PropertyGuru to Acquire REA Group’s Malaysia, Thailand Units

Australia’s REA Group to gain 18% stake in PropertyGuru
The acquisition aims to capture rapid digital growth in region

WATCH: Hari Krishnan, chief executive officer of PropertyGuru Pte, discusses his company's biggest acquisition in its 14-year history.(Source: Bloomberg)

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By Yoolim Lee

May 30, 2021 at 11:50 PM UTC

Updated on

May 31, 2021 at 4:45 AM UTC

This article is for subscribers only.

Singapore real estate startup PropertyGuru Pte has agreed to acquire all of the shares in REA Group Ltd.’s operating entities in Malaysia and Thailand, marking the biggest acquisition in its 14-year history.

PropertyGuru will take over iProperty.com.my and Brickz.my in Malaysia and thinkofliving.com and Prakard.com in Thailand from Australia’s REA Group, the Southeast Asian company said in a statement on Monday. As part of the deal, REA, which is majority-owned by Rupert Murdoch’s News Corp. empire, will get an 18% equity interest in PropertyGuru and appoint a director to its board. No price has been disclosed for the deal.