GTV of the company followed by Toronto and Melbourne. Square Yards has built up significant NRI operations in 13 international cities namely Abu Dhabi, Doha, Dubai, Kuwait, Sharjah, Hong Kong, Muscat, Melbourne, Singapore, Sharjah, Sydney and Toronto. The company has also established strong local primary operations in Dubai, Melbourne, Toronto and Sydney.
“The year 2018 marked a new milestone in our journey with international property division scaling new heights. We have been replicating our Indian playbook for sourcing off-plan primary inventory and tech led demand generation in the overseas markets and are happy that it is bearing results. Our international operations have scaled up significantly in 2018 with sizeable addition to our teams and formidable network of agents. The segment contributed ~22% of both revenues and GTV for the year 2018. We look forward to building on these strengths and set new benchmarks in global real estate transactions space, apart from our Indian operations, in 2019,” said Tanuj Shori, Founder and CEO, Square Yards.
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