A square deal for Hong Kong property investors & developers
Asian property investment market to benefit from AllProperty-Squarefoot deal
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Melbourne, Friday 22 July 2011 — REA Group (ASX:REA), a market-leading digital real estate advertising business, announces an extended Asian footprint that will benefit international property investors and developers.
REA’s Hong Kong based real estate site http://www.squarefoot.com.hk/ is enriching its offering to property developers targeting the growing Asian property investment market.
An agreement for cross-selling with Singapore-based property portal AllProperty Group, which runs leading property portals in Singapore (www.PropertyGuru.com.sg) and Malaysia (www.HomeGuru.com.my) will see squarefoot.com.hk feature a revamped “International” section, featuring a dedicated section for Singapore and Malaysia.
The agreement enables AllProperty Group to sell listing space on squarefoot.com.hk and squarefoot.com.hk to sell listing space within the “Overseas” section on AllProperty group portals.
This deal will greatly enhance REA Group’s offering to property investors located in Hong Kong, assisting squarefoot.com.hk browsers to find suitable properties in Singapore and Malaysia besides Australia.
The improved site will be valuable for property developers with real estate projects targeting international investors. These developers currently rely on overseas road-shows whereas REA Group now delivers the broader reach and cost-effective alternative of digital advertising.
“We believe there is a substantial market for overseas property investments and the appetite for cross-border transactions is growing”, said Jenny Macdonald, Group CFO & GM International Business, REA Group. “We are pleased to have AllProperty Group as our partner given their strong network in regions that complement our areas of operation”.
The two groups have also agreed to share information and articles on the local market enabling local audiences to access valuable information on property and developments in overseas markets. This is anticipated to increase traffic and improve search engine visibility.
This announcement comes on the back of a busy few months for Squarefoot following the launch of a bilingual version of its flagship magazine, iPhone application and Simplified Chinese version of portal.
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Media Contacts:
Ms Winnie Khoo
PropertyGuru International (Malaysia) Sdn. Bhd.
Contact: + 65 6238 5971
winnie@propertyguru.com.sg
An agreement for cross-selling with Singapore-based property portal AllProperty Group, which runs leading property portals in Singapore (www.PropertyGuru.com.sg) and Malaysia (www.HomeGuru.com.my) will see squarefoot.com.hk feature a revamped “International” section, featuring a dedicated section for Singapore and Malaysia.
The agreement enables AllProperty Group to sell listing space on squarefoot.com.hk and squarefoot.com.hk to sell listing space within the “Overseas” section on AllProperty group portals.
This deal will greatly enhance REA Group’s offering to property investors located in Hong Kong, assisting squarefoot.com.hk browsers to find suitable properties in Singapore and Malaysia besides Australia.
The improved site will be valuable for property developers with real estate projects targeting international investors. These developers currently rely on overseas road-shows whereas REA Group now delivers the broader reach and cost-effective alternative of digital advertising.
“We believe there is a substantial market for overseas property investments and the appetite for cross-border transactions is growing”, said Jenny Macdonald, Group CFO & GM International Business, REA Group. “We are pleased to have AllProperty Group as our partner given their strong network in regions that complement our areas of operation”.
The two groups have also agreed to share information and articles on the local market enabling local audiences to access valuable information on property and developments in overseas markets. This is anticipated to increase traffic and improve search engine visibility.
This announcement comes on the back of a busy few months for Squarefoot following the launch of a bilingual version of its flagship magazine, iPhone application and Simplified Chinese version of portal.
- END -
Media Contacts:
Ms Winnie Khoo
PropertyGuru International (Malaysia) Sdn. Bhd.
Contact: + 65 6238 5971
winnie@propertyguru.com.sg
Simon Schweigert
Weber Shandwick / REA Group
Contact: +61 3 9604 2778
About REA Group:
REA Group (ASX:REA) is a market-leading online advertising business specialising in real estate. Established in Melbourne in 1995, the Group operates real estate websites in Australia and around the world. Together, its sites received more than 13.3 million unique browsers in May 2011 (source: Nielsen Market intelligence, Nielsen SiteCensus, Omniture).
About Squarefoot.com.hk:
Squarefoot.com.hk is one of Hong Kong’s leading residential property websites with approximately 72,000 listings (Squarefoot internal data, June 2011). Together with the Square Foot magazine (English and Chinese listings) and e-magazine, squarefoot.com.hk is a leading source of Hong Kong property information and market trends. Property listings cover luxury properties for rent and sale, residential properties for rent and sale, as well as serviced apartments for rent.
About PropertyGuru:
www.PropertyGuru.com.sg is Singapore’s leading property and home site and the brainchild of PropertyGuru International (Malaysia) Sdn. Bhd., a local firm established in 2006. The site won the CNBC “Worlds Best Property Award” as well as the CNBC Asia Pacific Property Awards for “Best Property Portal Asia Pacific” in 2009 and “Best Property Portal Singapore” in 2008 and 2009. According to Experian Hitwise Singapore (Experian.com.sg), PropertyGuru is the leading property portal in Singapore.
www.PropertyGuru.com.sg provides real time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and largest online property database in Singapore. It works closely with prominent real estate developers in Singapore and overseas, over 17,000 housing agents, and home-related firms. The site is used by over 1.9 million consumers who view 29 million pages and generate over 225,000 leads for advertisers every month (sources: Hitwise, Google Insights and Alexa.com).
About PropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Pte. Ltd. is Asia’s leading property portal group with a presence in seven countries (directly and via partners). Almost 4 million users view 48 million property pages on the Company’s websites across South East Asia. The Company’s revenues tripled in 2010, traffic doubled and agent subscriptions grew 85%.
PropertyGuru Group was founded in 2006 by two successful entrepreneurs in Singapore and is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google). 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 300 mortgage deals from 23 major local and international banks.
The Company has picked up a number of industry and government awards over the last 3 years including “CNBC World’s Best Property Portal 2009”, “Google Singapore Top 10 Fastest Rising Search Term 2009”, Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital & Private Equity Association (SVCA) award for “Best Performing VC Backed Company 2010” and voted “Top Digital Media of the Year 2010” by Marketing Magazine.
For 2011, the company has set its sights on expanding into neighbouring countries. It has entered into a joint venture with Redberry, one of Malaysia’s top media companies, to accelerate its expansion into Malaysia and launched HomeGuru.com.my, a website to help users find available properties for sale and rent in Malaysia. It has also acquired FullHouse Media Sdn Bhd, owners of leading North Malaysian property portal, FullHouse.com.my and Rumah.com, Indonesia's top property website, with over 500,000 visitors viewing eight million impressions every month.
PropertyGuru Group is now operating across 7 countries (Singapore, Malaysia, Indonesia, Hong Kong, India, Australia and Macau) via new operations, acquisitions and strategic partnerships.
Asia’s Leading Property Portal Group includes:
www.PropertyGuru.com.sg is used by over 1.9 million consumers who view 29 million pages, generating approximately 150,000 leads for advertisers every month. The site provides real-time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore and works closely with prominent real estate developers, housing agents and home-related firms in Singapore and overseas.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 140,000 business users browsing 1.6 million pages and generating approximately 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 as an independent online mortgage brokerage providing real-time access to over 300 mortgage packages from 23 major local and international banks. It processes approximately $40 million of mortgage applications monthly.
www.HomeGuru.com.my is a Malaysian property portal set up as part of a joint venture between PropertyGuru Pte. Ltd. and Malaysia’s RedBerry. It provides consumers a platform to identify available properties for purchase, sale, rental or investment and a direct channel to search for and contact agents. Designed with the end-user in mind, it features 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, housing agents and home-related firms in Malaysia and overseas.
www.FullHouse.com.my was established in 2005 for Malaysians to efficiently and conveniently search for properties on the Internet. It has grown in popularity, attracting over 160,000 visitors and viewing more than 1.2 million page views every month to become one of Malaysia’s top property portals. With hundreds of housing projects and more than 80,000 property listings to date, Fullhouse.com.my is the preferred online marketing channel for major real estate players. It constantly explores ways to serve customers through innovative and effective strategies. The company’s objective is to enhance the experience of finding a new home and leading the industry into a new era of real estate marketing.
www.Rumah.com was founded in 2007 and is Indonesia's top property website with approximately 500,000 visitors viewing 8 million page views every month. Over 120,000 properties for sale and rent in Indonesia and the website have 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 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, www.HomeGuru.com.my, www.FullHouse.com.my or www.Rumah.com.
REA Group (ASX:REA) is a market-leading online advertising business specialising in real estate. Established in Melbourne in 1995, the Group operates real estate websites in Australia and around the world. Together, its sites received more than 13.3 million unique browsers in May 2011 (source: Nielsen Market intelligence, Nielsen SiteCensus, Omniture).
About Squarefoot.com.hk:
Squarefoot.com.hk is one of Hong Kong’s leading residential property websites with approximately 72,000 listings (Squarefoot internal data, June 2011). Together with the Square Foot magazine (English and Chinese listings) and e-magazine, squarefoot.com.hk is a leading source of Hong Kong property information and market trends. Property listings cover luxury properties for rent and sale, residential properties for rent and sale, as well as serviced apartments for rent.
About PropertyGuru:
www.PropertyGuru.com.sg is Singapore’s leading property and home site and the brainchild of PropertyGuru International (Malaysia) Sdn. Bhd., a local firm established in 2006. The site won the CNBC “Worlds Best Property Award” as well as the CNBC Asia Pacific Property Awards for “Best Property Portal Asia Pacific” in 2009 and “Best Property Portal Singapore” in 2008 and 2009. According to Experian Hitwise Singapore (Experian.com.sg), PropertyGuru is the leading property portal in Singapore.
www.PropertyGuru.com.sg provides real time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and largest online property database in Singapore. It works closely with prominent real estate developers in Singapore and overseas, over 17,000 housing agents, and home-related firms. The site is used by over 1.9 million consumers who view 29 million pages and generate over 225,000 leads for advertisers every month (sources: Hitwise, Google Insights and Alexa.com).
About PropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Pte. Ltd. is Asia’s leading property portal group with a presence in seven countries (directly and via partners). Almost 4 million users view 48 million property pages on the Company’s websites across South East Asia. The Company’s revenues tripled in 2010, traffic doubled and agent subscriptions grew 85%.
PropertyGuru Group was founded in 2006 by two successful entrepreneurs in Singapore and is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google). 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 300 mortgage deals from 23 major local and international banks.
The Company has picked up a number of industry and government awards over the last 3 years including “CNBC World’s Best Property Portal 2009”, “Google Singapore Top 10 Fastest Rising Search Term 2009”, Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital & Private Equity Association (SVCA) award for “Best Performing VC Backed Company 2010” and voted “Top Digital Media of the Year 2010” by Marketing Magazine.
For 2011, the company has set its sights on expanding into neighbouring countries. It has entered into a joint venture with Redberry, one of Malaysia’s top media companies, to accelerate its expansion into Malaysia and launched HomeGuru.com.my, a website to help users find available properties for sale and rent in Malaysia. It has also acquired FullHouse Media Sdn Bhd, owners of leading North Malaysian property portal, FullHouse.com.my and Rumah.com, Indonesia's top property website, with over 500,000 visitors viewing eight million impressions every month.
PropertyGuru Group is now operating across 7 countries (Singapore, Malaysia, Indonesia, Hong Kong, India, Australia and Macau) via new operations, acquisitions and strategic partnerships.
Asia’s Leading Property Portal Group includes:
www.PropertyGuru.com.sg is used by over 1.9 million consumers who view 29 million pages, generating approximately 150,000 leads for advertisers every month. The site provides real-time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore and works closely with prominent real estate developers, housing agents and home-related firms in Singapore and overseas.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 140,000 business users browsing 1.6 million pages and generating approximately 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 as an independent online mortgage brokerage providing real-time access to over 300 mortgage packages from 23 major local and international banks. It processes approximately $40 million of mortgage applications monthly.
www.HomeGuru.com.my is a Malaysian property portal set up as part of a joint venture between PropertyGuru Pte. Ltd. and Malaysia’s RedBerry. It provides consumers a platform to identify available properties for purchase, sale, rental or investment and a direct channel to search for and contact agents. Designed with the end-user in mind, it features 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, housing agents and home-related firms in Malaysia and overseas.
www.FullHouse.com.my was established in 2005 for Malaysians to efficiently and conveniently search for properties on the Internet. It has grown in popularity, attracting over 160,000 visitors and viewing more than 1.2 million page views every month to become one of Malaysia’s top property portals. With hundreds of housing projects and more than 80,000 property listings to date, Fullhouse.com.my is the preferred online marketing channel for major real estate players. It constantly explores ways to serve customers through innovative and effective strategies. The company’s objective is to enhance the experience of finding a new home and leading the industry into a new era of real estate marketing.
www.Rumah.com was founded in 2007 and is Indonesia's top property website with approximately 500,000 visitors viewing 8 million page views every month. Over 120,000 properties for sale and rent in Indonesia and the website have 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 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, www.HomeGuru.com.my, www.FullHouse.com.my or www.Rumah.com.