PropertyGuru Group, Asia’s leading online property group of which DDproperty.com is a part, has announced a joint-venture with PT. Kreatif Media Karya (KMK), the digital business unit of Indonesia’s leading integrated media firm Emtek Group.
The partnership will further strengthen PropertyGuru’s market leadership in Indonesia where it operates under the Rumah.com brand. Rumah.com serves more than two million property buyers and attracts more than 15 million page views every month.
Under the agreement, KMK will acquire a minority equity interest in PropertyGuru’s Indonesian entity. KMK and PropertyGuru will partner on strategic and business development initiatives to further accelerate the growth of Rumah.com, while KMK will provide access to Emtek’s media platforms – including television and digital.
PropertyGuru and KMK will also work together on joint sales initiatives which will support both online and mobile initiatives.
Jessica Effendi, Head of Operations for Rumah.com, said: “Rumah.com welcomes this cooperation with Emtek Group with great enthusiasm. Rumah.com has been on a phenomenal growth path, garnering the largest number of property listings. The joint venture with an esteemed partner as Emtek will propel us forward in our journey of success.”
Steve Melhuish, Chief Executive Officer and Co-Founder PropertyGuru, added: “I’m confident our partnership with KMK will further accelerate our market leadership position in Indonesia – Southsast Asia’s biggest market.”
Adi Sariaatmadja, Chief Executive Officer of KMK, added: “We are very excited to enter the high growth Indonesian online property market with Rumah.com, helping to match families looking for homes with sellers or new property developers.
“Working together, we believe that we can enhance the market leadership position of Rumah.com whilst creating significant value for KMK’s online business in the process. We are delighted to be partnering with ProperyGuru who have demonstrated their substantial expertise in online real estate property search across various Southeast Asian markets.”
Image: PropertyGuru Chief Executive Officer (left) and Adi Sariaatmadja, Chief Executive Officer of KMK, at the joint-venture signing ceremony.
Andrew Batt, International Group Editor of PropertyGuru Group, edited this story. To contact him about this or other stories email andrew@propertyguru.com.sg
