KUALA LUMPUR, MALAYSIA, 20 August 2008 – Following the launch of Asia’s first regional luxury property website – iLuxuryasia.com (www.iluxuryasia.com), the iProperty.com Group, owner of Asia’s leading network of property portals, as well Malaysia’s No. 1 real estate website, iProperty.com Malaysia (www.iproperty.com.my), has acquired a controlling stake in Info-Portal Tech International Company Limited, owner of the No. 1 property buying website in Taiwan, VRHouse.com.tw (www.vrhouse.com.tw).
VRHouse.com.tw is the No. 1 online property portal in Taiwan as measured by user traffic, developer clients and revenue. Info-Portal Tech International Company Limited is based in Taipei and operates VRHouse.com.tw and all its related sites, which are Chinese language based. In total, over 225,000 unique users view and use VRHouse.com.tw’s property listings and services each month.
Patrick Grove, Executive Chairman of the iProperty.com Group, noted, "We are delighted with the acquisition of VRHouse.com.tw in Taiwan. Our experience in Malaysia, Singapore, Hong Kong and the Philippines allows us to bring a strong value-add proposition to VRHouse.com.tw. We also look forward to working with the dynamic, entrepreneurial local team to further dominate the Taiwan market and the region at large,” he said.
“Most importantly, this acquisition completes our ownership of market-leading property portals across the Chinese diaspora in the region. We now hold the unique position of operating the leading online property portals in all the Chinese-speaking markets in this region ex-China, allowing us an exceptional strategic opportunity. Taiwan’s broadband penetration is exceptional and recent moves to open the market to mainland Chinese investment means nothing but good news is on the horizon for the property market in Taiwan.”
“We are extremely pleased that we have been able to acquire the clear leader in the Taiwan online property market. iProperty.com’s regional sites and listings network is now viewed by over 1 million unique users in Asia Pacific each month”, said Mr. Grove.
“We are further excited by the recent political events and strengthening of ties with China which is expected to lead to a significant increase in mainland Chinese investing in Taiwanese property. We plan to position VRHouse.com.tw as a key media property that facilitates this process,” he added.
Said Jackson Cheng, Chairman of Info-Portal Tech International Company Limited, “We are extremely excited by this transaction and believe that under the iProperty.com umbrella, VRHouse.com.tw’s efforts to continue to grow and dominate the online property market in Taiwan will be greatly boosted.”
The acquisition of VRHouse.com.tw sees iProperty.com Group add to its market-leading online property operations in Singapore, Malaysia, Hong Kong and the Philippines, and represents the latest in a string of acquisitions since its listing on 11 September 2007.
The iProperty Group continues to seek further strategic acquisitions of leading property portals and complimentary businesses throughout regional markets.
About iProperty.com Malaysia (www.iproperty.com.my)
iProperty.com Malaysia is the country’s No.1 property and real estate website in all key metrics (confirmed by: ComScore, Frost & Sullivan and Alexa.com). Working with Malaysia’s top developers and more than 1,500 real estate agents, the website offers the largest online database of properties for sale and rent in the country. iProperty.com Malaysia also publishes a monthly magazine.
About iProperty.com (www.iproperty.com)
The iProperty.com Group is Asia’s No. 1 online property group, with leading property websites in Singapore, Malaysia, Hong Kong and Philippines. It is part of Australian Securities Exchange-listed IPGA Limited (www.ipgalimited.com), (ASX: IPP). Recently, the iProperty.com Group made history by winning the highly prestigious CNBC Asia Pacific Property Awards in the “Best Property Portal” category for 4 of its websites – Singapore, Malaysia, Hong Kong and Philippines.
iProperty.com Network:
Malaysia: iProperty.com Malaysia
Singapore: iProperty.com Singapore
Hong Kong: GoHome.com.hk and House18.com
Taiwan: VRHOUSE.com.tw
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com
For media queries, please contact:
Chris Cheung (Ms)
iProperty.com
DID: +60322970873
Mobile: +6016-6031271
Email: chris@iproperty.com
Back
|
