In a statement, iProperty said the portal, owned by Horizon Infoventures Private Ltd, boasts over 211,000 property listings on its website and has about 100,000 visitors monthly.
“It has huge potential for growth and we are very excited to have the opportunity to work with the talented, dedicated and motivated local team to rapidly consolidate the market position of RealAcres.com and move to dominate the India market in due course,” said executive chairman Patrick Grove.
iProperty said the portal which is in Mumbai had also launched "RealAcres TV Shows" early this year, a new segment featuring online television interviews with various top builders, developers and real estate experts.
“We firmly believe that application of our vast experience to the exciting, high-growth India market will allow us a fantastic opportunity for enormous success,” he said.
The acquisition also follows the launch of Asia’s first regional luxury property website iLuxuryasia.com.
“The iProperty.com Group expects to bring its suite of print, exhibition and online luxury products to the India market in partnership with RealAcres.com in due course,” it said.
By Bernama
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