Shubha Dasgupta, CEO of Pineapple, welcomed the announcement. “Ottawa has a diverse and stable economy, with a strong emphasis on the public sector due to its role as the nation’s capital. The city also has an expanding technology sector and is a significant destination for newcomers to the country,” he said. “Our presence in this vibrant market will, we believe, significantly contribute to our overall growth strategy and bottom line.”
“We look forward to rapidly expanding our team to meet the anticipated high demand for Pineapple’s cutting-edge AI tools and our collaborative, people-first culture in the region,” said El-Beaino. “Situated in a prime location with new condo and office developments, the office has excellent visibility and foot traffic to attract new clients. It also reflects our values of community and collaboration between agents to enhance the client experience.”
Rizzi shared the company’s potential for growth in Ottawa, noting the city exhibits robust real estate activity despite market challenges and economic uncertainty.
“With the average home price below the national average, coupled with a stable job market and robust immigration, Ottawa offers ample opportunity for homebuyers to successfully enter the housing market and mortgage holders to comfortably absorb the interest rate increases more effectively than their counterparts across Canada,” Rizzi noted. “With this unique advantage, we project substantial revenue potential for 2024.”
Pineapple is a tech-focused mortgage brokerage, with over 650 mortgage brokers across Canada. It designs cloud-based tools and AI-driven systems that its brokers can use to help homebuyers in securing a home.