KUALA LUMPUR, 9 July 2015: PropertyGuru Group or PropertyGuru, Asia’s leading online property portal group, announced today that it has acquired ePropertyTrack, Southeast Asia’s leading new project sales and marketing company, for an undisclosed amount.
With this acquisition, the Group aims to expand its services portfolio by offering high-value new project marketing services to real estate developers, marketing agencies and property agents.
This deal comes on the back of the recent SGD$175 million investment in the PropertyGuru; the largest in the technology sector in Southeast Asia this year.
Covering over 90% of active new projects in Singapore, ePropertyTrack essentially helps developers and agencies streamline the sales and marketing process of their new projects by facilitating information-sharing and driving business operations efficiency for all parties.
This includes 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 marketing agencies and agents.
ePropertyTrack’s services also support real estate agencies and agents by providing a multi-media interactive sales tool. The tool is accessible on both desktop and mobile and 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.”
New projects play a key role in Southeast Asia’s real estate markets with an estimated S$40 billion of transactions occurring annually.
Historically, real estate developers and marketing agencies have not been able to easily coordinate their new project sales. This has been due to a lack of integrated inventory and marketing analytics. ePropertyTrack’s information-sharing platform has solved that as it helps developers and marketing agencies operate as one cohesive unit.
The solution provides sales leads for agents and helps them track and nurture these to prospects. A live booking system helps these agents connect with developers and close sales anytime, anywhere.
Analytics and reports facilitate decision-making and enhance operational efficiency for agents, marketing agencies, developers and buyers at each stage.
“We are excited to be a part of PropertyGuru Group. PropertyGuru’s market-leading position and expertise in Southeast Asia will accelerate our expansion in the region. This investment, coupled with PropertyGuru’s passion for innovation, will empower us to deliver enhanced and cutting-edge products to our users,” said Kunal Bagga, Founder, ePropertyTrack.
Post-acquisition, ePropertyTrack teams in Kuala Lumpur and Singapore will be integrated into PropertyGuru’s local offices and while both companies will continue to work independently in the near-term, there are plans underway for joint development of products and services and roll-out of new projects regionally.