Following the acquisition, the exhibition, which is one of Asia’s leading property event, will now be known as the iProperty.com EXPO while Keagen Group will hereafter be known as iProperty Events Sdn Bhd.
The acquisition of Keagen Group is valued at an initial RM1 million and is expected to rise to RM8 million over the next three years, said iProperty in a statement. The acquisition is part of iProperty Group’s aggressive expansion drive to firmly position itself as a leading property media and real estate services provider in South East Asia, said iProperty’s executive chairman Patrick Grove (pix).
iProperty has a presence in Singapore, Philippines and Hong Kong. On November last year, the company purchased Hong Kong’s leading property portals GoHome.com.hk and House18.com.
Grove said the acquisition represents a strategic move for the Group to gain a larger slice of property media space in the region. “The acquisition will enable us to carry out effective and efficient cross-promotional and cross-selling activities. It will also enable us to strengthen our relationship with property developers and investors throughout the region,” he said.
Grove added that the renaming of the exhibition to iProperty.com EXPO was in line with the Group’s efforts to unify its network of regional websites and related products under the iProperty.com brand.
He said it is also seeking to further strategically acquire leading property portals throughout regional markets and will soon acquire a leading online property portal in Thailand.
Meanwhile, Keagen Group’s managing director Antony Wong said that by leveraging on iProperty.com Group’s extensive network and large audience of property hunters, the exhibition series would be propelled to a significantly larger scale.
Established in 2005, the International Home Buyer and Property Investor exhibition has grown to be the leading mid- to high-end property related event, attracting over 80,000 people and
300 exhibitors including international developers, realtors and property related companies.
The 2008 edition of the exhibition ended in Hong Kong two weeks ago. In Malaysia, it will be held on July 25 to 27 at the Kuala Lumpur Convention Centre and in Singapore, on Nov 21 to 23 at the Suntec Singapore International Convention and Exhibition Centre.
iProperty.com is Asia’s leading network of property portals, with over 750,000 users every month (audited by Comscore, Frost & Sullivan and Alexa.com). The Group operates consumer and business online property portals in the Singapore, Malaysia, Hong Kong and Philippines markets.
iProperty.com has an average of over 100,000 property listings available on its network daily, and is used by more than 4,000 real estate agents and 100 developers.
The company is a wholly-owned subsidiary of Australian Stock Exchange-listed IPGA Limited, www.ipgalimited.com (ASX: IPP).
By theSun (by Tim Leonard)
Posts
No comments:
Post a Comment