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iProperty buys thinkproperty for RM6M Print E-mail
Monday, 30 August 2010 17:45

IPGA Ltd, which operates iProperty.com.my, has acquired Think Media Sdn Bhd, owner and operator of thinkproperty.com.my, for A$2.08 million (RM6 million).

The thinkproperty portal has more than 4,500 agents advertising 80,000 properties for sale or rent, and received 178,000 visitors in May this year.

IPGA chief executive officer Shaun Di Gregorio said it will continue to run thinkproperty as an individual website as the portal has its own unique visitors of real estate sellers and buyers as well as active property forum and blogging community.

“We’ve identified improvements to the portal and expect to deliver better results for consumers and advertisers,” he said, adding Malaysia is one of IPGA’s core markets alongside Singapore and Hong Kong and the acquisition further consolidates its leadership position locally and regionally.

“The acquisition, which follows the purchase of SG-house in Singapore in June, shows our commitment to be clear market leaders in Malaysia, Singapore and Hong Kong,” he noted.

Source: NSTOnline



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