MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

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 iProperty.com.my and Brickz.my in Malaysia; and thinkofliving.com and Prakard.com 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 iProperty.com.my, 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.

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED