PropertyGuru Group has acquired ePropertyTrack, a leading new project sales and marketing company in Southeast Asia, for an undisclosed amount.
The deal is expected to strengthen PropertyGuru’s sales, marketing and data insights capabilities to the real estate industry, and comes on the back of the recent $175 million investment in the portal.
While new projects account for an estimated S$40 billion of annual real estate transactions in Southeast Asia, historically property developers and marketing agencies have not been able to easily coordinate such sales due to a lack of integrated inventory and marketing analytics.
With ePropertyTrack’s information-sharing platform, which covers over 90 percent of active new projects in Singapore, developers and agencies can make use of a range of services such as real-time views on project reservations during launch, registration of interest management, inventory management, floorplans/virtual tours/photos/video content management, promotion broadcasting, analytics reporting and sharing of information to agents.
In addition, ePropertyTrack also provides a multimedia interactive sales tool accessible on both desktop and mobile that facilitates sales discussions with prospective buyers and bookings of units directly with the developer in real-time.
Commenting, Steve Melhuish, CEO and co-founder of PropertyGuru, said: “Today, a growing number of top property developers and real estate agencies are using the ePropertyTrack service to market more than 500 new project launches in Southeast Asia. There are immediate synergies to be had from this acquisition, which is in line with our regional agenda to capitalise on the Southeast Asia property market potential, and our push for continued product innovation.”
“PropertyGuru’s market-leading position and expertise in Southeast Asia will accelerate our expansion in the region. This investment, coupled with PropertyGuru’s passion for innovation, will empower us to deliver enhanced and cutting-edge products to our users,” added ePropertyTrack founder Kunal Bagga.
Both companies will continue to work independently in the near-term, but there are plans underway to jointly develop new products and services regionally.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org