New Delhi [India], Nov 8 : Global real estate transaction platform, Square Yards has announced opening of new offices in Toronto and Vancouver in Canada.
The company has expanded its presence in 12 international cities including London, Dubai, Sydney, Abu Dhabi, Singapore, Doha, Hong Kong, Muscat and Sharjah.
Square Yards' ground presence in the Canadian market would help it tap better into the country and serve the local demand effectively. The Canada offices will also serve as a gateway to the US markets.
"Using Canada as focal point, Square Yards aims to delve deep into North American markets. Economic recovery in conjunction with higher demands has made Canada, one of the most sought after real estate markets, across the globe," said Co-Founder and COO Square Yards, said Kanika Gupta Shori.
Canada is one of the major destinations on the global real estate map, comprising of a healthy mix of international and domestic investors. The growth is led by cities such as Toronto and Vancouver, wherein capital appreciation in real estate has been in tune of 15-20 percent annually, in recent times. With a limited supply of stocks, expansion in job markets and healthy economic outlook, real estate industry is expected to further move up the curve.
The Indian diaspora in Canada is estimated to be over one million, constituting around four percent of the total population and hence offer a major market to capitalize upon.
Square Yards aims to become the de-facto channel to route NRI investment in global and Indian real estate. Since its beginning, it has enjoyed a stronghold in the NRI segment that accounts for near around 30 percent to 40 percent of its total revenue.
The total NRI investment in new launch residential units in top 8 major Indian cities is expected to be around USD 11.5 billion in 2016, as per research conducted by Square Yards. This is nearly 20 percent year-on-year (Y-o-Y) increase. (ANI)