RSQUARE, is Rising to be an ’Asian COSTAR GROUP’ with Integrated Commercial Property Services
RSQUARE, a company whose specialty lies within commercial property data, has started providing an integrated service as they took on services of leasing brokerage, consultation on purchase/sale, data analytics, and interior, which makes them an ‘Asian COSTAR GROUP.’ COSTAR GROUP is deemed as a global leading company in the commercial property data/analysis area. RSQUARE has achieved over ￦100 billion in orders during the first half of this year. That means, despite the deterioration in macroeconomics such as a rise in global interest rates and the war between Russia and Ukraine, they made the amount equivalent to about 80% of orders that were made last year within 6 months. The key to overcoming the depressed market situation seems to be through expanding the leasing brokerage business that was centered around offices to retail and distribution centers as well as diversifying the portfolio of interior business from offices to hotels, retail and building remodeling. Besides, consultation on purchase/sale of land and building, data analytics, and new projects such as overseas businesses in Vietnam, Singapore and others are going well. RSQUARE Vietnam has secured about 50,000 databases of commercial properties such as factories, industrial complexes, and major buildings in Vietnam. They are growing rapidly as they‘ve recently passed the break-even point of the month. In case of Singapore, they built a database of more than 65,000 commercial properties by carrying out the complete enumeration of commercial/residential/industrial areas. The company has all the information such as not only the list of renting companies in each building, number of vacant rooms, landlords, persons in charge of leases, but also the year of foundation, levels, location and squares. RSQUARE set a goal of becoming an ‘Asian COSTAR GROUP’ with integrated real estate services, expanding their business beyond Korea to the whole of Asia. Not to mention strengthening their position as a No.1 PropTech company in Korea, they’re now walking towards being a leading PropTech company in Asia. COSTAR GROUP is doing business in the USA and Europe using the incomparable amount of data they procured. Even with the pandemic, their sales were 1.9 billion last year which was 17.2% higher than the previous year. The company provides information about real estate listings of offices, shopping malls, farms, ranches, and apartments through platforms such as Showcase, Roofnet, Apartments.com, BizBuySell, CoStar, etc. This information includes locations, building features, land descriptions in addition to tax, demographic, and lease details. The number of monthly visitors to Roofnet, the biggest commercial property platform in the world, is higher than 11 million. “We’re planning to introduce an analysis/prediction solution for commercial properties using the reserved data during the second half of the year, and in order to expand the business in Southeast Asia, we started collecting data of commercial properties in Indonesia and Malaysia as well while taking our place in the market with PM, investment consultation, and others.” said an officer from RSQUARE. 이동희 기자 (lee.donghee.ja@gmail.com)property services costar group property data on services
