eXp Continues Global Expansion, Announcing Two New International Markets
eXp Realty, a global real estate brokerage under eXp World Holdings (Nasdaq: EXPI), announced its expansion into Chile and Dubai.
This follows the successful launch of nine new markets in 2021, raising their operational territories to 23, including recent entries in the Dominican Republic and Greece.
eXp Realty's President, Michael Valdes, noted that these expansions target significant growth opportunities in the EMEA and CALA regions, enhancing their market share and economic model for agents.
- Expansion into Chile and Dubai enhances global presence and market share.
- Successful launch of nine new markets in 2021 and two new markets in 2022 indicates strong growth momentum.
- Strategic entry points into regions with increasing buyer demand and property values.
- None.
Company to Establish Real Estate Brokerage Operations in Chile and Dubai
BELLINGHAM, Wash., May 03, 2022 (GLOBE NEWSWIRE) -- eXp Realty®, the fastest-growing global real estate brokerage in the world and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced plans to expand its real estate operations into Chile and Dubai, United Arab Emirates.
This announcement follows successful launches of nine new markets in 2021, and two year-to-date including Dominican Republic and Greece, with New Zealand expected to open this month. Upon launch of these new markets, eXp Realty expects to have a presence in 23 territories, including its headquarters in the United States.
“As we continue to rapidly grow our global footprint, Chile and Dubai represent strategic expansions into the EMEA and CALA regions, where we have already built a strong presence,” said Michael Valdes, President of eXp Global. “Our continued global expansion enables our brokerage to capture incremental market share and provides eXp Realty an opportunity to implement an attractive economic model for both agents and the company.”
Chile is a growing market with a uniquely diverse real estate ecosystem. Dubai, the Gulf region's trade and tourism hub and host of World Expo, continues to show increasing buyers’ demand while property prices continue to rise. As part of the expansion into the new markets, eXp will hire experienced leaders in each country to head up local teams who will be responsible for agent operations and services.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.
eXp Realty is the fastest-growing real estate tech company in the world with more than 80,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic and Greece and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
For more information, visit https://expworldholdings.com.
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com
Investor Relations Contact:
MZ Group – MZ North America
investors@expworldholdings.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/331ff564-d615-4c98-b00a-d1d50983ebd7
