Square Yards plans expansion
Square Yards, the tech-backed transaction and aggregation platform for global real estate, is looking to expand both geographically and vertically over the next one year after registering a robust performance this year with over 11,000 deals, said a top company official.
The company is in the process of expanding to the Netherlands, Bahrain and Kuwait by the first quarter of 2018, adding to its current portfolio of 10 countries. It also plans to start new verticals for agency businesses, secondary transactions and property management in multiple markets across the globe.
In 2017, Square Yards posted 84% on-year rise in gross revenue of about $28 million for a period between January and December. The company has closed around 11,000 deals across real estate and mortgages business, logging a growth of 116% year-on-year.
“This was our third successive year of almost 100% growth in most of the key metrics. The healthy performance in 2017, despite big-time reforms like GST & RERA that caused disruption in the market, is on account of all our business verticals including real estate, mortgages and the broker aggregation,” said Tanuj Shori, CEO of Square Yards.
“Going forward, we will continue to build on our leadership and expand to newer geographies, while innovating in our existing markets,” he said. On the technology side, Square Yards registered velocity with new ERP platform, improved broker aggregation platform; ramp-up in digital demand generation, and also launched dedicated property portals for the UAE, Canada and Australia markets in 2017, he said.