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01 July, 2019
360 Realtors has announced that US-based company Risa Realty has already been acquired by them, with an aim to selling Indian properties in the American market. A target sale of total 750 crores has been set by them by 2020. With this move, Gurugram-based company 360 Realtors is set to enter the property market of the US and set up new offices in the major NRI-centric markets, of which mention may be made of New York, Chicago, Los Angeles, Boston, San Francisco, Washington and so on.
It has been stated by the MD and CEO of the mentioned company that the founders of Risa Realty have been quite active in the market for more than a decade and will also be able to provide a dominant position in order to provide the NRI markets with their Indian real estate requirements. Not only this, the acquisition will surely make way for 360 Realtors to have a better understanding of the US market along with formulating a strong and effective strategy for proper market penetration.
However, the benefit is two-fold and this way, it can also be said that Risa Realtors will be able to gain access to the state-of-art technology. They can also tie up with the leading Indian developers with extensive manpower and not to mention, eradicate their geographical limits. It must be mentioned that the financial details of the present deal have not officially been disclosed yet. While 360 Realtors has set a target of 750 crores, Risa Realtors has sold properties worth 250 crores in the last year.
360 Realtors, which has over 50 offices in India has made a total growth of 46% in revenue, during the time period of the previous financial year. To judge and evaluate in value terms, around 30 per cent of the sales actually come from non-resident Indians, mostly from the Middle-east regions. During the time period of 2019-19, the company is known to have sold more than 4000 units of property which is worth of 2682 crores.
Risa Realty have an expertise of the real estate market of the US NRI market and their association with a reputed brand like 360 Realtors will result in the appropriate utilization of their resources, they are sure to expand their horizon within the market of USA. It needs to be mentioned specially that 360 Realtors is known to give a strong competition to most of the well-known organizations in the current market of organized property brokerage business and has successfully come under the umbrella of the real estate (Regulation and Development) act.
Uttar Pradesh RERA: UPRERAAGT10868
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New Delhi : DLRERA2019A0057