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Peter Lim buys 20% stake in new property portal
SINGAPORE tycoon investor Peter Lim has bought a 20 per cent stake in TheEdgeProperty.com, the new property portal of Malaysia's The Edge Media Group, for an undisclosed sum.
The EdgeProperty.com was launched in Malaysia on May 7, and will officially make its debut in Singapore on July 25.
Mr Lim had previously also invested in Valencia football club, Thomson Medical Centre, FJ Benjamin, and McLaren. The latest investment is his first in the technology sector.
"This unique internet technology enables and helps existing shareholders strengthen their business," Mr Lim said in a press release.
"The business model is not disruptive and it is aligned to the interests of property agents, developers, banks, and public users. Growth prospects are good because it's very scalable and revenue generation is immediate."
The property portal's fundamental strength is that it enables existing stakeholders to succeed, he added.