Batdongsan.com.vn – Vietnam’s leading property portal with the largest number of visits in Southeast Asia - has officially joined Asia's largest property technology group - PropertyGuru. The consolidation into PropertyGuru Group helps Batdongsan.com.vn open up greater opportunities at the regional level for property seekers, investors, distributors and developers in Vietnam.
This information is formally announced at a press conference held this morning (Oct 31) in Hanoi. No detail of the deal's financial terms is disclosed, but PropertyGuru has significantly increased its investment in Batdongsan.com.vn. Le Xuan Truong, who is Batdongsan.com.vn’s founder and CEO, will continue to lead the business and work closely with PropertyGuru’s management team. This full consolidation emphasizes PropertyGuru’s commitment to investing in Vietnam, based on the existing partnership with Batdongsan.com.vn since 2016.
Batdongsan.com.vn officially joins Asia’s largest property technology group - PropertyGuru
Batdongsan.com.vn has officially become part of PropertyGuru Group, which owns the leading real estate portals: PropertyGuru in Singapore and Malaysia, DDproperty.com in Thailand, and Rumah.com in Indonesia. PropertyGuru currently occupies 55% of market share in the Southeast Asian’s online property market. The group also owns Asia’s most prestigious awards brand - Asia Property Awards. The award program is now presenting in 11 key markets throughout Asia, including Vietnam.
Currently, Batdongsan.com.vn has over 4 million users, 70 million page views and about 1 million real estate listings per month. The success is contributed by more than 600 employees across 9 provinces in Vietnam. Batdongsan.com.vn has been leading the market since 2010 and the consolidation with PropertyGuru opens new opportunities for the real estate industry in Vietnam as well as South East Asia.
Vietnam is known as an attractive destination for real estate investment in Southeast Asia. As a member of PropertyGuru, Batdongsan.com.vn will be the driving force to open up opportunities at the regional level for property seekers, investors, distributors and developers in Vietnam. Batdongsan.com.vn can easily access database of potential buyers in other markets such as Singapore, Malaysia, Thailand and Indonesia. Buyers, sellers as well as the Vietnam’s real estate market will benefit from PropertyGuru's innovative solutions.
The consolidation into PropertyGuru Group helps Batdongsan.com.vn open up
greater opportunities at the regional level
Hari V. Krishnan, CEO of PropertyGuru, said: "PropertyGuru is a leading real estate technology group with rapid growth in Southeast Asia. Over a decade leading Southeast Asia market, 2018 is a record year for the group's business performance with sales up 25% over the previous year. "
"We have invested in Batdongsan.com.vn since 2016 and are very impressed with the way they lead the market and bring great value to Vietnam real estate industry. Today, we reinforce our commitment to Vietnam through the integration with Batdongsan.com.vn. We look forward to bringing our experience in Southeast Asia market to Vietnamese users, property seekers, and your country's property industry will also benefit from its integration with ASEAN," Hari added.
Le Xuan Truong, founder and CEO of Batdongsan.com.vn, said: "Batdongsan.com.vn and PropertyGuru Group have had a long-standing partnership and we are very grateful to tighten the relationship between the two sides with PropertyGuru’s increasing investment in our company. Batdongsan.com.vn has been leading the Vietnam market for many years and we will continue to remain this position. We are very proud of the success we have achieved and look forward to a new era of growth when Batdongsan.com.vn becomes part of the Asia’s leading online real estate group. PropertyGuru will support us more in terms of technology and bring new opportunities in Southeast Asia, which will better meet the needs of real estate seekers in one of the fastest growing markets like Vietnam."
Truong also stressed: "Batdongsan.com.vn will be upgraded to be more professional and friendly in the coming time, as well as promote the development of quality content to provide more accurate information to users. In addition, Batdongsan.com.vn will provide more services and solutions for the market including customers, users and developers."
"We are committed to the next growth phase of Batdongsan.com.vn," said Jeremy Williams, COO at PropertyGuru. “The main focus of PropertyGuru is to provide innovative solutions for both property seekers and sellers, and that is the key to our success in markets. We will bring leading technology solutions to Batdongsan.com.vn, and quality real estate search experience for Vietnamese property buyers and business efficiency to clients. Batdongsan.com.vn’s team has done a great job in building and maintaining a leading position as well as a solid business development. We look forward to working closely with their human resources and supporting their future growth."