In a statement today, PropertyGuru said the move underscores the rising importance of Malaysia in Southeast Asia’s property technology (proptech) industry in general and for PropertyGuru in specific. It added that a key objective of the transaction is to accelerate the development of the proptech industry in Malaysia. REA Group CEO Owen Wilson said joining with the PropertyGuru group creates new opportunities for collaboration and access to a deeper pool of expertise, technology and investment. “It positions these already strong brands well to accelerate the next wave of proptech innovation in Southeast Asia,” he said. Meanwhile, PropertyGuru Malaysia country manager Sheldon Fernandez said Malaysians had shown a strong preference for the tools and services PropertyGuru and iProperty provide to make property searches, pricing and financing options more transparent and accessible.

Source: The Edge Markets May 31, 2021 04:18 UTC