Acquisition increases PropertyGuru Group’s position as the leading Asian online property portal

 

PropertyGuru.com.sg, Singapore's leading online property portal, has agreed to acquire Rumah.com, Indonesia's top property website. "Rumah", which in Bahasa Indonesia means "house" or "home", is one of the most frequently used search words online for property hunters in Indonesia.

This acquisition gives PropertyGuru Group a market leading position in one of the largest and most dynamic property and online markets globally. Furthermore, it enables the company to help property agents, agencies and developers more effectively reach wealthy Indonesian buyers and investors, as well as bring Indonesian properties to buyers outside the country.

Indonesia is the world's fourth largest nation with a population of 245 million, and is one of the fastest growing Internet markets with an estimated 45 million online users (doubling over the previous year). Indonesia is also Facebook's second largest market globally, overtaking the UK late last year, with 30 million users.

Indonesia's economy has been also growing fast with 6% GDP growth in 2010 and an expected 6.5% growth in 2011. Due to an improving domestic economy, foreign direct investment has also continued to increase rapidly showing a 46 percent rise in the first half of 2010 compared with the previous year. To further support this, Southeast Asia's biggest economy intends to deregulate its property industry, allowing foreigners to buy homes and commercial properties directly. The Government aims to reach a 15 percent increase in foreign investment over last year's $14 billion. Additionally, Indonesians are the third largest foreign buyers of property in Singapore, purchasing almost 1,600 local properties last year.

Steve Melhuish, CEO of PropertyGuru Group, said, "We are excited to acquire Rumah.com, Indonesia's leading property site. Indonesia is a strategic market with enormous potential, that combines a hot domestic property sector with a large and exploding online population. In addition, this acquisition gives PropertyGuru a unique regional marketing capability to real estate developers and agencies wishing to target buyers in multiple Asian countries, including Singapore, Indonesia, Malaysia, Australia, India, Macau and Hong Kong."

Rumah.com was launched in 2007 and has seen consistent growth in traffic and revenue over the period. The website is currently used by 500,000 buyers viewing eight million pages monthly. Rumah.com offers over 120,000 properties for sale and rent in Indonesia and works closely with Indonesia's leading property agents and developers, listing their properties on the site.

This acquisition agreement comes two weeks after AllProperty's announcement that it had launched www.HomeGuru.com.my in Malaysia and was buying FullHouse Media Sdn Bhd, who operate North Malaysia's leading portal www.FullHouse.com.my.

 

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Media Contact:

PropertyGuru Pte. Ltd.
Ms. Winnie Khoo, Chief Marketing Officer
Tel: +65 6238 5971
Email: winnie@propertyguru.com.sg

Rumah.com
Mr. Franky Yulianto Chung, CEO and Founder
Tel: +62 4115206000
Email: franky@rumah.com


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 recently launched www.HomeGuru.com.my, a platform to identify available 50,000 properties available 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 launched in January 2011, as part of a joint venture between PropertyGuru Pte. Ltd., Singapore and RedBerry, Malaysia. In addition, the Company agreed to acquire North Malaysia's leading property portal www.FullHouse.com.my in January 2011. HomeGuru 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, www.LoanGuru.com.sg, and www.HomeGuru.com.my.


About Rumah.com:

Founded in 2007, www.Rumah.com is Indonesia's top property website with over 500,000 visitors viewing eight million impressions every month. Over 700 new property listings are added everyday and the website has a database of 11,000 opted-in members. Rumah.com is an online media campaign that provides the ideal search experience for all types of property: residential, commercial and industrial.

Rumah.com allows sellers and renters to place on its site property advertisements which can be easily viewed by prospective buyers, who can search for property based on location and / or price.

For more information, please visit www.Rumah.com.