India's 1st Listed PropTech Homesfy Forays into the International Market with A New Office in Dubai

Mr. Kiran Mhatre, Mr. Ashish Kukreja and Mr Mukesh Mishra

Mumbai-based Homesfy Realty Ltd., India’s first listed real estate tech-enabled brokerage firm, has expanded to Dubai. In the fourth quarter, Homesfy’s facilitated transaction value in India increased by 51%, which showcases the company’s remarkable growth.

As part of its strategic expansion plans, Homesfy seeks to broaden its horizons globally, with Dubai being its first port of call. Homesfy sees tremendous potential in the Dubai real estate market in the coming years. Its unparalleled network of tech-enabled agents will help achieve success in Dubai.

The impetus behind Homesfy’s expansion into Dubai stems from the highly auspicious growth curve of the Dubai real estate market. This 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.

In 2022, the Dubai real estate market experienced a massive upswing in sales to Indian buyers, raking in an impressive sum of ₹35,500 crores, almost twice the amount generated in the previous year. Of this total, Indian home buyers accounted for a notable 40%, positioning them as the leading buyer demographic in Dubai. These buyers mainly hail from major Indian cities such as Delhi-NCR, Ahmedabad, Surat, and Hyderabad and Punjab.

Mr. Ashish Kukreja, Founder & CEO, Homesfy. in, said, “Homesfy Realty Ltd. continues to ride the wave of success. We are thrilled to announce our latest endeavor of expanding our global footprint, with Dubai as the launchpad. 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 has consistently been a methodical real estate brokerage platform composed of highly imaginative sales, engineering, business, and marketing experts. Each of their products effectively bridges the trust deficit between home buyers and sellers through a refined and sharp approach.

The sales division in Dubai will be spearheaded by Mr. Mukesh Mishra (Head of Sales at Homesfy.in), a seasoned professional with insights into both domestic and international sales.

Mr. Mukesh Mishra, Head of Sales at Homesfy.in, said, “Despite volatile conditions and shifting consumer behavior, Dubai’s property market experienced record-breaking sales, volume, and value in 2022. Dubai has seen record-level demand in residential spaces in February 2023, and with an expected growth of 20% in the coming years, it has the potential to break all records. With a decade of experience in the Indian real estate market, we are ready to pitch in Dubai.”

Mr. Kiran Mhatre, Head of Sales - Dubai, who has over 20 years of experience, will also play a key role in the new territory alongside Mr. Mukesh Mishra.

Homesfy’s expansion to Dubai will undoubtedly provide Indian and international investors with a gateway to the booming Dubai real estate market, which has emerged as a beacon of growth and opportunity in recent years. The city will continue to attract HNIs and expatriates, asserting its position as a major real estate market.

About Homesfy

Homesfy.in, India’s first listed real estate firm, is one of the fastest-growing companies in the full-fledged, organized real estate industry. With over 400+ motivated team members spread across Mumbai, Pune, Delhi NCR, and Bengaluru, the firm partners with reputed builders in the country to facilitate their real estate sales. Founded a decade ago, Homesfy has been the preferred channel partner for builders and developers such as Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra, to name a few. In the last financial year, Homesfy collaborated with more than 106 developers.

PropTech Firm, Homesfy.in, Raises $1.1 Mn from Marquee Investors Led by Girish Gulati, Ahead of Planned SME IPO

Mr. Ashish Kukreja, CEO & Founder with Team of Homesfy.

Funding will support the firm's expansion across multiple cities in India and fructify its plans to enter international markets

A fast-growing company in the real estate broking sector, Homesfy Realty, has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.

The company is planning to list on the Indian bourses and has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge. The proceeds from the proposed offering will be used by the company for its Working capital requirements, General corporate purpose, and organic growth, the firm said in a statement.

"Real estate is poised to be a $1.5 trillion industry in the near future. As real estate developers consolidate market share via launches and construction velocity, they need the right partners to drive sales. Through the use of proprietary technology tools, rigorous processes, and talented sales agents, Homesfy simplifies the home-buying experience and is positioned to lead the channel partner sales for all major developers across India," said Girish Gulati, who is a veteran investor in the public equity markets. Gulati has led many small companies to scale while supporting them through his large network and ample experience.

“Buying a home for personal use or as an investment continues to be a popular choice in the country. Due to the pandemic, even the reluctant youth has realized the advantages of investing in hard assets. This, coupled with the regulatory framework coming into the real estate sector through RERA, has paved the way for a growing interest in real estate transactions. We, at Homesfy, started our journey with the aim to simplify the home-buying process. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers,” said Ashish Kukreja, Founder & CEO at Homesfy.in & MyMagnet.io.

Currently, Homesfy is headquartered in Mumbai and has an operational presence in 4 cities in India including Pune, Bengaluru, and Delhi NCR. With a team strength of nearly 400 employees, the firm partners with all reputed builders in the country to facilitate their real estate sales. The company has recently initiated the process of acquiring EQServ, a Mumbai-based real estate broking firm that has been facilitating residential property sales for category A+ developers across the city.

Founded a decade ago, Homesfy quickly became self-sufficient and expanded to facilitate bookings totaling Rs 1,650 Cr on its platforms in the last financial year.

About Homesfy:

Homesfy Realty is a leading real estate brokerage platform with a presence across the top 4 cities in India. Homesfy has endeavored to spur the real estate industry towards value-added professional service where trust and confidence meet convenience and transformational business transactions.