PropertyGuru.com.sg,Singapore's leading online property portal, has agreed to acquireRumah.com, Indonesia's top property website. "Rumah", which inBahasa Indonesia means "house" or "home", is one of the mostfrequently used search words online for property hunters inIndonesia.
Thisacquisition gives PropertyGuru Group a market leading position in oneof the largest and most dynamic property and online markets globally.Furthermore, it enables the company to help property agents, agenciesand developers more effectively reach wealthy Indonesian buyers andinvestors, as well as bring Indonesian properties to buyers outsidethe country.
Indonesiais the world's fourth largest nation with a population of 245million, and is one of the fastest growing Internet markets with anestimated 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'seconomy has been also growing fast with 6% GDP growth in 2010 and anexpected 6.5% growth in 2011. Due to an improving domestic economy,foreign direct investment has also continued to increase rapidlyshowing a 46 percent rise in the first half of 2010 compared with theprevious year. To further support this, Southeast Asia's biggesteconomy intends to deregulate its property industry, allowingforeigners to buy homes and commercial properties directly. TheGovernment aims to reach a 15 percent increase in foreign investmentover last year's $14 billion. Additionally, Indonesians are thethird largest foreign buyers of property in Singapore, purchasingalmost 1,600 local properties last year.
SteveMelhuish, CEO of PropertyGuru Group, said, "We are excited toacquire Rumah.com, Indonesia's leading property site. Indonesia is astrategic market with enormous potential, that combines a hotdomestic property sector with a large and exploding onlinepopulation. In addition, this acquisition gives PropertyGuru a uniqueregional marketing capability to real estate developers and agencieswishing to target buyers in multiple Asian countries, includingSingapore, Indonesia, Malaysia, Australia, India, Macau and HongKong."
Rumah.comwas launched in 2007 and has seen consistent growth in traffic andrevenue over the period. The website is currently used by 500,000buyers viewing eight million pages monthly. Rumah.com offers over120,000 properties for sale and rent in Indonesia and works closelywith Indonesia's leading property agents and developers, listingtheir properties on the site.
Thisacquisition agreement comes two weeks after AllProperty'sannouncement that it had launched www.HomeGuru.com.myin Malaysia and was buying FullHouse Media Sdn Bhd, who operate NorthMalaysia's leading portal www.FullHouse.com.my.
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MediaContact:
PropertyGuru Pte. Ltd.
Ms. Winnie Khoo, Chief Marketing Officer
Tel: +656238 5971
Email: winnie@propertyguru.com.sg
Rumah.com
Mr.Franky Yulianto Chung, CEO and Founder
Tel: +62 4115206000
Email:franky@rumah.com
AboutPropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Group is a Singapore firm founded in 2006 by two successfulentrepreneurs. The company is best known for runningwww.PropertyGuru.com.sg,Singapore's leading property site (sources: Hitwise, Alexa andGoogle AdPlanner). It also runs www.CommercialGuru.com.sg,Singapore's only dedicated commercial and industrial propertyportal, as well as www.LoanGuru.com.sg,an online mortgage brokerage with access to over 200 mortgage dealsat any time. The Company recently launched www.HomeGuru.com.my,a platformto identify available 50,000 properties available in Malaysia forpurchase, sale, rental or investments, and a direct channel to searchfor and contact agents for assistance.
In2010, PropertyGuru Group won the Singapore IT Federation (SITF) awardfor "Best E-Enterprise Company 2010", Singapore Venture CapitalAssociation (SVCA) "Best Performing VC Backed Company 2010" andMarketing Magazine "Top 10 Digital Media 2010". The Company alsopicked up the "CNBC World's Best Property Award 2009", "BestProperty Portal Asia Pacific 2009" and "Best Property PortalSingapore Award" in 2008 and 2009 for its www.PropertyGuru.com.sgwebsite.
www.PropertyGuru.com.sgis used by over 1.7 million consumers who view 27 million pages andgenerate over 150,000 leads for advertisers every month. Theuser-base has grown 70 percent in the last 12 months. The siteprovides real time access to multimedia-rich content, coveringproperty and home-related products, services, news, advice, guides,tools and the largest online property database in Singapore. It worksclosely with prominent real estate developers in Singapore andoverseas and over 21,000 housing agents and home-related firms.
www.CommercialGuru.com.sgwaslaunched in August 2010 and is used by 100,000 business users andinvestors, browsing one million pages and generating 50,000 leads foradvertisers every month. It is Singapore's only independentdedicated commercial and industrial property portal.
www.LoanGuru.com.sgwas launched in January 2010 and is an independent online mortgagebrokerage providing real time access to over 200 mortgage packagesfrom over 22 banks. It generates over 500 loan leads per month.
www.HomeGuru.com.myis a Malaysian property portal launched in January 2011, as part of ajoint venture between PropertyGuru Pte. Ltd., Singapore andRedBerry, Malaysia. In addition, the Company agreed to acquire NorthMalaysia's leading property portal www.FullHouse.com.myin January 2011. HomeGuru provides consumers a platform to identifyavailable properties for purchase, sale, rental or investments, and adirect channel to search for and contact agents for assistance.Designed with the end-user in mind, the portal boosts real timeaccess to multi-media rich content covering property and home-relatedproducts, services, news, advice, guides, tools and a rapidly growingonline property database in Malaysia. It works closely with prominentreal estate developers in Malaysia and overseas, housing agents andhome-related firms.
Forrecent news, please visitwww.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.
AboutRumah.com:
Foundedin 2007, www.Rumah.comis Indonesia's top property website with over 500,000 visitorsviewing eight million impressions every month. Over 700 new propertylistings are added everyday and the website has a database of 11,000opted-in members. Rumah.com is an online media campaign that providesthe ideal search experience for all types of property: residential,commercial and industrial.
Rumah.comallows sellers and renters to place on its site propertyadvertisements which can be easily viewed by prospective buyers, whocan search for property based on location and / or price.
Formore information, please visit www.Rumah.com.