PropertyGuru

Lewis Ng, who took over as chief executive officer of PropertyGuru in March, describes Malaysia's property market as "vibrant", and says tariff uncertainties in Vietnam have not doused interest in real estate there.

PropertyGuru says business has logged double-digit per cent growth in a year

The shedding of non-core assets following its privatisation, and strong performance in key markets are driving gains in adjusted Ebitda, says its CEO

From left: Lau Xin Yuan, co-founder and finance director of MilikiRumah; Marine Novita, co-founder and president director; and Winston Lee, co-founder and chief executive.

MilikiRumah eyes US$50 million fund to expand rent-to-own Indon programme

The proptech startup aims to bridge the financing gap for consumers often excluded from traditional mortgage systems

This is part of PropertyGuru’s adjustments to prioritise its marketplace business.

PropertyGuru axes 174 employees, shuts 3 business units

They are Sendhelper, data and software solutions, and PropertyGuru Finance

Krishnan says he has decided that “the time is right to pursue new interests and for the company to transition to new leadership”.

PropertyGuru CEO Hari Krishnan steps down

Former chief business officer Lewis Ng returns to helm the property consultancy

New York-listed PropertyGuru said on Aug 16 that it would be acquired by investment firm EQT for US$1.1 billion and be taken private.

Singapore competition watchdog clears EQT’s takeover of PropertyGuru

The watchdog says the proposed takeover is unlikely to substantially blunt competition in the digital real estate advertising services market

Revenue for the second quarter is up 10.3 per cent amid higher contributions from its marketplaces segment.

PropertyGuru sinks deeper into the red with S$16.1 million Q2 loss

Revenue rises 10.3 per cent to S$40.7 million, on higher contributions from its marketplaces segment

The EQT offer seems to be a reasonable one, with the implied price-to-sales multiple being in the middle of other publicly listed property portals.
COMMENTARY

Is PropertyGuru’s delisting good for South-east Asia’s tech scene?

PropertyGuru’s stint as a listed company might soon be coming to an end.

Private equity-controlled boards are more hands-on, tend to have highly relevant expertise, and are both bolder and more innovative.
THINKING ALOUD

Here’s what private equity may be getting right

A RECENT offer by private equity (PE) group EQT for property listings website operator PropertyGuru Group might have some wondering just what EQT sees in the loss-making company.

Private equity groups KKR and TPG, which hold a combined 56 per cent of PropertyGuru’s shares, have undertaken to sell their stake in the company in support of the merger.

NY-listed PropertyGuru to be delisted in US$1.1 billion acquisition by EQT Private Capital Asia

Deal comes two years after IPO in 2022; acquisition expected to be completed in the last quarter of 2024 or first quarter of 2025