PropertyGuru buys over iProperty Malaysia, REA Group for Dummies

Residential or commercial property, Guru will acquire, Brickz. my in Malaysia and thinkofliving. com and Prakard. com in Thailand, enhancing its position as Southeast Asia's Proptech leader Brands to run separately and home seekers will benefit from combined financial investment in technology and innovation Agents and developers will take pleasure in bigger reach and much easier access to home seekers REA Group to end up being investor and take a seat on Residential or commercial property, Guru Board SINGAPORE AND SYDNEY, 31 May 2021 Home, Expert Group ('Property, Expert' or 'the Group'), Southeast Asia's leading property technology ('Proptech') business and REA Group (ASX: REA), an ASX noted, global digital organization specialising in property markets and information assets, today revealed they have gotten in into an agreement whereby Home, Master will get all of the shares in REA Group's operating entities in Malaysia and Thailand, which operate i, Home.

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my in Malaysia and thinkofliving. com and Prakard. com in Thailand. As part of the agreement, REA Group will get an 18% equity interest in the enlarged Property, Expert Group and designate a Director to the Board. The transaction is expected to close in July 2021.  Check Here For More , Master's strategy of being the No.

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Home-grown in Singapore, Residential or commercial property, Master runs leading home marketplaces in five of the greatest Southeast Asian economies. The addition of these services will bolster Home, Master's capability to supply house applicants with transparent and simple access to the most extensive set of information, actionable insights, and services to support their homeownership aspirations in Southeast Asia.

com.my and i, Home. com.my are 2 rapidly growing and best-in-class property markets in Malaysia. The two brand names have special and complementary audiences and the deal will see both brands maintained. The acquisition will have the following advantages: It will allow both business to integrate resources, accelerate development and supply boosted digital options to home applicants, residential or commercial property representatives and developers.

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Leveraging the Group's larger customer base, it will facilitate greater development for and larger addition of Malaysian residential or commercial property agents and developers in the Southeast Asian residential or commercial property community. The acquisitions will also speed up Home, Master's ambition of ending up being the "Trust Platform" for the residential or commercial property ecosystem: A platform that links Southeast Asia's home markets into an effective environment that builds relied on relationships between representatives, consumers, developers, valuers and banks by driving greater transparency and efficiency.