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PropertyGuru to acquire iProperty Malaysia 03 Jun 2021 / 23:10 H.
PETALING JAYA: Property technology company PropertyGuru Group will acquire all of the shares in REA Group’s iProperty.com.my.
ASX-listed digital business REA Group will receive an 18% stake in the enlarged PropertyGuru Group and appoint a director to the board, with the transaction expected to close in July.
Besides iProperty.com.my, PropertyGuru Group will also acquire REA Group’s Brickz.my in Malaysia as well as thinkofliving.com and Prakard.com in Thailand.
“A key objective of the transaction is to accelerate the development of the proptech industry in Malaysia. The addition of iProperty.com.my and Brickz.my will bolster PropertyGuru Malaysia’s ability to provide consumers with the most diverse digital marketplaces, together with the most comprehensive set of data, actionable insights and services to support homeownership aspirations of Malaysians,” PropertyGuru said.