Gurgaon-based Squareyards has acquired Luxe Real estate, a Singapore-based real estate advisory firm. This acquisition will enable Squareyards to have direct access into the prime district areas of Singapore real estate market and catapult it into the top 30 agencies by number of agents.The entire team of Luxe will join Squareyards as agents. Also the company’s CEO, Calvin Chao, will now serve as the Director – International Projects Marketing in Singapore.
Talking about the acquisition, Kanika Gupta, Head of Asia IPM and COO at Squareyards, said, “This deal completely complements our strategy to have a dominant position in International markets. The International Project Marketing (IPM) division in Dubai has tremendous demand from countries like UK and Malaysia and improved product sourcing capabilities from global markets will only help us do more business in Gulf countries.”
Luxe is a real estate agency based in Singapore, which offers investment, marketing, sales and rental services for luxury residential and prime commercial real estate with comprehensive expertise in Australia, Hong Kong, China, Indonesia, Thailand and Malaysia.
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Commenting on the acquisition, Mr. Chao said, “I am excited to be a part of Squareyards. The global distribution strength that Square Yards is building along with the sourcing capabilities of Luxe would complement each other in building the IPM business more effectively. Cross selling portfolios to global investors is the way forward and it is only going to rise in times to come.”
Luxe Real Estate was founded by Calvin Chao in 2014. with strong domestic and international track record in luxury real estate sales and existing relationships with Singapore based developers like CDL (City Development Limited) will now be able to leverage on Squareyards’ project portfolio of global projects from Mongolia, Bulgaria, Australia, Malaysia, UK, USA etc.
Gurgaon-based Square Yards was founded by Tanuj Shori in 2013. Square Yards is a pan-India organized real estate advisory for residential properties. It has established presence in 20 cities and 5 countries across the globe within a short span of 18 months. With its excellent working relationships with more than 500 A grade developers in India, US, UK, Australia, Singapore, Malaysia, Japan, Canada, Bulgaria, Mongolia and UAE,
Square Yards has already facilitated real estate transactions in excess of $400Mn and is planning to expand its global reach to 20 destinations in the next two quarters.
Earlier this month, Squareyards also went into a merger with realizing.in. In the same space, Housing.com had recently acquired Realty BI for a sum of about $1.5Mn. Also, a few month back, a digital real estate marketing and transactions services provider PropTiger.com acquired online property listings and classifieds player, Makaan.com.