PropertyGuru buys Thai website DDProperty.com

The group plans to invest a further US$2.68 million to confirm the website’s position.

Tanomsak Khancharoen, co-founder of DDProperty.com, confirmed that PropertyGuru, which currently appears in eight countries, has gained a stake in DDProperty.com and is committing to expend and strengthen its online property business in Thailand.

“This partnership happened because both PropertyGuru and DDProperty.com share the same business goal and see the huge growth potential in Thailand’s online property market. Together we aim to support and develop DDProperty.com and uphold its status," Tanomsak said. He added that, PropertyGuru was bringing to DDProperty its experience, innovative technology and manpower. Consumers could also expect new and improved search engines.

Steve Melhuish, CEO of PropertyGuru Group, says the overall online advertising sector is worth US$50 milion a year, with a growth rate of over 20 per cent over the last 12 months.

“This acquisiation gives PropertyGuru a unique regional marketing capability to real estate developers and agencies wishing to target buyers in multiple Asian countries, including Singapore, Indonesia, Malaysia, Thailand, Australia, India, Macau and Hong Kong”