KUALA LUMPUR – PropertyGuru Group, (PropertyGuru or the Group), announced on November 27 that it entered into a share purchase agreement with TechnoDex Berhad and Real Estate Solutions Sdn. Bhd. to fully acquire Malaysia’s largest online property data company, MyProperty Data Sdn Bhd.
With this acquisition, PropertyGuru, the country’s largest property website, bolsters its leadership and commitment in Malaysia. PropertyGuru, that already offers the most home choices to Malaysians has also become the provider of the most comprehensive property data and insights to agents, financial institutions, home buyers, credit rating agencies, valuers and property developers.
MyProperty Data 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.
MyProperty Data solutions are endorsed by industry bodies such as The Association of Property Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector – Malaysia (PEPS); Malaysian Institute of Estate Agents (MIEA), and are utilised by major banks and over 1,200 valuation professionals in Malaysia.
PropertyGuru and MyProperty Data have a shared vision to promote greater transparency in the Malaysian property market through democratization of property data. We started work on this vision together two years ago and launched Home Loan pre-Approval, to address Malaysia’s high loan rejection rates and home ownership issues.
Combining the forces of MyProperty Data’s data and expertise with PropertyGuru’s proprietary market insights, its data science and technology capabilities, PropertyGuru will now serve Malaysia with high quality and most comprehensive property and geospatial data, insights and data-backed solutions for the property industry to manage growth opportunities, and improve business performance.
Agents will benefit from valuable insights on pricing trends as well as detailed home reports which they can share with customers. Financial institutions and valuers will benefit from MyProperty Data’s proprietary property valuation management tools to better manage risks and achieve greater efficiency.
Market intelligence on locations, upcoming projects, amenities, and demographics will enable property developers to plan future projects. Malaysian home buyers will benefit the most from this ease of access and transparency on real-time transaction data and other factors that influence property valuations and their buying decisions.
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 further elaborated.
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