PropertyGuru acquires ePropertyTrack for an undisclosed amount

Visual from EpropertyTrack website

Fresh from a capital infusion of S$175 million, Singapore’s leading realty portal PropertyGuru Friday said it had acquired ePropertyTrack, a project sales and marketing company in Southeast Asia, for an undisclosed amount.

PropertyGuru said the deal will strengthen its sales, marketing and data insights capabilities for the real estate industry. The development comes within a month of the portal raising S$175 million ($130 million) from a consortium of investors including leading private equity firm TPG, Indonesia’s largest media group Emtek and Asia Pacific-based tech venture capital firm Square Peg Capital.

Also Read: Online property portal PropertyGuru bags $130 million investment

While both companies will continue to work independently in the near-term, PropertyGuru said that plans were already underway to jointly develop new products and services regionally.

Even as 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, the portal said.

Further, explaining the rationale behind the deal, PropertyGuru said: “With ePropertyTrack’s information-sharing platform, which covers over 90 per cent 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.”

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.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.