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The Silicon Review Asia

PropertyGuru to Buy REA Group’s Malaysia and Thailand Business

PropertyGuru to Buy REA Group’s Malaysia and Thailand Business

Singapore-based property technology company PropertyGuru Group is acquiring REA Group’s businesses in Malaysia and Thailand. The acquisition will include buy out of REA Group’s and in Malaysia; and and in Thailand. The transaction is expected to close in July 2021.

Headquartered in Singapore, PropertyGuru is a leading property marketplaces in Singapore, Malaysia, Thailand, Indonesia, and Vietnam. By acquiring, PropertyGuru will be retaining the customer base of two biggest property marketplaces in Malaysia.

As part of the acquisition, REA Group will receive 18% equity interest in the PropertyGuru Group. The company will also get to appoint a director to PropertyGuru’s board.

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group, said, “The acquisitions of REA Group’s companies in Malaysia and Thailand are a key milestone in PropertyGuru’s history. By combining our resources, we will be able to deliver even more innovation to home seekers, equipping them with the insights they need to make confident decisions.”

The monthly visitors for PropertyGuru grew to 35 million regionally despite the pandemic. The company is a regional proptech leader with over 50% share in Southeast Asia.


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