<article>Southeast Asian online property leader <a href="https://www.dealstreetasia.com/?s=PropertyGuru">PropertyGuru</a> reported strong group performance in the first six months of this year despite the adverse impact resulting from COVID-19 restrictions.</article>

Southeast Asian online property leader <a href="https://www.dealstreetasia.com/?s=PropertyGuru">PropertyGuru</a> reported strong group performance in the first six months of this year despite the adverse impact resulting from COVID-19 restrictions.
In an announcement released Wednesday, PropertyGuru said its total revenue in the January-June period grew by 17.9% from a year earlier to S$42.9 million ($31.4 million), even as its priority markets were being adversely impacted by the global pandemic.
The group’s adjusted EBITDA, however, was a loss of S$4.8 million but PropertyGuru said this was due to its increased investments in people and marketing as it seeks to emerge strongly from the pandemic period.
By market, Vietnam posted the highest H1 revenue growth at 29.5% to S$10.1 million, followed by Malaysia’s 17.4% revenue growth to S$4.2 million and Singapore’s 12.8% increase to S$25.4 million. Singapore remains its largest market by revenue and earnings.
&#8220;In Vietnam and Malaysia, the strict lockdown orders have significantly reduced real estate activity. These challenges have been partially offset by stronger than expected recovery in Singapore where the COVID-19 situation has been more stable,&#8221; according to the announcement.
As of June 30, 2021, the Group has more than 3.3 million listings, and more than 57,000 agents, on its platform.
However, the group has marginally reduced the full-year 2021 revenue outlook to approximately S$97.5 million, which would represent an 18.8% increase over 2020. Its full-year adjusted EBITDA expected loss remains unchanged at S$16.4 million.
&#8220;The group has taken into account the strength of its business while recognising the ongoing adverse impact of COVID-19 driven restrictions on its five markets,&#8221; as per the announcement.
PropertyGuru is set to list on the New York Stock Exchange in the first quarter of next year, via a $1.8 billion merger with special purpose acquisition company Bridgetown 2 Holdings, backed by billionaires Peter Thiel and Richard Li.
The company’s existing American shareholders TPG and KKR are expected to roll all of their equity into the combined company. Australia-listed REA Group also committed to an additional $32 million investment.
PropertyGuru‘s CEO and managing director Hari V. Krishnan earlier expressed confidence that the Southeast Asian online realty company’s US listing will take place in the first quarter of 2022 amidst a global waning interest in special purpose acquisition companies (SPACs).
In 2019, PropertyGuru made headlines when it scrapped its ASX listing plans, citing market uncertainties.

Southeast Asian online property leader PropertyGuru reported strong group performance in the first six months of this year.

PropertyGuru posts strong H1 performance but trims full-year outlook

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PropertyGuru posts strong H1 performance but trims full-year outlook

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