Jan 24, 2011 - PropertyGuru.com.sg
AllProperty Media Pte Ltd, which owns Singapore’s leading property portal, PropertyGuru.com.sg, has signed a deal to acquire FullHouse Media Sdn Bhd, the company behind North Malaysia’s leading real estate site, FullHouse.com.my.
Under the agreement, AllProperty Media will acquire the shares, assets and website in FullHouse Media for cash and equity.
Commenting on the agreement, Y.E. Cheong, CEO and Founder of Fullhouse Media, said: “We are excited to combine forces with AllProperty Media. We are convinced that we'll be able to increase our leadership in North Malaysia by leveraging our respective strengths.”
Mr. Cheong will join the senior management team of AllProperty Media in Malaysia. He will spearhead the business development and strategy of the company for the North Malaysian region and handle the existing office and team in Penang.
The acquisition is also a boost to AllProperty Media’s Malaysian expansion, with the upcoming launch of HomeGuru.com.my, and gives the company a market leading position in the northern region of the country.
Steve Melhuish, CEO of AllProperty Media, said, “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.”
FullHouse Media has more than 100,000 visitors viewing more than one million real estate pages monthly, an opted-in member database of more than 45,000 home buyers and investors, and an active Facebook page with 9,000 members.