India News
Real estate firm REBI to expand operations
Jul 12, 2007, 10:30 GMT
Hyderabad, July 12 (IANS) Real Estate Bank International (REBI), a Bangalore-based end to end service provider in the real estate sector, Thursday announced plans to invest Rs.250 million next year to expand its operations in India and abroad.
Lakshmi Narayanan, president and CEO, REBI, told a news conference that the company would expand its operations in India and in countries like Sri Lanka, US, UAE, Singapore, Malaysia and Australia.
REBI, which already has its presence in Karnataka, Kerala and Tamil Nadu and plans to start operations in Andhra Pradesh and other states, will set up 3,000 franchises all over the country in the next three years.
The company provides single window services for customers in the real estate industry. The services include brokerage, financial, database and relocation services.
'REBI has been the pioneer in offering all services under one roof to make real estate transactions transparent and easy for both buyers and sellers,' Narayanan said.
He added that the company was aiming to generate revenues of Rs.1.5 billion to Rs.2 billion during the current fiscal, the first year of its operations.
Narayanan said that the size of real estate sector in India was expected to grow from $16 billion to $25 billion in 2010. The size of the reseller market was also huge, according to him. The company plans to bag 15 to 20 percent of the transactions market by 2009-2010.
REBI also plans to launch India's first real estate toll free helpline soon.
© 2007 Indo-Asian News Service
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