Set to build Malaysia's leading property portal
PropertyGuru Group, owners of Singapore's leading property websites, www.PropertyGuru.com.sg and www.CommercialGuru.com.sg, have signed a joint venture with Redberry, a dynamic media company in Malaysia who professionally manages some of Malaysia’s most renowned cross-media platforms from newspapers, television, airport advertising, out-of-home spectacular billboards along major highways and city road arteries; retail advertising at hypermarkets and 24-hour convenience stores; KL City Rapid buses, key sports and music events, and news content (http://www.redberry.com.my).
The partnership will see Redberry providing a relevant cross-media platform and strategic business marketing solutions for PropertyGuru Group’s expansion into Malaysia, especially with the launch of www.HomeGuru.com.my, Malaysia's latest property portal, which features over 50,000 residential and commercial properties for sale and rent in Malaysia.
Under the joint venture, Redberry will hold a stake in PropertyGuru Group’s Malaysian entity; the latter will invest cash, technology, branding, sales and marketing, its award-winning platform, products, Internet and real estate expertise. PropertyGuru Group will also gain access to Redberry’s various media platforms, comprising The Malay Mail, The Malaysian Reserve, Bernama TV and out-of-home TV digital media such as Focus Media, as well as outdoor media on buses and in airports.
"We are delighted to strategically join forces with PropertyGuru Group to create Malaysia's leading online real estate business because it is aligned with one of our corporate mission to be relevant to our media consumer. And today, getting the first home is a real struggle for young urban family community. This is a perfect combination of AllProperty's extensive experience and expertise as Singapore's market leading real estate sites along with Redberry's high reaching, relevant multimedia platforms; local market insight and business strategy to promote and grow the real estate market in Malaysia and Singapore," stated Redberry Group COO, David Ho, who has more than two decades of experience in the marketing communication industry.
Undoubtedly significant is PropertyGuru Group’s award-winning emphasis on innovation, which, together with its media expertise and experience, will likely result in partnerships between both parties to develop real estate / home-related content, as well as advertising products and services.
"We are excited about partnering with Redberry. This JV will further accelerate our expansion into Malaysia and help establish HomeGuru as Malaysia's leading real estate site. As well as leveraging Redberry's extensive media reach, we see exciting opportunities to collaborate editorially," stated Steve Melhuish, CEO PropertyGuru Group.
The announcement of this partnership comes a week after news that PropertyGuru Group had agreed to acquire FullHouse Media Sdn Bhd, owner of North Malaysia’s top property portal, Fullhouse.com.my, to further its expansion into Penang and the other northern states.
Currently, PropertyGuru Group owns and operates the leading sites www.PropertyGuru.com.sg, www.CommercialGuru.com.sg and www.LoanGuru.com.sg. PropertyGuru and CommercialGuru provide users with the most comprehensive and convenient search experience, with the latter focused on commercial property. LoanGuru, launched in January 2010, works with experienced mortgage consultants to help users find the best mortgage plan for their individual needs.
PropertyGuru Group has also expanded internationally, and has been working with a large number of the top agencies and developers in Malaysia for over two years. At the same time, PropertyGuru serves over 1.7 million home buyers monthly, of which more than 150,000 are from overseas.
Aside from its foray into Malaysia, AllProperty partners with leading overseas property portals, such as 99acres, India’s top property portal, Australia’s REA Group (owner of leading Australian real estate site, realeastate.com.au and Hong Kong’s squarefoot.com.hk) and vproperty.mo, one of Macau’s most popular websites – to provide additional international exposure for its advertisers.
2010 was a successful year for PropertyGuru Group, with 70% growth in traffic, triple revenue growth, widespread coverage in mainstream media and launch of many new products and businesses, such as the iPhone, CommercialGuru, LoanGuru and agent Facebook application launches.
Most recently, PropertyGuru won the inaugural Singapore Venture Capital and Private Equity Association (SVCA) award for Best Performing Company 2010 and the Singapore Infocomm Technology Federation (SiTF) award for Best E-Enterprise Company for 2010.
— END —
Media Contacts:
PropertyGuru Pte. Ltd.
Ms. Winnie Khoo
Tel: 6238 5971 (O) / 9004 1669 (HP)
Email: winnie@propertyguru.com.sg
Redberry Sdn Bhd
Mr. Siew Yuen Tuck
Email: ytsiew@redberry.com.my
About PropertyGuru International (Malaysia) Sdn. Bhd.:
PropertyGuru Group is a Singapore firm founded in 2006 by two successful entrepreneurs. The company is best known for running www.PropertyGuru.com.sg, Singapore’s leading property site (sources: Hitwise, Alexa and Google AdPlanner). 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 200 mortgage deals at any time. The company just launched www.HomeGuru.com.my, a platform to identify available properties in Malaysia for purchase, sale, rental or investments, and a direct channel to search for
and contact agents for assistance.
In 2010, PropertyGuru Group won the Singapore IT Federation (SITF) award for “Best E-Enterprise Company 2010”, Singapore Venture Capital Association (SVCA) “Best Performing VC Backed Company 2010” and Marketing Magazine “Top 10 Digital Media 2010”. The Company also picked up the “CNBC World’s Best Property Award 2009”, “Best Property Portal Asia Pacific 2009” and “Best Property Portal Singapore Award” in 2008 and 2009 for its www.PropertyGuru.com.sg website.
www.PropertyGuru.com.sg is used by over 1.7 million consumers who view 27 million pages and generate over 150,000 leads for advertisers every month. The user-base has grown 70 percent in the last 12 months. The site provides real time access to multimedia-rich content, covering property and home-related products, services, news, advice, guides, tools and the largest online property database in Singapore. It works closely with prominent real estate developers in Singapore and overseas and over 21,000 housing agents and home-related firms.
www.CommercialGuru.com.sg was launched in August 2010 and is used by 100,000 business users and investors, browsing one million pages and generating 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 and is an independent online mortgage brokerage providing real time access to over 200 mortgage packages from over 22 banks. It generates over 500 loan leads per month.
www.HomeGuru.com.my is a Malaysian property portal launched in January 2011, as part of a joint venture between PropertyGuru Pte. Ltd., Singapore and RedBerry, Malaysia. The portal provides consumers a platform to identify available properties for purchase, sale, rental or investments, and a direct channel to search for and contact agents for assistance. Designed with the end-user in mind, the portal boosts 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 in Malaysia and overseas, housing agents and home-related firms.
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, and www.HomeGuru.com.my.
About Redberry:
Redberry is a media and entertainment group that owns and operates some of Malaysia’s most respected and relevant media properties, delivering integrated communications solutions across multiple media platforms, from TV to out-of-home, retail, print and more. Operators of Bernama TV, Malaysia’s only 24-hour news channel which reaches 3 Million households, Redberry also owns the country’s oldest newspaper, The Malay Mail and the country’s most influential all-business daily, The Malaysian Reserve. As the exclusive concession holder for Malaysia’s major highways and its airports, the out-of-home solutions business, which includes Focus Media, Pointcast and Meru Utama reaches over 900,000 people every day along with millions of visitors to Malaysia every year.
Redberry is more than a media powerhouse with diverse business and consumer channels, it is a strategic solutions partner for marketers and advertisers seeking bespoke creative media solutions. The company’s philosophy, "Rethink your world" is more than just a slogan - it is a mantra that aims to inspire, a promise to challenge the confines of convention. For more information, Google "redberry media" or go to http://www.redberry.com.my.