Mumbai-based Homesfy Realty, India’s first listed real estate tech-enabled brokerage firm, has announced its expansion to Dubai, following an impressive 51% increase in transaction value in India during the fourth quarter. The company’s move into Dubai is driven by an increased interest among Indian homebuyers in purchasing property in the city.
According to a statement issued by the company, Homesfy seeks to broaden its horizons globally, with Dubai being its first port of call. “Its unparalleled network of tech-enabled agents will help achieve success in Dubai,” the statement said. Homesfy believes there is tremendous potential in the Dubai real estate market in the coming years, with the growth curve of the market serving as the impetus for the expansion.
“The growth is attributable primarily to the path-breaking policies adopted by the UAE government, which have been instrumental in driving a positive impact across the real estate industry,” company sources said. In recent years, the Dubai real estate market has experienced massive expansion with an upswing in sales to Indian buyers, raking in an impressive sum of Rs 35,500 crore, positioning Indian homebuyers as the leading buyer demographic in Dubai, accounting for 40% of total sales.
Homesfy Founder and CEO, Ashish Kukreja, stated, “Dubai’s progressive governance and trade policies and massive worldwide appeal has made it a popular destination among both real estate buyers and investors, and we aim to capitalize on this opportunity.” Homesfy Realty’s expansion to Dubai is part of its strategic plan to expand globally.
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