hBits aims to close the financial year 20-21with INR 100 crores
Mumbai / New Delhi, January 06, 2021:hBits, the real estate company offering fractional ownership (FA) to investors, today announced that the company has signed a strategic partnership with SMC Real Estate Advisors. The partnership will offer access for fractional ownership to more than 1.4 million investors already associated with SMC Real Estate Advisors.
SMC Real Estate Advisors’ focused investment advisory across their network, will offer hBits, the right opportunity to put forward high end premium commercial real-estate for SMC’s existing investors. Fractional ownership is a new and upcoming investment option in India, which offers steady and secure returns of more than 15-18 percent.
Shiv Parekh, Co-Founder, hBits said, “Fractional ownership as a concept in India is picking up amongst investors. Since the concept is new, investors contemplate before investing in this segment. In the next few years, fractional ownership is expected to be one of the top five lucrative investment options due to its low risk/ high return model. We are using machine learning and blockchain technology to create transparency of information and build ease in accessibility. The AI technologies will also ensure security of transaction for investors trust in this new investment tool.”
“hBits aims to reach 100 crore by the end of this financial year. We have already achieved an investment of INR 60 crores in the last two leased properties. During Covid, there has been a rise in fractional ownership as an investment option. Fractional ownership offers steady and secured returns which are even better than bank interest FD returns”, he further added.
Ankush Ahuja, Director -Business Development & Investments, hBits said, “We are expanding our reach through strategic partnership similar to SMC. This tie-up will help us popularize the concept amongst investors and reach more prospective investors. In the last three months the company has reached out to more than six financial advisory companies since October 2019. Presently hBits as a organization has 10000 + registered customers. We aim to onboard further 1000+ potential users by this financial year and these partnerships will play a crucial role to meet our targets.”
hBits was incepted 2019 and is currently based out of Mumbai with offices in Delhi and Bangalore. The company envisions democratizing access to real estate and infrastructure so that individuals, and not funds, become ultimate owners of these lucrative assets. hBits is bringing transparency to the real estate sector by using technology to gather all historical sale and rental data and putting them on a transparent platform for everybody to access. It is empowering people to make their choice to proceed with the ownership with all relevant information at their fingertips.
Fractional ownership is one of the prime focus areas for the company, where hBits is enabling fractional ownership in Grade A pre-Leased property. With fractional ownership, investors can choose the property they want to put their money in. The company aims to become the most trusted platform for real estate.