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European group invests in PropertyGuru

Zafar Anjum | June 7, 2012
This is said to be one of the biggest online deals in Asia this year.

PropertyGuru has secured a double digit million Singapore dollar strategic investment from ImmobilienScout24 announced the property portal group.

ImmobilienScout24 is a European property portal group and a subsidiary of global company Deutsche Telekom. PropertyGuru is Asia's leading property portal group with a presence in nine countries, directly and indirectly via partners. The company's websites are used by 8.2 million buyers, viewing over 65 million property pages and generating over 200,000 sales enquiries for advertisers every month.

This is one of the biggest online deals in Asia this year, and re-enforces the rapidly emerging online media opportunity in Southeast Asia, said the property company.

"This shareholding is part of our internationalisation strategy to invest early on in emerging countries with strong growth and to establish the use of the Internet as a central and most effective instrument for seeking and marketing real estate," said Marc Stilke, CEO at ImmobilienScout24. "We have built up Germany's leading real estate marketplace and we are pleased to contribute this know-how to our cooperation with PropertyGuru."

 

 

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