Elara Technologies, operator of digital real estate portals Housing.com, PropTiger.com and Makaan.com has rebranded itself as REA India.
REA Group Ltd is a leading digital real estate company headquartered in Melbourne, Australia with a market cap of 20 billion Australian dollars.
REA India will continue to operate as a separate organisation under the ongoing leadership of Dhruv Agarwala, co-founder, and Chief Executive Officer.
REA Group first invested in REA India (formerly Elara Technologies Pte Ltd) in 2017, becoming the majority 61 per cent shareholder in 2020, while the remaining stake is being held by US-based News Corp.
“A key pillar of REA’s long term growth strategy is expanding into large growth markets. Our strong presence in India provides REA Group with exposure to one of the world’s most attractive economies and complements our existing footprint in Australia, Asia and North America,” REA Group CEO, Owen Wilson said.
“The residential real estate market in India presents enormous growth opportunities on the back of rapid digital adoption. Leveraging the combined talent and expertise of REA Group and REA India, we have an exciting roadmap, fuelled by the delivery of highly personalised consumer experiences, to become the clear number one digital real estate business in India,” he said.
“In the new avatar, we will solidify our position as the digital real estate platform of choice in India. The new branding will provide us with a strong brand legacy backed by cutting edge technology. We will continue to serve our consumers and customers with the same passion and expand our presence in the promising real estate market in India,” said Agarwala.
“The pandemic has elevated the market need for technology and revolutionized the manner in which consumers are finding and purchasing real estate. This quick and transformative shift has led to accelerated digital adoption and the need for digitally enabled full stack services that are core to our business strategy. Our objective is to optimize our offerings around this shift and build a more engaging and transparent platform for our user base, with support from REA Group’s team,” he said.
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