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Hyderabad, July 13 The Bangalore-based Real Estate Bank of India (REBI), which is positioning itself as a ‘one shop’ step for real estate services, plans to invest up to Rs 25 crore in the next one year to open around 3,000 franchisee shops across the country.

“We have already invested Rs 5 crore since February 2007, when the company was incorporated. We are targeting the flourishing real estate market, especially the property transaction segment, where we want a 15-20 per cent share,” Mr Lakshmi Narayanan, President and CEO, said.

The property transaction market is pegged at $16 billion and projected to grow to around $25 billion by 2011. An estimated 14 lakh transactions took place during fiscal 2006-07, he told newspersons while announcing the launch of operations in Andhra Pradesh.

REBI intends to pump in promoters’ money initially. In 2008, it would scout for private equity funds. During 2009-10, it proposes to turn a public limited company going for an IPO (initial public offering). It has placed a target of doing Rs 125 crore in the first year of operations, the CEO said.

Along its growth path, REBI is going global with an entity in Sri Lanka, REBI Arabia in West Asia, a company in the UK with a local partner and soon a presence in the US, Mr Lakshmi Narayanan said. Interestingly, REBI emerged from Pacific Online, an IT company, which he managed.

REBI promises huge employment with nearly 40,000 people in its franchisee outlets. It is not perturbed by the real estate correction, which Mr Narayanan said had to happen, but the future growth is promising and the company would cash in on the early mover advantage into the segment.

It plans to offer brokerage, financial, database and relocation services under one roof. The revenues would be generated through charges on the seller ranging from 1-10 per cent. The company also will launch two real estate portals and create a centralised data bank.

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