Swedish Firm EQT to Acquire Singapore-based PropertyGuru in an All-Cash Deal

Sweden based EQT Private Capital Asia is set to acquire PropertyGuru, a leading property technology company in Southeast Asia, for approximately $1.1 billion. This acquisition will result in PropertyGuru being delisted from the New York Stock Exchange.

The deal represents a significant premium over PropertyGuru's recent share prices, reflecting the strategic value EQT sees in the company. This move is expected to bolster PropertyGuru's growth and innovation in the real estate technology sector.

On Friday today, PropertyGuru Group Limited, Southeast Asia’s leading PropTech company, announced that it has entered into an agreement and plan of merger with affiliates of BPEA Private Equity Fund VIII Limited (“EQT Private Capital Asia”), part of EQT AB, a purpose-driven global investment organization, pursuant to which the Company will be acquired by EQT Private Capital Asia in an all-cash transaction (the “Merger”) that values PropertyGuru at an equity value of approximately USD 1.1 billion.

Under the terms of the Merger Agreement, at the effective time of the Merger, each ordinary share of the Company issued and outstanding immediately prior to the effective time (other than certain excluded shares) will be cancelled and converted automatically into the right to receive an amount in cash equal to USD 6.70 per share, without interest.

The merger consideration represents a 52% premium to PropertyGuru’s closing share price on May 21, 2024, the last unaffected trading day prior to media speculation regarding a potential transaction, and a 75% and 86% premium to the Company’s 30-day and 90-day volume-weighted average share price, respectively, for the period ending May 21, 2024.

Major shareholders, TPG Asia VI SF Pte. Ltd. and TPG Asia VI SPV GP LLC, in its capacity as general partner of TPG Asia VI Digs 1 L.P. (collectively, “TPG”) and Epsilon Asia Holdings II Pte. Ltd., an entity managed by global investment fund KKR (“KKR”), which hold a combined 56% ownership of ordinary shares outstanding, have entered into voting and support agreements with the Company and EQT Private Capital Asia in support of the Merger.

PropertyGuru was founded in 2006 by Steve Melhuish and Jani Rautiainen. The idea for PropertyGuru came from their personal frustrations with the property search process in Singapore. They aimed to create a smarter, more intuitive online platform for property seekers.

The CEO and Managing Director of PropertyGuru is Hari V. Krishnan. He has been instrumental in leading the company through significant milestones, including its successful public listing on the New York Stock Exchange. Hari has over two decades of experience in technology and digital transformation, having previously led LinkedIn in the Asia Pacific region.

PropertyGuru primarily operates in Southeast Asia, including markets like Singapore, Malaysia, Indonesia, Thailand, and Vietnam1. However, it doesn’t have a significant presence in India. Instead, the Indian real estate market is dominated by local platforms like 99acres, MagicBricks, and Housing.com

EQT has been quite active in the acquisition space recently. In March 2024, EQT announced the acquisition of Equitrans Midstream, creating a vertically integrated natural gas company with an enterprise value over $35 billion. In September 2022, EQT acquired Tug Hill's upstream assets and XcL Midstream's gathering and processing assets for $5.2 billion.

In January 2021, EQT acquired 100% of the Exeter management company and a significant stake in its funds, enhancing its position in value-add real estate investing.

These acquisitions reflect EQT's strategy to expand its capabilities and market presence across various sectors.

ANAROCK Signs Up MP Housing Board For Its AI-powered CRM Suite

ANAROCK CRM now in use by over 150 developers with over 1500 projects

India's leading independent residential real estate services consultant ANAROCK Group has announced that it has signed up the Madhya Pradesh Housing Board (MPHB) for its proprietary AI-enabled customer relationship management services. The ANAROCK CRM (ACRM) suite results in a 10-fold increase in inventory sales within a couple of months of implementation.

Sadiq Din, Head - ANAROCK CRM (India & International), ANAROCK Group, says, "We are gratified to onboard our first government entity as a dedicated user of ACRM after meeting all compliances, checks and balances. ACRM currently caters to over 150 developers with over 1500 projects; in fact, we have signed up over 100 clients in the last three months alone."

"The ANAROCK CRM suite is a revolutionary innovation to ramp up housing sales in all Indian markets from tier 1 to tier 3 cities," adds Santhosh Kumar, Vice Chairman - ANAROCK Group. "From planning and execution to analysis and reporting, it allows residential sales teams to create and track campaigns, and to make informed decisions about their future marketing strategies. The data and information about customers and prospects is stored and automatically analysed to provide valuable insights that help identify trends and measure success rates."

ACRM has been designed to be the ultimate Proptech solution for real estate developers and channel partners including government agencies, who are looking for prop tech-driven tools to enhance overall sales and marketing efficiency. With specialized algorithms created specifically for the Indian real estate market environment, ACRM streamlines and automates many of the manual tasks involved in sales and marketing.

Despite its high-tech, AI-driven features, ACRM does not require its users to be technologically proficient and can be instantly and seamlessly adopted by existing sales and marketing teams. ANAROCK CRM provides hands-on training to sales and marketing teams to ensure smooth adoption and integration with existing sales campaigns.

ACRM currently manages five enquiries, 90 calls and 1.2 residential site visits every minute. A highly advanced SaaS (software as a service) system, ACRM has so far processed approximately 5 million leads, automatically managing the sales pipeline, allowing sales teams to prioritize their leads, target their marketing efforts more effectively, and track the results of their campaigns.

The automation includes lead management via follow-up emails and lead scoring, which reduces the risk of leads being lost or forgotten.

ACRM has been rolled out across the country and plans to open GCC market in next few months.

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 Platform Strata Clocks 2X Rise in Women Investors Reaching 45% of Its Total Customer Base

Earlier anticipated to be a five-year programme, the aim was achieved in just one year since its launch

Committed to creating an inclusive investment atmosphere, Strata, India's leading proptech enabling fractional ownership in commercial real estate, marked a 2X growth in the number of women investors within a year of slashing the minimum investment ticket size for women. It now has 45% women investors of its total investor base.

Last year, during the occasion of International Women’s Day, Strata launched an initiative to encourage women take active role in their investment decisions. As a part of this initiative, Strata reduced its minimum investment ticket size by 40% from INR25 lakh to INR 15 lakh for women investing on its platform. The initiative was envisaged as a five-year programme, however, the aim of increasing women investor participation in fractional ownership of commercial real estate, has been achieved in less than a years’ time. While commemorating the investment spirit and financial empowerment of women, the initiative has also been instrumental in driving awareness among investors to explore new-age alternative investment avenues.

Strata's Co-founder & COO Priyanka Rathore said, "Promoting an inclusive investment environment has always been Strata's core principle, and we are thrilled to receive such a warm response from our women investors. We applaud the courage and effort for taking a step out of their comfort zone and taking charge of their financial health.


Comprising half of the economy's population, we must focus on and create an equal podium for women investors. As a women entrepreneur, I am responsible for making efforts in this direction. Strata is committed to further curating innovative products and investment opportunities to create a more engaging and nurturing investment ecosystem for women."

Strata, as one of the leading players in this segment, is actively working to create full awareness about the first-hand participation of women in building and nurturing their financial health. Strata have constantly been raising investment awareness through different mediums to foster the sentiment of boosting India's alternative investment spectrum.

About Strata Property Management

Strata is a tech-enabled real estate investment platform that allows investors to own and sell fractions of pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets, etc. With more than 900+ Cr in AUM, over 50,000 members, and 3000 investors, it is India's leading platform for fractional ownership in commercial real estate. It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others.

Sourcing Commercial Real Estate and offering it on an easy-to-use online platform, Strata aims to democratize CRE, making it accessible for a much larger investor base, as well as bringing transparency and simplicity to CRE investments with its data-driven asset selection and single window platform to invest in assets across the nation.

https://strataprop.com/

PropTech Strata Raises INR 76 Cr for its Biggest Asset in Mumbai Metropolitan Region

• Introduces Phase II asset in MMR; to raise total of INR 170 crores in four phases
• After successful closure of Phase I, Phase II launched valuing at INR 53 crore
• Investors will earn a gross entry yield of 9.1 % p.a. and targeted IRR of 12.7% p.a.
• The phase II asset is spread across an area of 39,000 sq. ft., which is pre-leased for 6.5 years with a tenant lock in period of 5.5 years
• With this asset, Strata to cross an AUM of INR 900 crore in 2023
• This asset is expected to provide the target multiple of 2X

Strata, India’s leading proptech enabling fractional ownership in commercial real estate (CRE), has launched Phase II of its 21st asset valued at INR 170 crores. Of the total value, Strata has facilitated investors to raise INR 76 crore including Phase I & II. The asset that spans over 39000 sq.ft. is an office asset situated in Mumbai Metropolitan Region (MMR). The property will provide a gross entry yield of 9.1% and a targeted IRR of 12.7%. It is expected to provide 2X returns during the total investment tenure including rental yield and capital appreciation. It has been pre-leased for a period of 6.5 years and has a tenant lock in period of 5.5 years.

With its extreme proximity to Mumbai, this asset is strategically located in India’s largest transit oriented development landscape of Seawoods Grand Central. This landscape features a wide range of Grade-A office spaces, residences, malls and an integrated Seawoods-Darave railway station which offers easy connectivity to the entire MMR region. Navi Mumbai, is one of the largest planned townships in the country and has a well-connected national rail & road network along with an upcoming international airport. Equipped with conducive infrastructure including large corporate parks, upcoming business compounds and skilled workforce; the city is definitely one of India’s prime destinations in terms of growth.

Commenting on the launch, Sudarshan Lodha, Cofounder & CEO, Strata Property Management, said, “We are delighted to return to one of the most sought after locations of MMR with our second and highest valued asset amidst the fast paced and strategic development of the region. After successfully funding over 20 assets across the country, this 21st asset is expected to generate 2X return on investment for investors. Having said that, this asset is a perfect example of these efforts bringing a seamless combination of strategic location, high quality property and an international heritage tenant making it an optimum investment opportunity for investors looking to invest into the ambitious city of dreams.

With adding an AUM of INR One crore every day in 2022, in the new year, we aim to bring in more assets across high demand sectors like warehousing, hospitals, data centres making Strata one of the leading alternative investment platforms offering fractional ownership into CRE. We aim to reach an AUM of 1100-1200 crores by the end of this fiscal. ”

In its efforts to encourage retail investment in Grade A, state of the art commercial properties in India, Strata has launched multiple premium assets across Mumbai, Bengaluru, Chennai, Hosur, Jaipur, Hyderabad, Pune, etc.

Strata, since its inception has been continuously striving towards creating a strong new asset class of fractional ownership in India, thus democratising the high end, limited access CRE investment. Due to these efforts, Strata has successfully proven to win the stanch confidence of over 50000 users and 2500+ active investors. With approximately 25% of NRI investor base, Strata is helping encourage foreign investment in Indian real estate. Strata is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.

About Strata Property Management

Strata is a tech-enabled real estate investment platform that allows investors to own and sell fractions of pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets, etc. With more than 700+ Cr in AUM, over 35,000 members, and 2000 investors, it is India's leading platform for fractional ownership in commercial real estate.

It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others.

Sourcing Commercial Real Estate and offering it on an easy-to-use online platform, Strata aims to democratize CRE, making it accessible for a much larger investor base, as well as bringing transparency and simplicity to CRE investments with its data-driven asset selection and single window platform to invest in assets across the nation.

https://strataprop.com/

Tech-enabled Construction Aggregator Wehouse Expands To Chennai, Primed To Build Dream Homes For Customers

The expansion plans are long-term and embodies an overarching strategy to amplify revenues, increase team size and foster more partnerships

Tech-powered construction aggregator company, Wehouse, is pleased to announce that it has launched a new center at the gateway of South India, Chennai. The new center is nestled at Old No. 16, New No. 24, Club Road, Shenoy Nagar, Chennai 30, opposite the swimming pool. The company is expecting an exponential revenue boom of 620% after the successful expansion endeavor.

The Hyderabad-based construction company has initiated their territorial expansion on the right note as 84–120 projects await Wehouse’s intervention in the city for successful completion and handover. The objective is to accrue a built-up area of five lakh square feet by March 2023. In sync with the expansion plans, the company is also looking to amplify the team size by hiring more than 100 employees and fostering strategic partnerships with more than 500 partners by March 2023, respectively.

Wehouse is a tech aggregator platform that facilitates end-to-end construction services helping their customers to build their dream homes. The platform takes care of the legal permissions, architectural structural design, construction execution to interiors and monitoring services.The startup intends to simplify the construction process by bringing together all entities involved in the home-building phase. One of the company's unique advantages is that it offers e-monitoring, which enables customers to check the progress of work and material consumption online. It also provides a surveillance-secured project site to prevent theft and damage, photos and videos of work, and notifications to communicate work progress throughout the project. Wehouse is established on the 4T idea, which stands for Transparency, Time Saving, Tracking, and Adoption of Technology. The company has touched the milestone number of completing 1 million square feet of built-up area as of now.

Articulating his thoughts on the expansion endeavors undertaken, Mr. Sripad Nandiraj, Co-Founder and CEO of Wehouse, said, “Expansion is the heartbeat of a corporate body. We, at Wehouse, always prioritized a lean working model and very calculated checkpoints that ascended us to the next level. With our new center in Chennai, we can now call two major cities in India home for Wehouse as we look at the road ahead for further expansion. In alignment with our operational and territorial aspirations, we are also looking to amplify our teams and create resourceful business relationships with various partners in the construction industry. The comprehensive blueprint for expansion considers many facets that we’re looking to build upon in a phased manner. This expansion endeavor pushes us closer to our northstar, which is to be the sought-after construction tech-aggregator for completing every dream home in India."

About Wehouse

Wehouse is a tech-powered construction aggregator platform that facilitates end-to-end construction services, helping their customers build their dream homes. The platform takes care of the legal permissions, architectural structural design, construction execution, interiors and monitoring services. The startup intends to simplify the construction process by bringing together all entities involved in the home-building phase. 

Wehouse is established on the 4T idea, which stands for Transparency, Time Saving, Tracking, and Adoption of Technology.Founded in 2017, the foundation behind Wehouse’s pioneering proptech framework is to reform the way construction is currently being done. The platform enables customers to build their homes from scratch by connecting them to the best partners in the construction industry. By pooling the best partners, they are creating the most seamless platform that can assist in the construction of dream homes for its patrons. The spearhead leading the helm at Wehouse is Mr. Sripad Nandiraj, as the Founder and CEO. Under the industrious team, the company has been able to successfully complete 200+ projects and has a built-up area of 1 million square feet.

Manifesting an overarching attitude, Wehouse presents a very project-agnostic stance. The company’s trailblazing bouquet of offerings truly demonstrates a one-stop-shop for all construction concerns and requirements. The stack of services includes residential construction, commercial construction, assistance in project management, assiduous architecture and structuring, and interior designing and styling smart homes. All of this is orchestrated through the best aggregated partners available on their platform.

The philosophy ingrained within Hocomoco is to reform the construction journey of their customers. The company employs a tremendously transparent workflow where a five-point process is followed. This process entails understanding client requirements, mapping costs, providing scheduled visits for the project owners, smooth work execution, and hassle-free delivery. Client satisfaction is central to the company’s being, therefore an e-monitoring facility has also been integrated within the platform. This feature enables customers to check the progress of work and material consumption online. It also provides a surveillance-secured project site to prevent theft and damage, photos and videos of work, and notifications to communicate work progress throughout the project.

The company’s vision is to become India’s largest one-stop integrated tech-based construction aggregator platform for all residential building requirements. Sitting squarely at the intersection of technology’s merger with proficient construction aggregation, Wehouse is providing the right quality for the right price and redefining construction. The brand wishes to provide a network that allows customers to eliminate their footwork and make everything available with a single click. They are more than just mediators in the process of home construction; they are present at each and every step until the end result is successfully achieved.

Proptech Platform Strata Launches New Grade-A Office Asset Opportunity in Chennai; Aims to Raise INR 27 Cr from Investors

After closure of its latest asset in Pune in record time of 38 hours, Strata launches its next asset in Chennai

• To offer a gross entry yield of 9.1% and targeted IRR of 12.9%
• Perungudi is one of the most preferred neighborhoods in Chennai for residential and commercial purposes
• This asset is pre-leased for 5 years would have a lock in period of 3 years
• Strata, currently has more than 35k+ users & 2k+ investors globally

Strata, India’s leading tech-enabled commercial real estate (CRE) investment platform, today announced the launch of its 17th commercial asset, a plush, Grade-A office property in Chennai. Leased out to a leading US based technology company, Strata aims to raise Rs. 27 crore for the asset which is expected to offer a gross entry yield of 9.1%.

Situated in one of the most strategic locations of Perungudi in Chennai, the office asset spans across an area of approx. 35000 sq. ft. and has been pre-leased for a period of 5 years with a lock-in period of 3 years. Additionally, the asset is expected to generate a net investor annual internal rate of return (IRR) of 12.9%, thus creating a rewarding and stable asset opportunity offering inflation beating returns while generating passive income in the long-term.

Popularly known as the IT corridor of Chennai, Perungudi is now gaining popularity as one of the most preferred residential areas too. Owing to its location on the IT highway and proximity to other key neighborhoods in Chennai such as Thiruvanmiyur, Adyar and Velachery, it serves as one of the most archetypal location for a premium commercial asset.

Commenting on the launch, Sudarshan Lodha, Cofounder & CEO, Strata Property Management, said, “After raising a record breaking fund of INR 38 crore in 38 hours for our entry asset in Pune, we are much enthusiastic to return to our special market Chennai, with a brand new office asset. Primarily dominated by the IT, engineering and manufacturing sectors, Chennai has been witnessing strong leasing activity through the first two quarters of 2022 which clearly indicates full recovery from the pandemic. With continued demand momentum across IT and manufacturing sectors, the commercial property market in Chennai is witnessing immense traction and therefore our asset launch comes in at a very strategic time.”

“Since Strata’s launch in 2019 we have come a long way in building a robust portfolio of assets worth INR 700+ crore across strategic locations in the country. We are extremely thrilled to return back to the ever growing market of Chennai for the launch of our 17th asset which further strengthens our presence in South India. With a premium tenant, location as prominent as Perungudi combined with Strata’s unparalleled tech and management expertise, our latest offering is a highly lucrative investment opportunity in Chennai” he added.

After funding 16 assets across the country, Strata’s return to Chennai with its second asset in the city, comes in at a strategic time when the city is witnessing strong revival post the pandemic. The company, today has over 700+ crore worth of Asset under Management (AUM) with total of 2.8 million sq ft managed across cities such as Bengaluru, Hosur, Hyderabad, Mumbai, Pune, Jaipur, etc.

Strata has been relentlessly working towards democratizing commercial real estate as an asset class in the country. The company has an investor base of over 35k+ comprising of over 2000 active investors.

Strata envisions to be the largest alternative investment platform in the country for retail investors by enabling them to invest in CRE assets, by democratizing assets and offering it on an easy-to-use online platform. Through its tech-enabled platform, Strata empowers retail investors across the globe to invest in specific commercial properties in a particular location of their choice whilst offering good yields. Strata is backed by institutional investors like Kotak Investment Advisors, Gruhas Proptech, Sabre Investments Elevation Capital, Mayfield and PropStack.

About Strata Property Management

Strata is a tech-enabled real estate investment platform that allows investors to own and sell fractions of pre-leased, Grade-A commercial properties like office spaces, warehouses, industrial assets, etc. With more than 700+ Cr in AUM, over 35,000 members, and 2000 investors, it is India's leading platform for fractional ownership in commercial real estate.

It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others.

Sourcing Commercial Real Estate and offering it on an easy-to-use online platform, Strata aims to democratize CRE, making it accessible for a much larger investor base, as well as bringing transparency and simplicity to CRE investments with its data-driven asset selection and single window platform to invest in assets across the nation. https://strataprop.com/

Villgro and Habitat for Humanity Partner to Support Sustainable and Affordable Housing Innovations

Villgro, in collaboration with Habitat for Humanity’s Terwilliger Center for Innovation in Shelter is providing funding and incubation support to affordable housing startups and entrepreneurs in India. The partnership is an outcome of Villgro’s flagship startup deal discovery event, iPitch, which seeks to connect social entrepreneurs with impact investors across the globe for funding opportunities.

The two organizations will support the incubation and launch of high‐impact, highly scalable, innovation‐based affordable and sustainable housing enterprises in India that improve shelter for low-income families. Selected startups will receive technical guidance and mentorship to improve their product, service offerings, commercial viability and business model. Startups will gain access to platforms connecting them with investors and other experts in the market.

Habitat’s Terwilliger Center will provide catalytic grants and technical support for up to 7 startups, to pilot promising ideas that can enable their business growth.

The following companies have received up to 45 lakhs (US$ 57,934) of funding collectively so far:

• GreenJams is an award-winning social enterprise that manufactures Agrocrete, a carbon-negative building material made from crop residues, such as paddy straw, wheat straw and cotton-stalk, and industrial by-products (slags, sludge and fuel ashes). Agrocrete is available in the form of blocks and replaces conventional building materials, reducing construction costs by up to 50%.
• Zerund manufactures recycled bricks, known as Plastic Embedded Lightweight Brick, which are 50% lighter than traditional red clay bricks, provide thermal and noise insulation and are pest and fire resistant.
• Bandhu is involved in the design, development and deployment of software and other IT solutions tailored to solving problems for low-income migrant workers in India. Through its digital marketplace, Bandhu connects workers with jobs and housing by matching workers, employers, landlords and middlemen.

"Social enterprises can bring in the innovation needed to make housing affordable, without losing track of social and environmental impact. At Villgro, we are excited to be part of this partnership and bring our two decades of experience in startup incubation to scale these solutions, as we learn from the deep sector expertise of Habitat’s Terwilliger Center," said Ananth Aravamudan, Sector Lead, Climate Action at Villgro Innovations Foundation.

"Innovative products and services from startups are an important part of our strategy to make housing markets more efficient and inclusive in India. We are delighted to partner with Villgro, a pioneer in social innovation, to identify and support impactful enterprises in the affordable housing space,” said Anoop Nambiar, Country Director for the Terwilliger Center in India. The Center works across the housing value chain, by facilitating promising companies to enter the incremental homebuilding market. Its hands-on technical advisory and support has guided over 150 partners, globally, to serve low-income families with affordable housing products and services.

Selected startups will also join Habitat’s ShelterTech, the world’s leading platform for affordable housing innovation, which brings together impactful and cutting-edge housing-related technologies and practices from around the world.

“ShelterTech has already supported more than 70 innovative ventures with knowledge, network, connections and capital since 2017,” said Lizan Kuster, global lead for ShelterTech. “We are now partnering with leading accelerators to run affordable housing tracks and leveraging our expertise to support even more entrepreneurs.” Habitat also invests in promising startups through its Shelter Venture Fund. Three of the Fund’ About Habitat’s Terwilliger Center for Innovation in Shelter s investments, which was launched in 2017, have been in Indian startups: ECOSTP with its sustainable sewage treatment system; waste-based roofing startup ReMaterials; and India’s 3D-printing construction startup, Tvasta.

About Villgro

Villgro is India's oldest and one of the world's largest social enterprise incubators — creating impactful, innovative, and successful enterprises in Health, Agribusiness, and Climate Action. Since 2001, Villgro has supported over 323 social enterprises that have raised over INR 4,388 million in investments and impacted over 20 million lives. Villgro was recognised as the “Top Incubator” in India by Invest India (DPIIT, GoI) in 2020. To learn more, visit: https://villgro.org/

About Habitat’s Terwilliger Center for Innovation in Shelter

The Terwilliger Center for Innovation in Shelter, a unit of Habitat for Humanity International, works with housing market systems by supporting local firms and expanding innovative and client-responsive services, products and financing so that households can improve their shelter more effectively and efficiently. The ultimate goal of the Terwilliger Center’s market systems program is to make housing markets work more effectively for people in need of decent, affordable shelter, thereby improving the quality of life for low-income households. To learn more, visit habitat.org/tcis.

Neo-Realty Platform MYRE Capital Sees 10x Growth in Investors; Plans Rs.500cr AIF by July 2022

 AIF to meet rise in demand of CRE investment from HNIs, family offices, institutional and retail investors

Plans for 500 crore corpus size Real Estate AIF to address rising interest from Family Offices, Institutional investors, and HNI’s.

MYRE Capital’s user base includes 37% NRI investors from 16+ Countries

The startup is developing a proprietary AI/ML algorithm to identify and evaluate CRE properties

Neo-realty investments platform MYRE Capital announced a 10X growth in its user base within 12 months, registering over 30,000 investors and an AUM in excess of Rs.175 cr. To meet demand for CRE investment from HNIs, family offices, institutional and retail investors, MYRE Capital will be launching Rs.500cr Alternative Investment Fund (AIF) by July 2022. This will be a first-of-its-kind, SEBI regulated, Neo-Realty Investment fund.

The AIF will invest in A+ grade completed commercial real estate properties which are tenanted by blue chip tenants for long leases along with a healthy mix of select under construction properties. Investors will earn stable monthly rental income from the fund's assets of 8%-10% and will also benefit from the capital appreciation. The fund is expected to deliver an overall internal rate of return of 20%-25%.

Mr Aryaman Vir - Founder & CEO, MYRE Capital

Investments in CRE has always been one of the preferred asset classes for institutional investors and HNI’s - via the fractional ownership model. However, with unprecedented demand from Family Offices and retail investors to diversify portfolio to beat inflation, MYRE Capital is witnessing a demand from a diverse base of high salaried professionals, NRIs, entrepreneurs, lawyers and Chartered Accountants.

MYRE Capital is also working on a state of the art proprietary asset evaluation algorithm. This algorithm is built on the fundamentals of artificial intelligence, machine learning, and big data analytics. It works in real time to source and evaluate 1500+ opportunities per month. The algorithm will promote quantitative decision making translating to superior asset performance and returns for investors.

Aryaman Vir, Founder & CEO, MYRE Capital said “Having aggregated 175cr+ in AUM and over 30,000 users on the platform in the previous 12 months, our target for the upcoming year is to achieve a 5X growth. We have maintained a 100% rental collection and distribution rate to investors and have achieved a 0% portfolio vacancy rate despite the three pandemic induced lockdowns. There is a massive uptick in CRE activity led by the pent up demand that has accrued in the past 2 years - we are seeing unprecedented leasing in the major commercial hubs. Further due to post-pandemic lingering stress, we have been able to secure institutional grade assets at lucrative prices for our investors."

Technology forms the base of MYRE Capital’s unique product offering and the company plans to launch some exciting new tech features to further enhance the user experience including a mobile application.

MYRE Capital has already launched five properties across Bangalore, Mumbai & Pune. With the increasing NRI traction that the company is witnessing, the fractional CRE platform is exploring a local presence in markets like Dubai, the UK and Singapore to offer global real estate opportunities to investors in the near future.

MYRE Capital is also aggressively expanding their team across verticals and investing in the work culture and ethos of the company.

About MYRE Capital:

MYRE Capital, a venture by Morphogenesis, is a tech-enabled fractional ownership platform that provides easy access, transparency, and liquidity to a curated selection of rent-yielding commercial real estate assets. Each asset is selected based on criteria involving predictive analytics, 25 years of industry expertise, and state-of-the-art technological processes. The company is founded by Mr. Aryaman Vir with his expertise in computer science, real estate, finance, and big data analytics     .

MYRE Capital provides real estate owners and developers a reliable source of stable finance whilst providing potential investors and stakeholders with end-to-end management and execution thus enabling them to redevelop trust in this asset class and reposition the Indian real estate market on a global platform.          

Housing.com and Mygate Tie-Up to Facilitate Larger Reach for Homeowners

India’s leading online real estate company, Housing.com, has announced a tie-up with the country’s largest community management app, MyGate. This would enable users of MyGate’s newly-launched property platform, MyGate Homes, to simultaneously list their properties on Housing.com and at the same time, it would help Housing.com to expand its customer base.

With an existing base of close to 3 million homes in the 25,000 gated communities on MyGate, this tie-up is well positioned to benefit consumers of both MyGate and Housing.com.

The partnership with Bengaluru-based MyGate is one of the many strategic tie-ups that REA India-owned Housing.com, has announced in the past one year to expand its services portfolio and consumer base.

Commenting on the partnership, Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com, said: “Our partnership with the largest community app in the country would be highly beneficial for both the platforms. This initiative is in line with our strategy to strengthen our full stack rental offerings on Housing Edge. While buyers and tenants on Housing.com will have more options to select from, given the large number of listings that could potentially come on our platform through this strategic partnership, it will enable MyGate users to seamlessly use our platform to list their properties to get access to millions of potential buyers and tenants."

"To enhance the value of MyGate Homes, we have entered into this partnership, where our users can benefit from the reach of Housing.com in just a click, bringing up a larger number of eyeballs to their listing and opening up an additional pool of potential buyers/tenants. We expect such partnerships to deliver value to our users,” said Shreyans Daga, CTO and co-founder of MyGate.

MyGate Homes was recently opened to all of the app’s users, after a successful pilot in Bengaluru that attracted over 10,000 property listings. It is expected to breach 25,000 monthly listings by year-end. Ultimately, this will enable Housing.com to have the largest supply of apartments from gated communities around the country.