Business

New York real estate firm opens software development centre in Belfast

Economy Minister Diane Dodds pictured in New York with Invest NI chief executive Kevin Holland (left) and SquareFoot chief executive Jonathan Wasserstrum. Photo: Kelvin Boyes/Press Eye
Economy Minister Diane Dodds pictured in New York with Invest NI chief executive Kevin Holland (left) and SquareFoot chief executive Jonathan Wasserstrum. Photo: Kelvin Boyes/Press Eye Economy Minister Diane Dodds pictured in New York with Invest NI chief executive Kevin Holland (left) and SquareFoot chief executive Jonathan Wasserstrum. Photo: Kelvin Boyes/Press Eye

A VENTURE-backed real estate technology company founded in New York in 2012 is opening a software development centre in Belfast, creating 25 jobs in the process.

SquareFoot works with companies to help them find suitable office space, from initial search right through to lease negotiation. It also provides a technology-based solution ‘TourBook’ which schedules property visits, records photos and notes, and guides a property searcher through the whole process.

Confirmation of its expansion into Northern Ireland was confirmed by Economy Minister Diane Dodds at the start of a week-long visit to the USA where she will meet potential investors in New York as well as with US politicians in Washington DC as part of the St Patrick’s programme.

Eight of the SquareFoot positions are already in place, and the company says it expects to have recruited all jobs by 2021.

Minister Dodds said: “The USA is an important market for Northern Ireland, both for trade and investment. It generates 60 per cent of all our foreign direct investment jobs and over £2billion of exports.

“It is therefore fitting to start my week-long visit to the US by announcing a new investor, SquareFoot, will develop new products and application features in Belfast.”

She added: “The company is offering attractive, high-end salaries which will see the new roles contribute over £1.6 million a year into the local economy."

Headquartered in the Flatiron District of New York City, Squarefoot is now branching into other cities, with plans to expand into the 25 largest north American real estate markets.

Its move to Belfast has been supported by Invest NI, which in the last five years has offered support to 102 US-owned businesses, securing £526m investment into the Northern Ireland economy and nearly 4,000 new jobs.

The agency's chief executive Kevin Holland, who is also in New York this week, said: “This announcement is a real testament to the quality and skills our workforce has to offer potential employers.

“Along with advising the company and showcasing everything that Northern Ireland has to offer as an investment location, we have also been able to secure the project with an offer of £100,000 towards the new roles. Attracting new investors is vital to the growth of our economy and we are delighted to welcome SquareFoot to Belfast.”

Jonathan Wasserstrum, founder and chief executive of SquareFoot, said: “We're growing our team now to match the expansion of the services we offer to our clients.

“Last year we launched FLEX by SquareFoot, which allows our clients to move into office space without committing to long-term leases. Lease flexibility is the future of commercial real estate, and our team in Belfast will guide us on building the technology to keep delivering on our vision.”

He added: “This new operation is central to our growth, and Invest NI’s support has helped us get the new team in Belfast up and running quickly. As a result, we will be able to scale our product and technology developments at a faster rate.”