Square Yards acquires Singapore-based realty advisory LUXE Real Estate

Real estate advisory firm Square Yards has acquired a Singapore-based property advisory firm LUXE Real Estate in an undisclosed all-cash transaction, the company said in a release.

This acquisition will enable Square Yards 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 release added.

Earlier this month, Square Yards has announced acquisition of online discovery portal realizing.in.

LUXE Real Estate 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 Square Yards' project portfolio of global projects from Mongolia, Bulgaria, Australia, Malaysia, UK, USA etc, the company 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," said Kanika Gupta, Head of Asia IPM and COO at Square Yards.

The entire team of LUXE will join Square Yards as agents with its Key Executive Officer,Calvin Chao, as Director - International Projects Marketing in Singapore.

Square Yards has already announced its plan to expand global reach to 20 destinations in the next two quarters and is also looking for global alliances in other global markets.

SOURCE: THE ECONOMIC TIMES