Manav Kamboj, CTO of PropertyGuru
Singapore-headquartered PropertyGuru Group announced it has fully acquired MyProperty Data, one of Malaysia’s largest online property data companies.
As per a press release, the acquisition was completed through a share purchase agreement between the two firms.
With this deal, PropertyGuru aims to “strengthen its commitment” in Malaysia and provide property data and insights to various stakeholders — ranging from agents and financial institutions to home buyers and credit rating agencies.
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Manav Kamboj, CTO of PropertyGuru, said: “Advancing on our mandate to serve Malaysians in their homeownership aspirations, we now focus on bringing transparency with data and are pleased to announce this acquisition as we move towards creating an integrated property ecosystem.”
“Our goal is to empower Malaysians with accurate and easy access to data for every step of their property journey so that consumers can buy or sell the property at the right market price and capitalise on potential gains in the future,” he added.
Kamboj further shared the group will be investing to expand MyProperty Data’s offerings and seek to expand its team in a wide variety of roles ranging from data scientists and engineers to product managers and marketing experts.
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Joe Hock Thor, Managing Director, MyPropertyData, said: “This acquisition advances the goal we share with PropertyGuru — empowering Malaysians with accurate transaction data so that they neither overpay nor underpay when making decisions.”
“PropertyGuru is no stranger to us as we have collaborated on many occasions, such as in developing a Pricing Insight exclusive to PropertyGuru in 2018 and the Home Loan Pre Approval in 2019. It was natural for us to further collaborate and we are delighted to join the Group,” Joe elaborated.
MyProperty Data claims it provides property data analytics and insights leveraging over six million unique records across sales, rentals, auctions, new development and geospatial information along with proprietary datasets in demographics, location, liveability and more.
Its solutions are utilised by major banks and over 1,200 valuation professionals in Malaysia.
“Moving into 2021, the pandemic has accelerated the adoption of digital demand in every arena, including property. Our goal is to use data to enable homeownership in Malaysia, to help consumers make more informed buying, selling, renting decisions and we look forward to partnering with agents, developers, financial institutions and valuers in the industry to work towards achieving this goal,” added Kamboj.
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PropertyGuru is one of the oldest proptech players in Southeast Asia, with a deep pocket. In September, PropertyGuru Group announced a US$220 million in fresh investment round, led by leading global investment firms global private equity giants TPG and KKR.
In October 2019, the company had to defer its proposed IPO plans on the Australian Securities Exchange due to the unfavourable market conditions back then.
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Image Credit: PropertyGuru
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