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PropertyGuru Makes Strategic Investment In Vietnam's Top Property Portal

Last update: 04/10/2016

KUALA LUMPUR, Oct 4 (Bernama) -- PropertyGuru Group, Asia's leading online property group, has made a strategic investment in Batdongsan.com.vn (Batdongsan), Vietnam's number one property site.

Batdongsan is used by over two million people in Vietnam every month, with four times more monthly visits than its nearest competitor.

It features the most property listings for consumers with over 1.9 million choices, as of 2015, and the highest number of agent clients in the market of over 80,000 as of 2016.

The investment gave the group two seats on the board of directors and made it one of the key shareholders of the Vietnamese portal, PropertyGuru said in a statement.

Batdongsan Founder and Managing General Director Le Xuan Tru?ng would continue to operate the business and keep a significant stake in the company.

The investment also advanced PropertyGuru's delivery on its Southeast Asia growth agenda and added another core market to its existing portfolio of leading property sites in the region.

"Our property portals have become the number one choice in Singapore, Malaysia, Thailand and Indonesia and we have been looking to add a fifth market to our portals portfolio.

"We are excited about this investment as it increases our foothold in one of the largest and fastest growing countries in Southeast Asia," said Executive Director and Co-Founder Jani Rautiainen.

In the first half of 2016, Vietnam's Gross Domestic Product grew 5.5 per cent and was expected to continue growing between 6.0 and 6.5 per cent from 2016 to 2020.

-- BERNAMA