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PropertyGuru becomes strategic investor of batdongsan.com.vn

Released at: 14:16, 04/10/2016

PropertyGuru becomes strategic investor of batdongsan.com.vn

Photo: batdongsan.com.vn

Leading property group comes together with Vietnamese real estate portal.

by Huyen Thanh

PropertyGuru, Asia’s leading online property group, has become a strategic investor of Vietnamese real estate portal batdongsan.com.vn after a signing ceremony on October 3 in Hanoi, expanding its presence in Vietnam and introducing Vietnamese real estate to investors throughout Asia.

The value of the deal was not disclosed.

PropertyGuru will join batdongson.com.vn’s Board of Directors and become its leading shareholder. Mr. Le Xuan Truong, founder and CEO of batdongsan.com.vn, will continue to hold decision making power and run the business.

Mr. Jani Rautiainen, CEO and co-founder of PropertyGuru Group, said that Vietnam is one of the fastest growing internet markets in the world, with numbers expected to increase from 50 million now to 82 million by 2020.

“We also recognize the potential of Vietnam’s property market,” he said. “We strongly believe the strategic partnership with batdongsan.com.vn will increase our position in one of the largest and fastest-growing countries in Southeast Asia.”

The two companies will work together to connect markets and enhance cooperation in sales, marketing and product and service innovation.

Agents and developers in Vietnam will be able to access and use PropertyGuru’s products and services and introduce Vietnamese real estate to regional and Asian investors through exhibitions and events and the portals within PropertyGuru’s system. batdongsan.com.vn’s users will also benefit from service expansion and technology upgrades as well as more efficient access to real estate portfolios.

“PropertyGuru’s multiple support from new technologies and methods in managing and operating world-class property portals will give us the opportunity to make breakthroughs,” said Mr. Truong. “With this partnership we believe that batdongsan.com.vn will become a reliable and more efficient tool, bringing benefits to our customers and our partners and contributing to the development of Vietnam’s property market.”

batdongsan.com.vn is used by over 2 million property seekers each month and has 50 million page views monthly. It provides customers with the largest real estate portfolio in the country, at more than 1.9 million in 2015, and has the largest number of customers who are agents and developers, totaling more than 80,000 this year.

The website first began in 2008 and now has more than 500 employees in seven offices around Vietnam.

PropertyGuru is Asia’s foremost online property group. With a presence in nine markets, it helps over 16 million people find their dream home every month.

Starting out as a property search portal, PropertyGuru was founded in 2006 by two entrepreneurs with a vision of simplifying the property search process and helping buyers, sellers and investors make more informed property decisions faster.

The Group manages a suite of No. 1 property search portals in the region and also covers property-related publications, events, awards, project marketing solutions and more. It operates 14 award-winning mobile apps in multiple languages across all major platforms, with over 3 million downloads to date. 

Headquartered in Singapore, PropertyGuru brings insightful content on new homes as well as essential market news and information to people’s fingertips, helping them make confident property decisions.

With innovative technologies, it raises the bar on how property-seekers find their dream home, offering highly interactive and immersive experiences. These include 3D virtual walk-throughs of home units and drone videos of local neighborhoods.

At any time, property-seekers can find more than 1 million homes across Southeast Asia, be they brand new developments or well-loved resale units, for buying or renting.

PropertyGuru also provides data and technology-backed solutions to real estate developers and agents, helping them sell properties faster.

The Group generates over 500,000 enquiries every month in Singapore, Malaysia, Indonesia and Thailand, which in turn help drive transactions valued at over $15 billion annually.

PropertyGuru received Southeast Asia’s second largest tech investment in 2015 and is backed by a world-class investor base that includes TPG, a global private investment firm with over $67 billion of assets under management and investing in both Uber and Airbnb; Emtek, a media conglomerate in Indonesia; and Square Peg Capital, an Australia-founded investor of internet companies.

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