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
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed 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

Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

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...

RECOMMENDED