Singapore and North Malaysia’s top property portals ink business deal

PropertyGuru Group, the company behind Singapore's leading property portal, PropertyGuru.com.sg, has agreed to acquire FullHouse Media Sdn Bhd, owners of FullHouse.com.my, North Malaysia’s leading property site. Under the deal, PropertyGuru International (Malaysia) Sdn. Bhd. will acquire the shares, website and assets in FullHouse Media Sdn Bhd for cash and equity.

Commenting on the agreement, Y.E. Cheong, founder and CEO of Fullhouse Media Sdn Bhd, said, “We are excited to combine forces with PropertyGuru Group. We are convinced that we'll be able to increase our leadership in North Malaysia by leveraging our respective strengths.”

Mr. Cheong will join PropertyGuru International (Malaysia) Sdn. Bhd.’s senior management team in Malaysia. He will lead the company's business development and strategy for the North Malaysian region, as well as manage the existing office and team in Penang. Furthermore, the acquisition is a boost to PropertyGuru International (Malaysia) Sdn. Bhd.'s Malaysian expansion with the imminent launch of its HomeGuru.com.my site as well as giving it a market leading position in the country’s northern region.

With this partnership, PropertyGuru Group stands to gain from FullHouse Media Sdn Bhd’s strong relationships with Malaysian real estate developers and agencies, as well as its six years’ of experience, in which the latter has successfully carved out a niche targeting Penang and the other northern states of Malaysia.

FullHouse Media Sdn Bhd has over 100,000 visitors viewing over one million property pages every month and an opted-in member database of over 45,000 home buyers and investors, as well as a highly active Facebook page with 9,000 members. It also developed the first online Malaysia Apartment Directory, consisting of photos and details on more than 1,300 apartments and condos in Kuala Lumpur, Selangor, Penang and Johor and sponsors and participates regularly in property expos and roadshows in Penang. It is also the online strategic partner of the Real Estate and Home Developer Association (REHDA) in Penang, Perak and Kedah / Perlis.

Steve Melhuish, CEO of PropertyGuru International (Malaysia) Sdn. Bhd., stated, "We are delighted to bring FullHouse into the AllProperty family! This acquisition accelerates our expansion into Malaysia and gives us an immediate market leading position in North Malaysia. Our property advertisers will now be able to reach over 1.8 million potential buyers monthly, via our websites in Malaysia and Singapore but also target buyers in Australia, Hong Kong, India and Macau, via our partner sites. This gives us a unique pan-Asian property marketing capability."

In addition to exciting opportunities for PropertyGuru Group and FullHouse Media, the new deal promises to offer Malaysian property hunters an exciting platform to find their 'dream home'.

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Media Contacts:

PropertyGuru International (Malaysia) Sdn. Bhd.
Ms. Winnie Khoo, Chief Marketing Officer
Tel: +65 6238 5971
Email: winnie@propertyguru.com.sg

FullHouse Media Sdn Bhd
Mr Y. E Cheong, CEO and co-founder
Tel: +60 (0)4 229 0366    
Email: wycheong@fullhouse.com.my

About PropertyGuru International (Malaysia) Sdn. Bhd.:

PropertyGuru Group is a Singapore firm founded in 2006 by two successful entrepreneurs. The company is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google AdPlanner). It also runs www.CommercialGuru.com.sg, Singapore’s only dedicated commercial and industrial property portal, as well as www.LoanGuru.com.sg, an online mortgage brokerage with access to over 200 mortgage deals at any time. The company is set to launch www.HomeGuru.com.my later this month, a platform to identify available properties in Malaysia for purchase, sale, rental or investments, and a direct channel to search for and contact agents for assistance.

In 2010, PropertyGuru Group won the Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital Association (SVCA) “Best Performing VC Backed Company 2010” and Marketing Magazine “Top 10 Digital Media 2010”. The Company also picked up the “CNBC World’s Best Property Award 2009”, “Best Property Portal Asia Pacific 2009” and “Best Property Portal Singapore Award” in 2008 and 2009 for its www.PropertyGuru.com.sg website.

www.PropertyGuru.com.sg is used by over 1.7 million consumers who view 27 million pages and generate over 150,000 leads for advertisers every month. The user-base has grown 70 percent in the last 12 months. The site provides real time access to multimedia-rich content, covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore. It works closely with prominent real estate developers in Singapore and overseas and over 21,000 housing agents and home-related firms.

www.CommercialGuru.com.sg was launched in August 2010 and is used by 100,000 business users and investors, browsing one million pages and generating 50,000 leads for advertisers every month. It is Singapore’s only independent dedicated commercial and industrial property portal.

www.LoanGuru.com.sg was launched in January 2010 and is an independent online mortgage brokerage providing real time access to over 200 mortgage packages from over 22 banks. It generates over 500 loan leads per month.

www.HomeGuru.com.my is a Malaysian property portal set to launch in January 2011, as part of a joint venture between PropertyGuru Pte. Ltd., Singapore and RedBerry, Malaysia. The portal provides consumers a platform to identify available properties for purchase, sale, rental or investments, and a direct channel to search for and contact agents for assistance. Designed with the end-user in mind, the portal boosts real time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and a rapidly growing online property database in Malaysia. It works closely with prominent real estate developers in Malaysia and overseas, housing agents and home-related firms.

For recent news, please visit www.propertyguru.com.sg/customer-service/press-releases. For more information, visit www.PropertyGuru.com.sg, www.CommercialGuru.com.sg and www.LoanGuru.com.sg.

About Fullhouse Media Sdn Bhd:

Founded in 2005, FullHouse Media Sdn Bhd has over 100,000 visitors viewing over one million property pages every month and an opted-in member database of over 45,000 home buyers and investors, as well as a highly active Facebook page with 9,000 members. It developed the first online Malaysia Apartment Directory, consisting of photos and details on more than 1,300 apartments and condos in Kuala Lumpur, Selangor, Penang and Johor and sponsors and participates regularly in property expos and roadshows in Penang. It is also the online strategic partner of the Real Estate and Home Developer Association (REHDA) in Penang, Perak and Kedah / Perlis.

Fullhouse.com.my is a website owned by FullHouse Media Sdn Bhd that provides property-related services online. It strives to become a one-stop property search engine encompassing all local properties in Malaysia and to reach out globally in the future. Its objective is two-fold — firstly, it provides a convenient and user-friendly method for potential buyers and renters to search for their ideal properties online. Secondly, it provides a cost-effective marketing channel for advertisers to reach their target audience. Whether one is buying, selling, renting or letting, Fullhouse.com.my makes it easy.

For more information, please visit www.FullHouse.com.my