RSquare Surpasses 160,000 Commercial Real Estate Listings... Q1 Order Sales Up 70%

Surpassed 65 Billion KRW in Orders and Sales in Q1

Approximately 70% Vertical Increase Compared to Same Period Last Year

Cumulative Transaction Amount Exceeds 6 Trillion KRW Over the Past 5 Years

[Asia Economy Reporter Kim Min-young] RSquare is transforming into an information analysis company based on a database of 160,000 commercial real estate records both domestically and internationally.

RSquare, a company specializing in commercial real estate data, announced on the 20th that as of the end of the first quarter this year, it has collected 160,000 data records from the domestic and international commercial real estate markets, including office and commercial facilities, logistics centers, and more. This includes 140,000 domestic office and retail records, 12,000 domestic logistics warehouse records, and 10,000 commercial real estate database records from Vietnam.

According to the Ministry of Land, Infrastructure and Transport, as of last year, the number of commercial buildings in cities with populations over 500,000 reached 293,706. Excluding hazardous material storage and processing facilities, transportation facilities, and lodging facilities, RSquare effectively holds information on most buildings nationwide.

RSquare has secured detailed information not only from building registers but also on tenant-preferred business types and building management status. For example, it holds data on landlords' building sale plans, floor usage, individual heating and cooling installation possibilities, 24-hour parking availability, hourly parking fees, and restroom types.

Providing services with differentiated data has resulted in high customer satisfaction and trust. In a customer satisfaction survey conducted last year by research firm ResearchWin, 97% responded that they were "satisfied with the service."

An RSquare official stated, "Based on our uniquely held 160,000 data records, we plan to advance our business in domestic and international office, hotel, hospital, logistics center, retail brokerage, land and building purchase and sale, and data analytics," adding, "We aim to grow as a leading proptech company not only in Korea but also in the Asian market."

RSquare's orders and sales in the first quarter exceeded 65 billion KRW. This surpassed half of last year's total orders and sales (120 billion KRW) in just three months. Compared to the first quarter of last year, orders and sales increased by approximately 70%.

The company explained that this explosive growth was due to continuous growth in the real estate business division and the new data analytics business division, which grew more than 200% compared to the same period last year.

Meanwhile, RSquare's cumulative transaction amount in office, retail, and logistics center real estate exceeded 6 trillion KRW over the past five years.