We are delighted to share with you some exciting news from PropertyGuru. Today, we 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.
A key objective of the transaction is to accelerate the development of the Proptech industry in Malaysia. This is an exciting development for PropertyGuru and for our industry more widely. Both PropertyGuru.com.my and iProperty.com.my share a customer-first philosophy and a mission of making homeownership in Malaysia more accessible. Bringing our two great brands under our Group will enable us to combine resources and focus on achieving even faster innovation and provide more valuable solutions and services to you. We will be able to share even greater data solutions and insights and bring greater transparency and access to the entire Malaysian property market. The Group’s expanded customer base will also enable an even wider inclusion of Malaysian property agents, developers and financiers in the Southeast Asian property ecosystem.
We would like to reassure you that there will be no changes to your services with PropertyGuru or iProperty.com.my. We recognize that the PropertyGuru and iProperty.com.my platforms offer complementary services to customers and consumers and the brands will remain separate. You will have the same access to the services and support previously provided. In other words, it will be business as usual for both platforms. PropertyGuru’s primary focus following this acquisition will be to work with their respective management teams to support these two brands to continue to thrive in Malaysia.
These acquisitions underpin PropertyGuru’s strategy of being the No. 1 Proptech Group in Southeast Asia and will accelerate PropertyGuru’s ambition of becoming the “Trust Platform” for the property ecosystem: A platform that connects Southeast Asia’s property industry into an efficient ecosystem that builds trusted relationships between agents, property seekers, developers, valuers and banks by driving greater transparency and efficiency.
PropertyGuru is also excited to welcome REA Group as a strategic investor. They are a global company that deeply understands the digital property industry and they join a distinguished group of investors, including KKR and TPG. Their insight and expertise will help us achieve even faster growth and innovation and improve our platforms for the benefit of everyone in Malaysia.
You will hear more from us in the weeks and months ahead as we work closely with the iProperty.com.my and brickz.my team and put in place a strategy that will enable us to provide even better solutions and services here in the Malaysian market.
Being a better partner for you,