PropertyGuru to acquire iProperty Malaysia and thinkofliving Thailand and welcome REA Group as strategic shareholder
Dear Agent Partners in Singapore,
I hope this message finds you well.
I am delighted to share with you some exciting news. Today we have announced that PropertyGuru Group will acquire all of REA Group’s property technology assets in Malaysia – iProperty.com.my and brickz.my and thinkofliving.com and Prakard.com in Thailand. PropertyGuru is also excited to welcome REA Group as a strategic investor. REA Group is a global company that deeply understands the digital property industry and they join our distinguished group of technology investors, led by KKR and TPG.
These acquisitions in Malaysia and Thailand are a key milestone in PropertyGuru’s journey – a Singapore headquartered and home-grown company that has over the last fourteen years expanded into four other markets to become Singapore’s and Southeast Asia’s Proptech leader.
By bringing iProperty.com.my, brickz.my in Malaysia and thinkofliving.com and Prakard.com into PropertyGuru Group, we will be able to deepen our focus and investment in innovation, delivering enhanced solutions for efficiency and audience reach for all our customers. We will be able to share even greater data solutions and insights and bring greater transparency and access to the Malaysian and Thai property markets. Much like our recently launched data and insight solution, DataSense, achieves in Singapore.
The Group’s expanded customer base will also enable a wider inclusion of Malaysian and Thai property agents, developers and financiers in the Southeast Asian property ecosystem. This will help spur growth in the region’s property sector in the long term.
These acquisitions underpin PropertyGuru’s strategy of being the No. 1 Proptech Group in Southeast Asia and will accelerate our ambition of becoming the “Trust Platform” for the property ecosystem: A platform that connects Southeast Asia’s property industry into an efficient ecosystem connecting agents, property seekers, developers, valuers and banks by driving greater transparency and efficiency.
We would like to reassure you that there will be no impact on your services with PropertyGuru in Singapore. In other words, it will be business as usual. You can also read the details in this press release.
We are excited to have recently rolled out enhanced agent packages (PropertyGuru Agent Partner360) that include many new and complementary services. We hope you have experienced these and we look forward to hearing your feedback on it.
Please feel free to contact your PropertyGuru Account Manager if you have any questions.
Jeremy Williams (Chief Business Officer, PropertyGuru Group) and
Dr. Tan Tee Khoon (Country Manager, PropertyGuru Singapore)