Southeast Asia is estimated to become the fourth largest economy in the world by 20304, driven by long-
\nterm macroeconomic trends, including urbanization, a rising middle class and digitalization. These favorable dynamics are creating significant opportunities in the region\u2019s property market as an increasingly affluent and digital-first population seeks property across the region.<\/p>\n
PropertyGuru has positioned itself to capture these growth opportunities through continued investment in its products and services to stay ahead of the evolving market and made a series of strategic acquisitions to add new capabilities and extend its leadership position. Over the last 18 months, the
\nCompany has:<\/p>\n
– Announced the acquisition of REA Group\u2019s Malaysia and Thailand assets. The transaction is expected to close by the end of July 2021 \u2013 mid-August 2021.<\/p>\n
– Acquired MyProperty Data, Malaysia\u2019s largest online property data company.<\/p>\n
– Introduced FastKey Storyteller \u2013 an immersive content experience that brings new projects to the buyer\u2019s doorstep for viewing and to express interest, without having to wait for the construction of the sales gallery.<\/p>\n
– Launched PropertyGuru Finance \u2013 a digital mortgage marketplace and brokerage that offers smart, frictionless home financing financial services.<\/p>\n
– Introduced PropertyGuru Lens \u2013 a visual search feature that allows users to find property in the real world through their smart phone camera.<\/p>\n
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The Company expects that its continued investments will enable it to emerge from the pandemic even
\nstronger. It also expects that the growth of its core offerings will allow it to successfully expand into
\nadjacent opportunities, such as Developer Operating Systems and Home Services.<\/p>\n
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Management Commentary<\/strong><\/p>\n Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group<\/strong>, said, \u201cWe have established a market leadership position in the Southeast Asian property ecosystem and a track record of revenue growth. Much of our success is the result of our investment in technology over the years and <\/p>\n Bridgetown 2 Holdings<\/strong><\/p>\n We have a story to be told and found the right partner to help us tell it to public market investors. We are delighted to partner with Bridgetown 2 as we accelerate our mission to be the trusted advisor for property. This process of becoming a public company will provide us with greater financial resources to do what we do best \u2013 helping people find, finance and own their homes in an efficient and transparent manner. We believe the strategic, proactive steps that we have taken over the past 18 months will enable us to stay ahead of the market\u2019s evolving needs, which are increasingly being shaped by the growth of affluent and digitally-enabled populations living in cities across Southeast Asia.\u201d<\/p>\n <\/p>\n Matt Danzeisen, Chairman, Bridgetown 2<\/strong>, said, \u201cWe evaluated a number of very impressive companies![\"\"](\"https:\/\/propholic.com\/wp-content\/uploads\/2021\/07\/Hari-V-Krishnan-CEO-MD-PropertyGuru-Group.jpg\")
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\ncapturing strategic growth opportunities in recent times.<\/p>\n
\nacross Southeast Asia and PropertyGuru is the perfect fit for us. The Company is a category leader and category creator \u2013 they helped define the PropTech industry in Southeast Asia and have taken it to new
\nheights by leveraging technology and data to create a trusted and transparent digital property marketplace. We believe PropertyGuru is just scratching the surface of what it can deliver as Southeast Asia\u2019s property market continues to accelerate, and we are excited to work with Hari and his talented team to capture the incredible opportunities that lie ahead.\u201d<\/p>\n