Emtek Group Takes Part in Big Investment For PropertyGuru

PropertyGuru Group announced today that it has received an investment injection of S$175 million from a strategic consortium of three investors consisting of TGP, Emtek Group and Squre Peg Capital. This investment is the largest in the sector tech startups Southeast Asia this year. From release published, this investment will be used to support PropertyGuru's innovations, including the development of marketing strategies and strengthening of marketing areas.

The three investors have a fairly strong track record in the sector tech startups and will join the ranks advisory board at PropertyGuru. This investment transaction is projected to close in mid-June.

Emtek Group itself has also become a strategic partner to build the PropertyGuru market in Indonesia and with this investment, Emtek hopes to strengthen relationships for the potential development of online property portals in Indonesia. Emtek Group Commissioner Jay Wacher in his official release said that PropertyGuru fundamentally presents the first opportunity for Emtek to deepen exposure to online business.

In Indonesia the PropertyGuru property is a portal home.com which is operated as a joint venture of PropertyGuru Group and a subsidiary of Emtek Group. From the beginning of the release of Rumah.com, his party was optimistic about the housing growth trend real estate market in Indonesia, which in the last five years has continued to grow by 10-15 percent. The number of property agents in Indonesia is also one of the opportunities for the Rumah.com-style property portal to manage the advertising investment that is disbursed by each vendor.

In Southeast Asia, Singapore and Thailand are the fields for the PropertyGuru Group to make a profit. From the report released, currently the online property portal already has consumer visits reaching 11 million per month, with traffic growth of 28 percent per year. Transaction value real estate market through the platform is claimed to have reached the figure of S $ 14 billion per year.

"PropertyGuru has built track record on a vision of consumer-centric innovation that empowers people to make better decisions when it comes to property choices. We will leverage this investment to maximize the potential of the property market in Southeast Asia, and developments in the digital space will continue on our regional agenda," said Steve Melhuish, CEO and Co-Founder of PropertyGuru.