[Agent] PropertyGuru deepens commitment to Thailand with the acquisition of thinkofliving.com and Prakard.com as part of larger transaction with REA Group
I hope this message finds you well.
I am delighted to share with you some exciting news. Today, we announced that PropertyGuru Group, the parent company for Thailand’s Number 1 property marketplace, DDproperty.com, will acquire all of REA Group’s property technology assets in Thailand – thinkofliving.com and Prakard.com and iProperty.com.my and brickz.my in Malaysia.
This is an exciting development for PropertyGuru and for our industry more widely. Both PropertyGuru and thinkofliving.com and Prakard.com share a mission of making homeownership in Thailand more accessible. Bringing thinkofliving.com and Prakard.com into the Group will enable us to combine resources and focus on achieving even faster innovation and provide more valuable solutions and services to you. We will be able to share even greater data solutions and insights and bring greater transparency and access to the entire Thai property market. The Group’s expanded customer base will also enable an even wider inclusion of Thai property agents, developers and financiers in the Southeast Asian property ecosystem.
We would like to reassure you that there will be no changes to your services with DDproperty.com and thinkofliving.com. You will have the same access to the services and support previously provided. In other words, it will be business as usual. PropertyGuru’s primary focus following this acquisition will be to work with thinkofliving.com and Prakard.com’s management teams to ensure smooth integration into PropertyGuru Group.
These acquisitions underpin PropertyGuru’s strategy of being the No. 1 Proptech Group in Southeast Asia and will accelerate PropertyGuru’s ambition of becoming the “Trust Platform” for the property ecosystem: A platform that connects Southeast Asia’s property industry into an efficient ecosystem – that builds trusted relationships between agents, property seekers, developers, valuers and banks by driving greater transparency and efficiency.
PropertyGuru is also excited to welcome REA Group as a strategic investor. They are a global company that deeply understands the digital property industry and they join a distinguished group of investors, including KKR and TPG. Their insight and expertise will help us achieve even faster growth and innovation and improve our platforms for the benefit of everyone in Thailand.
You will hear more from us in the weeks and months ahead as we work closely with the thinkofliving.com and Prakard.com teams and put in place a strategy that will enable us to provide even better solutions and services here in the Thai market.
For more information, here is the press release that was shared earlier today with media. Please feel free to contact our Customer Service at 0 2204 9555 if you have any questions.
Jeremy Williams (Chief Business Officer, PropertyGuru Group)
Kamolpat Swaengkit (Country Manager, DDproperty.com)