CHENNAI: Square Yards, a real estate startup focussed on the NRI segment, has opened its office in Doha, Qatar. This is the startup's third office in the Gulf Co-operation Council (GCC region) after Dubai and Abu Dhabi.
The Gurgaon-based company sees massive potential in Qatar which it claims has over 500,000 Indians with nearly 30% qualifying in the Middle/ Upper-Middle Income category. Through the new office, Square Yards aims at serving the NRI clientele better who want to invest in India but lack sufficient knowledge.
Founded in 2013, Square Yards is a technology-enabled transaction and aggregation platform for global real estate. Square Yards currently transacts over 300 transactions with GTV crossing $400mn a year.
Commenting on this new office opening, Kanika Shori, COO of Square Yards, said, "The opening up of this office is an integral part of the Square Yards' strategy to capitalise on penetrating further into the NRI section living in the GCC nations. It will enable the company to focus more squarely on the NRI populace living in Qatar and introduce well-structured real estate investment deals from India, GCC and other parts of the globe to the prospective investors and home buyers."
Anupam Rastogi, head of Square Yards in the GCC and Africa region, said, "Qatar's aggressive economic expansion plans in conjunction with its preparation for Soccer World Cup 2022 is expected to bring in more qualified Indians to join the nation in the near future- indicating more opportunities."
Since its inception, Square Yards has been catering to the NRI clientele spread across the globe, through its international offices in seven countries, allowing the real estate aggregator to breakeven in 22 months.
As part of its future expansion internationally, Square Yards will soon open offices in Canada and Australia. It is also planning to open offices in Kenya, South Africa and the US.