PropertyGuru acquires MyProperty Data to promote greater transparency in industry

KUALA LUMPUR: PropertyGuru Group (PropertyGuru) announced it has entered into a share purchase agreement with TechnoDex Bhd and Real Estate Solutions Sdn Bhd to fully acquire Malaysia’s largest online property data company, MyProperty Data Sdn Bhd.

With this acquisition, PropertyGuru, the country’s largest property website, bolsters its leadership and commitment in Malaysia.

PropertyGuru also becomes the provider of the most comprehensive property data and insights to agents, financial institutions, home buyers, credit rating agencies, valuers and property developers.

MyProperty Data provides property data analytics and insights leveraging over six million unique records across sales, rentals, auctions, new development and geospatial information along with proprietary datasets in demographics, location, liveability and more.

MyProperty Data solutions are endorsed by industry bodies such as The Association of Property Valuers, Property Managers, Estate Agents & Property Consultants in the Private Sector – Malaysia (PEPS), Malaysian Institute of Estate Agents (MIEA), and are utilised by major banks and over 1,200 valuation professionals in Malaysia.

PropertyGuru Group chief technology officer Manav Kamboj said, “Advancing on our mandate to serve Malaysians in their home ownership aspirations, we now focus on bringing transparency with data and are pleased to announce this acquisition as we move towards creating an integrated property ecosystem.

“Our goal is to empower Malaysians with accurate and easy access to data for every step of their property journey so that consumers can buy or sell property at the right market price and capitalise on potential gains in the future.

“Property Guru and My Property Data have a shared vision to promote greater transparency in the Malaysian property market through democratisation of property data. We started work on this vision together two years ago and launched Home Loan pre-Approval, to address Malaysia’s high loan rejection rates and home ownership issues.

“We are delighted to welcome Joe Thor ( MyProperty Data managing director) and the MyProperty Data team to PropertyGuru Group as we now collaborate to provide highquality real estate data and insight solutions for the entire industry - buyers, sellers, agents, developers, valuers and financial institutions.

“Over the next few months, we will be investing substantially to expand MyProperty Data’s offerings and it will also entail growing the team with data scientists, engineers, product managers, sales and marketing experts. We look forward to serving over 5 million home seekers who rely on PropertyGuru every month to find, finance, and own their home with greater confidence.’’

Combining the forces of MyProperty Data’s data and expertise with PropertyGuru’s proprietary market insights, its data science and technology capabilities, PropertyGuru would now serve Malaysia with high quality and most comprehensive property and geospatial data, insights and data-backed solutions for the property industry to manage growth opportunities, and improve business performance.

Agents are expected benefit from valuable insights on pricing trends as well as detailed home reports which they can share with customers.