In June, PropertyGuru received a US$124.1M investment and acquired marketing company ePropertyTrack in July
PropertyGuru announced today the acquisition of Indonesian real estate portal RumahDijual.com for an undisclosed amount — giving the Singapore-based property website a 43 per cent market share in Indonesia.
With the purchase, PropertyGuru will be getting close to 500,000 listings in a country that has clearly become a major part of the company’s future plans.
Furthermore, when RumahDijual.com is coupled with PropertyGuru’s Indonesian site, Rumah.com, 5.5 million people will visit the Singaporean web portal per month (translating to about 30 million monthly page views). The acquisition now makes Indonesia the second-largest traffic market for the company.
“Together with our local partner, Emtek, we have earmarked tens of millions of dollars in the coming years to bring further innovations to the Indonesian market, to help solidify our market leadership,” said PropertyGuru CEO and Co-founder Steve Melhuish in an official statement.
Emtek invested S$175 million (US$124.1 million) into PropertyGuru in June 2015.
The 10-year old company is a major player in Southeast Asia’s online housing portal scene. It boasts a market share of 91.8 per cent in Singapore, 52.7 per cent in Thailand and 40.2 per cent in Malaysia.
Before the acquisition of RumahDijual.com, which translates to ‘house for sale’, PropertyGuru’s Rumah.com was also trending positive in Indonesia. It had grown 22 per cent year-on-year while a shift in investment and focus led to a 53 per cent growth in mobile traffic.
Macroeconomic statistics for Indonesia help explain the attractiveness for a property company. Notably, more than half of the country lives in cities and the urbanisation rate is 2.69 per cent per annum. For comparison, Thailand and Malaysia have similar urbanisation numbers but much smaller populations. (CIA WorldFactbook)
PropertyGuru acquired the Singaporean marketing company ePropertyTrack for an undisclosed amount in July.
Yesterday, PropertyGuru Malaysia held a charity art auction in Kuala Lumpur to support the Agathian Shelter and Rainbow Home.
RumahDijual.com was founded in 2010 by Yohanes Aristianto.
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