- Opens its first office to accelerate international growth
National, Oct 29, 2018: Proptiger.com , part of Elara Technologies Pte Ltd, which also owns Housing.com and Makaan.com, launched its international operations by opening its first overseas office in Dubai to grow its residential property intermediation business there. The company’s strategic international expansion marks an important milestone in its journey and comes on the back of a strong 7-year track record of helping customer’s buy over $2.2 billion worth of residential properties across India.
Starting with Dubai, the company plans to expand across other parts of the UAE as well as to GCC countries and beyond, over the next 3 years. The current team of 15 people will operate from the company’s offices in the Business Bay area of downtown Dubai. Over the next 3 years, the company plans to serve customers across the Middle East with a strong team of over a 100 people.
Commenting on the expansion Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com, and Makaan.com, said, “PropTiger.com has established itself as the trusted home buying partner for customers across India. We see great opportunities in the UAE market. It is a dynamic region with an enormous potential and a large presence of the Indian diaspora. I am excited about developing a new team of people and taking our expertise to new markets.”
Bhaskar Bagchi, Chief Business Officer, PropTiger.com said, “PropTiger.com has built a very strong Non Resident Indian (NRI) customer base over the years. The NRI business contributes almost 20% of our revenues and our goal is to double this to 40% over the next 3 years by establishing our presence across geographies with significant presence of the Indian diaspora.”
Bhaskar Bagchi, Chief Business Officer, PropTiger.com further added, “With the recent depreciation of the Indian currency, India is an even more attractive destination for real estate investment and so I believe that this is the perfect time for us to take this business overseas, and help customers worldwide in buying homes via a professional and trusted channel.”
The United Arab Emirates is home to close to 3 million Indians, of which the majority lives in Dubai, Abu Dhabi and Sharjah. These customers contribute to a third NRI home purchases in India. There is a huge unmet demand for professional property advisory services for these people who buy homes both across various Indian cities as also in Dubai. PropTiger.com aims to fulfil this demand using its technology driven home discovery and transaction fulfilment services, which has helped thousands of customers in India to buy their dream homes.