Feb 7, 2011 - PropertyGuru.com.sg
AllProperty Media, which owns PropertyGuru.com.sg, the leading online property portal in Singapore, has agreed to buy Indonesia’s top property website, Rumah.com.
The agreement comes two weeks after AllProperty Media's announcement of the launch of www.HomeGuru.com.my in Malaysia and the acquisition of FullHouse Media Sdn Bhd, which operates North Malaysia’s leading property portal, www.FullHouse.com.my.
The latest acquisition gives the company a market leading position in one of the world’s biggest and most dynamic real estate and online markets. It also enables AllProperty Media to help real estate agents, agencies and developers reach well-heeled Indonesian investors and buyers, as well as bring Indonesian properties to buyers outside the country.
Steve Melhuish, CEO of AllProperty Media, 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.”
Launched in 2007, Rumah.com has seen consistent growth in revenue and traffic. It is currently used by 500,000 buyers who view eight million pages per month. The website offers more than 120,000 properties for sale and rent in Indonesia and works closely with leading property agents and developers in the country.