Square Yards expands international play through a new property portal for cross border real estate investments

Online-to-offline (O2O) real estate transaction player Square Yards has introduced an international property portal to enable global cross border real estate investments, in what the company claims to be a first for an Indian real estate startup. Square Yards has acquired multi-country real estate licences and is entering into collaborative arrangements with leading international developers for exclusive cross-border marketing & selling rights.

The portal will open up over 400 properties across 7 countries including UAE, USA, UK, Australia, Singapore, Canada and Hong Kong to Indian and global citizens. The portal offers data, research and investment scores that rate international cities of various parameters such as rental yields, capital appreciation, price, etc.

Square Yards has partnered with various realty developers such as Dubai-based Emaar Properties, Deyaar, Damac Properties as also the Berkeley Group in UK for exclusively sourced properties. “In some cases, these are exclusive contracts and in others it is preferred inventory that we get at special rates, which no other realty player does,” CEO Tanuj Shori told ET.

The company clocks 10-12% of its revenues from its international portfolio which currently includes property search for NRIs looking to buy into India. Through this new international play that involves global markets and its global agent network building initiative, Square Yards is looking to increase the revenue share from international business to 30% by FY18-end. “We are building a global network of agents on a commission-based system. We are looking to onboard 8000-10,000 agents,” Shori said. The international business is the fastest-growing and profitable business for the real estate player.

Square Yards – which has raised $33 mn so far from the private equity arm of Anil-Ambani led Reliance Group and a clutch of HNIs including L’Occitane CEO, Andre Hoffman – is targeting a gross transaction value of $1 billion by 2017-end from the current $600 mn it claims to achieve. The company maintains it is EBITDA positive and claims an annual revenue run rate of $20-25 mn.