Singapore-based property technology group PropertyGuru has increased its investment in batdongsan.com.vn to hold a controlling stake in Viet Nam’s leading property portal, the two companies announced at a press conference in Ha Noi on Wednesday.
Accordingly, batdongsan.com.vn is now a fully consolidated member of PropertyGuru.
No financial details of the deal were disclosed.
PropertyGuru made its first strategic investment in batdongsan.com.vn in 2016 when the property portal was ranked first in South East Asia by traffic.
Batdongsan.com.vn had over four million monthly property seekers generating 70 million page views together with over one million new property listings added every month, statistics showed.
As a member of PropertyGuru, batdongsan.com.vn could open up regional opportunities for Vietnamese property seekers, investors, agents and developers to have easier access to PropertyGuru’s other markets including Singapore, Malaysia, Thailand and Indonesia.
Hari V. Krishnan, chief executive officer of PropertyGuru Group, said: “We look forward to making our regional expertise fully available to Vietnamese property seekers as well as to help the country’s real estate industry benefit from ASEAN integration.”
PropertyGuru would bring leading technology solutions to batdongsan.com.vn to deliver a quality property search experience to Vietnamese property buyers and business efficiency.
Le Xuan Truong, founder and managing director of batdongsan.com.vn: said: “Batdongsan.com.vn will be upgraded towards more professional and friendly services while accelerating the development of quality content in order to provide users and the market with exact and practical information."
Truong will continue to lead batdongsan.com.vn and work closely with PropertyGuru.
PropertyGuru owns property portals including PropertyGuru in Singapore and Malaysia, DDProperty.com in Thailand, Rumah.com in Indonesia. It has over 25 million property seekers every month.
The group also runs Asia’s most prestigious property awards brand “Asia Property Awards” in 11 key markets. — VNS