Elara Technologies, operator of digital real estate portals Housing.com, PropTiger.com and Makaan.com, has unveiled its new brand, Rea India. The brand reflects the name of parent company Rea Group Ltd, a leading digital real estate companyÂ headquartered in Melbourne, Australia.
Rea Group first invested in Rea India (formerly Elara Technologies Pte Ltd) in 2017, becoming the majority 61% shareholder in 2020 with a subsidiary of US-based News Corp being the remaining substantial shareholder. News Corp is also majority shareholder in REA Group.
Owen Wilson, CEO, Rea Group, said, âA key pillar of Reaâs long-term growth strategy is expanding into large growth markets. Our strong presence in India provides Rea Group with exposure to one of the worldâs most attractive economies and complements our existing footprint in Australia, Asia and North America.
âThe 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,â said Wilson.
Within the Rea Group structure, Rea India will continue to operate as a separate organisation under the ongoing leadership of Dhruv Agarwala, Co-Founder and CEO, along with the current leadership team.
âIn 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,â said Agarwala.
âThe pandemic has elevated the market need for technology and revolutionised 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 optimise our offerings around this shift and build a more engaging and transparent platform for our user base, with support from Rea Groupâs team,â added Agarwala.