PropertyGuru acquires REA Group’s iproperty.com.my and Thailand entities

PropertyGuru Group is buying the shares of REA Group’s working entities in Malaysia and Thailand: iProperty.com.my, Brickz.my, thinkofliving.com and Prakard.com. REA Group will obtain an 18% fairness curiosity within the enlarged PropertyGuru Group and appoint a director to the board. The transaction, which is predicted to shut in July 2021, underpins PropertyGuru’s technique of being the highest property know-how group in Southeast Asia.
The acquisition will retain each PropertyGuru.com.my and iProperty.com.my’s distinctive and complementary audiences. Both firms will mix sources, drive innovation and present enhanced digital options to house seekers, property brokers and builders. Also, the acquisition hopes to allow PropertyGuru to share information options and insights and convey larger transparency and entry to the Malaysian property market. By leveraging PropertyGuru’s bigger buyer base, the corporate seeks to facilitate innovation and wider inclusion of Malaysian property brokers and builders within the Southeast Asian property ecosystem.
Building on the success of REA Group’s Malaysian and Thailand companies, PropertyGuru envisions that the transaction will present REA with a strategic shareholding in a bigger, extra diversified firm in a area that continues to expertise speedy digital transformation throughout the actual property sector. PropertyGuru is current in Singapore, Malaysia, Vietnam, Indonesia, and Thailand. According to the corporate, it grew month-to-month visits to 35 million regionally and claims to have over 50% share in Southeast Asia. MARKETING-INTERACTIVE has reached out to PropertyGuru for extra info.
Olivier Lim (pictured left), chairman of the board, PropertyGuru Group, mentioned the laser deal with anticipating and addressing the distinctive wants of customers within the area by investing in steady innovation was a key a part of PropertyGuru’s success. “We look ahead to working collectively and cater absolutely to the trending shopper preferences in Southeast Asia. This will additional speed up the digitalisation of the property sector of this thrilling area,” Lim added.
Hari V. Krishnan (pictured centre), PropertyGuru Group’s CEO and MD, mentioned the corporate plans to work with REA Group to place in place a method that helps the mixed companies in each markets. “By combining PropertyGuru’s strengths in know-how and proprietary information with iProperty.com.my’s footprint and relationships with builders and brokers, we are able to digitise the property ecosystem and speed up our aim of making Southeast Asia’s property ‘belief platform’,” mentioned Krishnan.
REA Group’s CEO Owen Wilson (pictured proper) mentioned becoming a member of with the PropertyGuru Group creates new alternatives for collaboration and entry to a deeper pool of experience, know-how and funding. “It positions these already robust manufacturers properly to speed up the following wave of Proptech innovation in Southeast Asia,” he added.
Separately, the corporate lately named Remona Duquesne as director of brand name overseeing Singapore, Malaysia, Vietnam, Indonesia, and Thailand. The newly created position seeks to assist it form its journey past on-line property search to develop into Southeast Asia’s property belief platform. The director of brand name place was created earlier this 12 months when Meenakshi Shunmugham, former director, model and shopper advertising, stepped down from her position. Meanwhile, Sushmita Mohapatra and Ryan Thoo have been promoted to move of content material advertising and director of shopper advertising respectively.
The firm additionally launched a branding marketing campaign for mentioned finance vertical, PropertyGuru Finance, final October. The vertical provides a platform by means of which owners and patrons can, both independently or by means of the model’s Home Finance Advisors to find and examine the perfect house loans obtainable and entry sensible instruments and sources to assist them make house financing selections.
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