On Friday, one of the leading fractional ownership real estate companies, hBits announced the appointment of Samir Bhandari as its Chief Financial Officer (CFO)
Samir Bhandari has been working in banks for 33 years. He has worked in Singapore for almost 26 years. He has worked in senior leadership positions like Executive Director at UBS and Managing Director at JP Morgan. In 1989, he started his career as a management trainee at Bank of America.
Before joining hBits, Samir worked as a Managing Director at Nomura.
As a CFO of hBits, Bhandari will have a responsibility to expand the company business within and outside India.
Founder of hBits, Shiv Parekh said that they welcome Samir Bhandari to the team and hope that they will be able to strengthen the company’s position in fractional ownership with more market outreach.
He further added that Fractional ownership has been growing rapidly in India and investors are interested in the opportunities offered for investments in grade A properties to build a regular income. Almost 70 percent of the company’s customer is from an MNCs base who understand the opportunities provided by CRE. The company is serving more than 30,000 investors on its platform and hopes to double this number by the end of this year.
Samir Bhandari, CFO of hBits said that hBits has already disturbed the commercial real estate market in the country. They hope that they will attract the interest of national and international investors and will bring in more assets to build a stronger portfolio for their existing customers. The CRE market will see some actions in the coming days as the stock market giving explosive returns due to global issues.
