Southeast Asia’s leading property technology company, PropertyGuru, has entered into an agreement with REA Group to acquire iProperty.com.my, Brickz.my, thinkofliving.com and Prakard.com. The former two are entities operating in Malaysia and the latter two are entities operating in Thailand.
The acquisition of the REA Group’s entities will allow PropertyGuru to consolidate resources and further expand its digital solutions to home seekers, supporting their homeownership aspirations in Southeast Asia.
It will also help to accelerate PropertyGuru’s ambition to build a “Trust Platform” that connects Southeast Asia’s property markets into one efficient ecosystem that builds trusted relationships between all stakeholders i.e. agents, home seekers, developers, valuers and banks.
Hari V. Krishnan, CEO and Managing Director of PropertyGuru Group, said:
“Malaysians have shown a preference for digital research of properties and that they value the tools and services PropertyGuru.com.my and iProperty.com.my provide today. Together we make property searches, pricing trends and financing options more transparent. By combining PropertyGuru’s strengths in technology and proprietary data with iProperty.com.my’s footprint and relationships with developers and agents, we can digitize the property ecosystem and accelerate our goal of creating Southeast Asia’s property “Trust Platform”.”
Hari also added that “thinkofliving.com and Prakard.com in Thailand will allow PropertyGuru to deepen their servicing of the primary property market that are complemented by the market-leading solutions for the Thai resale and rental markets through DDproperty.com.”
Other benefits of the acquisition include:
- sharing of best data solutions and insights to bring greater transparency and access to the Malaysian property market;
- tap on PropertyGuru’s larger customer base to facilitate innovation; and
- the inclusion of Malaysian property agents and developers in the Southeast Asian property ecosystem.
PropertyGuru was launched in 2007 and has since grown from a regional property media powerhouse into a high-growth technology company. It has the largest offering of properties i.e. more than 2.8 million homes, backed by in-depth insights and solutions to help property seekers make confident and informed decisions in Singapore, Malaysia, Thailand, Indonesia and Vietnam.
