hBits, a fractional ownership platform for commercial real estate, expects investments worth ₹1500-2000 Crore from Gujarat-based HNIs and investors through its platform over the next 3 to 4 years, stated the company in an official release here Wednesday.
“Gujarat has always been one of our key markets with so far almost 20 percent of the investors on our platform being from this state. The investors from Gujarat are known for their versatility, and opting for fractional ownership further diversifies their portfolio by enabling them to invest in Grade A commercial assets spread across India. Amid the positive sentiments in the sector, we aim to further enhance our investor base from the state and scale up their investment value. The HNI population of the state remains our key target audience and we will be actively reaching out to them over the next few quarters,” stated Shiv Parekh, Founder and CEO of the company.
hBits allows investments in Grade A commercial real estate across key markets in India through its fractional ownership model.
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Ahmedabad ranks among the top six cities in India with a huge population of high net worth (HNI) individuals. Among other cities in Gujarat, Surat and Rajkot also have a high HNI base. hBits offers innovative opportunities for the HNIs to invest in Grade-A commercial properties such as offices, warehouses, etc. spread across India through fractional ownership and earn an average rental yield of up to 10 per cent with an IRR of up to 18 per cent, the statement added.
Ahmedabad has over 4.6 million square feet of Grade A commercial office spaces. The company is expanding its portfolio, engaging in negotiations with prominent developers in Ahmedabad and other key cities like Surat and Rajkot to acquire assets of comparable caliber.