The Indian arm of the luxury real estate advisory service provider, Sotheby’s International Realty, (India SIR), has opened its Mumbai office, after a series of successful fund influxes. The latest being USD 2 million from an ultra-high net worth individual. This round of fund raising is in addition to the recent equity transaction deal with BCCL worth USD 7 million. India Sotheby’s International Realty has thus far raised a total of USD 9 Million until date in India. More offices are likely to be opened across other important Indian metros.
Keeping with their growth trajectory, India Sotheby’s International Realty has also recently opened their new office in Mumbai. The office in Mumbai will be instrumental in catering to the high demand of luxury real estate for West India HNIs. The company has handpicked experienced professionals from a mix of real estate, banking, and the luxury segment to drive their Mumbai operations. Sudershan Sharma has joined the Mumbai team as Director-Strategy and Corporate Alliances, after having spent 25 years in the Banking industry. Ish Pahwa and Khushboo Khanna have joined the Mumbai team, each having over a decade of experience in Mumbai real estate industry. Sachin Taneja and Pradeep Malhotra have joined the New Delhi office, each having 25 plus years of diverse and rich experience.
Expansion of human capital and establishing India desks focusing on the Indian diaspora overseas, will form the organisation’s key growth areas. With the India desks in London, Dubai and Seattle yielding gainful and encouraging results, the aim will be to have more such desks in key global cities across the world to cater to the ultra-rich Indians who are increasingly investing in high-end residential real estate globally. Indian developers promoting their projects to the NRI population will also form an integral component of the outreach and India SIR will aim to serve both categories effectively, through their association with the world’s leading luxury real estate brand.
The Company, which recently set up an India desk in Canada catering to the key cities of Toronto and Vancouver, is actively looking at enhancing its global footprint with the India desk network. Singapore, New Zealand, Australia and key cities in the U.S., are in the pipeline as part of the company’s business vision.
Sharing his thoughts on the growth path that the company is fast adopting, Amit Goyal, CEO, India Sotheby’s International Realty said, “As the affluent Indians increasingly make their presence felt across the globe and seeks consultants who are insightful, trust-worthy and advise on their needs, we step in with our global expertise of managing the top of the pyramid.“
Ashwin Chadha, President, India Sotheby’s International Realty said, “With our operations beginning in Mumbai, we have only furthered our capabilities to provide services across the spectrum, even as our global expansion runs alongside and has witnessed a robust response. Real estate purchase is as much an emotional decision as it is a financial one and therefore, we are delighted to have seasoned professionals join us, who have the right requisites to decode client needs and serve them adequately.”
Akash Puri, Director International, India Sotheby’s International Realty said, “The Mumbai office is a well-planned addition to our existing portfolio. Mumbai, being India’s financial capital, our office will be a gateway to provide exceptional services and opportunities to our affluent clients seeking international residences in cosmopolitans such as London, New York, Toronto, Dubai and Singapore.”
Sotheby’s is a 270 year old world-renowned brand that is synonymous with luxury, with interests in fields like auction, diamonds, wine and real estate. Under the Sotheby’s brand umbrella, Sotheby’s International Realty (“SIR”) operates a global network of over 21,000 agents across 71 countries with 900 offices with a unique online platform to support. In 2016, the brand achieved a record global sales volume of USD 95 billion.
Real Pro which operates as the Indian arm of SIR, earlier had the license to operate only in North India, however it now successfully operates across the Indian Territory, being the exclusive representative of SIR in the Indian market. It provides marketing and other transaction advisory services to its clients intending to buy or sell luxury real estate properties globally. The India SIR has a team of over 25 professionals from private banking and the luxury lifestyle domain, and has been actively selling prime properties to global Indians.