17th PropertyGuru Asia Property Awards Grand Final: The Best of The Best Real Estate Developers

The best of the best real estate developers, projects prevail at

17th PropertyGuru Asia Property Awards Grand Final

AWARD-WINNING POOL OF ACCOMPLISHED DEVELOPERS GATHER IN BANGKOK FOR

FULL RETURN OF AWARDS SERIES FINALE

New World Development Company Limited is hailed Best Developer

(Asia) in one of two regional wins for companies from China (Hong Kong and Macau)
Companies from Thailand and the Philippines each garner seven regional wins
Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, receives the PropertyGuru Icon award

BANGKOK, Thailand — 9 December 2022

PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, today announced the regional winners representing the Best in Asia at the 17th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Leading Real Estate Companies of the World®.

Also known as the finale of the 2022 PropertyGuru Asia Property Awards series, the Grand Final was presented in 48 categories at The Athenee Hotel, a Luxury Collection Hotel, Bangkok.

New World Development Company Limited garnered the award of Best Developer (Asia), representing China (Hong Kong and Macau). Along with the design practice Lead8, the company also received the Best Mega Mixed Use Development (Asia) award for 11 SKIES.

Representing Mainland China, Lead8 additionally won the Best Retail Architectural Design (Asia) award for Shougang Park Urban Weaving District. Benoy Limited won Best Mixed Use Architectural Design (Asia) for CRL MixC Qianhai in another regional win for Mainland China.

The Philippines garnered seven regional wins, led by the Best Industrial Developer (Asia) title for Aboitiz InfraCapital Economic Estates and Best Lifestyle Developer (Asia) title for Global-Estate Resorts, Inc. (GERI). Aboitiz InfraCapital Economic Estates also won the honours of Best Industrial Development (Asia) and Best Green Development (Asia) for LIMA Estate.

AppleOne Mactan, Inc. also won Best Branded Residential Development (Asia) for The Residences at Sheraton Cebu Mactan Resort while Cebu Landmasters, Inc. won Best Hospitality Architectural Design (Asia) for Sofitel Cebu City. Arquitectonica was honoured with the Best Office Architectural Design (Asia) award for Mega Tower.

Thailand also gained seven regional wins, including the Best Landmark Mixed Use Development (Asia) award for One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT). Magnolia Quality Development Corporation Limited won both the Best Condo Development (Asia) and Best Health and Wellness Development (Asia) awards for The Aspen Tree at The Forestias. PMT Property Co., Ltd. earned the titles of Best Condo Interior Design (Asia) and Best Condo Landscape Architectural Design (Asia) for 125 Sathorn. Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL was named Best Waterfront Housing/Landed Development (Asia) while Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. won Best Housing/Landed Landscape Architectural Design (Asia).

Singapore scored six regional wins at the Grand Final. GuocoLand was named Best Luxury Developer (Asia) and Best Sustainable Developer (Asia) while UOL Group Limited was named Best Hospitality Developer (Asia). UOL Group Limited also won Best Hotel Development (Asia) for Pan Pacific Orchard.

Park Nova by Shun Tak Holdings gained the Best Condo Architectural Design (Asia) title while Artyzen Singapore by Artyzen Hospitality Group won Best Hospitality Interior Design (Asia).

Indonesia was also represented with six regional wins that include the Best Township Development (Asia) award for Kota Baru Parahyangan by PT. Belaputera Intiland and Best Township Masterplan Design (Asia) award for PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group.

Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group, won Best Office Development (Asia) while LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. won Best Connectivity Condo Development (Asia). Metland Cibitung by PT Fajarputera Dinasti, a subsidiary of PT Metropolitan Land Tbk., won Best Connectivity Housing/Landed Development (Asia) while LOGOS Cikarang Logistics Park by LOGOS Indonesia was named Best Green Industrial Development (Asia).

Australia scored five regional wins, including the Best Boutique Developer (Asia) title for Spacious Group. SPG Land won both the Best Smart Building Development (Asia) and Best Integrated Work From Home Development (Asia) titles for Paradiso Place. Dare Property Group won Best Eco Friendly Commercial Development (Asia) for Zero Gipps and Mayrin Group won Best Housing/Landed Architectural Design (Asia) for The Archwood Residences.

Vietnam scored four regional wins, including the Best Mixed Use Developer (Asia) title for Keppel Land. Sycamore by CapitaLand Development (Vietnam) won the Best Housing/Landed Development (Asia) and Best Eco Friendly Housing/Landed Development (Asia) awards. Artisan Park by Gamuda Land was named Best Retail Development (Asia).

From Greater Niseko, Andaru Collection Niseko by Blue Waves Group clinched both Best Completed Housing/Landed Development (Asia) and Best Housing/Landed Interior Design (Asia) awards. HakuVillas by H2 Group won the Best Completed Condo Development (Asia) award.

Cambodia and Malaysia each earned two regional wins. The Best Breakthrough Developer (Asia) award went to Kambujaya Development Co., Ltd, with the Best Waterfront Condo Development (Asia) title going to Vue Aston by The Peninsula Capital Co., Ltd. KL Wellness City by KL Wellness City Sdn Bhd was named Best Mixed Use Development (Asia), with Infinity8 Reserve JBCC by Infinity Group winning Best Co-Working Space (Asia).

India was also represented at the Grand Final with Embassy REIT winning Best Commercial Landscape Architectural Design (Asia) for Embassy TechVillage – Central Garden.

Candra Ciputra, CEO of Ciputra Group and president director of PT Ciputra Development Tbk, received the PropertyGuru Icon Award. Ciputra, previously named the Indonesia Real Estate Personality of the Year in 2015, received the award for a lifetime of real estate achievements covering developments in more than 40 cities across the archipelago.

The regional winners at the Grand Final were selected from the elite pool of country winners from PropertyGuru Asia Property Awards’ series of celebrations this year in Singapore, Malaysia, Indonesia, Thailand, Vietnam, Cambodia, the Philippines, Mainland China, Hong Kong, Macau, Greater Niseko (Japan), India, and Australia.

Hari V Krishnan, CEO and managing director of PropertyGuru Group, said: “The Awards remain among our widest-reaching enterprise solutions, having expanded over the years to represent some of the world’s most dynamic property markets from Southeast Asia to Australia. With these award-winning developers and designers as benchmarks, we hope to guide property seekers towards finding, financing and owning the right properties. In this, the 17th edition of the PropertyGuru Asia Property Awards Grand Final, we elevate not only the region’s dream homes but also its finest, most sustainable live-work-play developments, workspaces, retail hubs, hotels, resorts, and industrial parks, among others, to an international platform. Whether you’re seeking, selling or building property, we will see you home.”

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “The winners of the PropertyGuru Asia Property Awards Grand Final aptly represent the diversity, progress, and resilience of their respective property markets. With projects ranging from boutique residential developments to vast integrated districts, these award-winning developments offer an impressive snapshot of what the Best in Asia looks like. Whether celebrated onstage at our gala events, or presented to the world online, these awardees shine bright as the Gold Standard of Asian real estate, keeping true to our vision of building the region’s Property Trust Platform. To all the winners announced at our regional Grand Final—we celebrate your success. Congratulations.”

The latest edition of the Grand Final marked the full return of the black-tie gala dinner and awards presentation, following a successful virtual gala edition in 2021. The 2022 Grand Final was streamed live on AsiaPropertyAwards.com as well as the programme’s official Facebook and YouTube channels.

The list of winners at the Grand Final was selected by an independent jury consisting of head judges of participating markets in the Awards: Thien Duong, chairperson of the Grand Final and general director, Group GSA (Vietnam); Amit Khanna, managing director, Phoenix Advisers (India); Bill Barnett, founder and managing director, C9 Hotelworks (Greater Niseko); Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc. (Philippines); Dato’ Sr. Lau Wai Seang, president, Royal Institution of Surveyors Malaysia (RISM): 2017-2018 (Malaysia); Kristin Thorsteins, head of partnership growth for APAC at IWG PLC (Singapore); Lui Violanti, regional manager for Western Australia, Inhabit Group (Australia); Paul Tse, president, board of directors, Macao Association of Building Contractors and Developers (Mainland China, Hong Kong and Macau); Sorn Seap, executive vice president, Cambodian Valuers and Estate Agents Association (Cambodia); Suphin Mechuchep, chairperson, JLL Thailand (Thailand); and Vivin Harsanto, senior director and head of advisory, JLL Indonesia (Indonesia).

HLB, the leading international accounting and advisory ﬁrm, upheld fairness, transparency and credibility throughout all points of the selection process, under the leadership of Paul Ashburn, HLB International Real Estate Group.

Since it was established in Thailand in 2005, the PropertyGuru Asia Property Awards programme has expanded over the years to 18 property markets. Through its series of in-person and virtual gala celebrations, the PropertyGuru Asia Property Awards programme has provided an international platform for excellent real estate developers, architects, and interior designers across Asia Pacific. The programme therefore connects awardees to a wide pool of investors, consumers, and agents, as well as the diaspora, throughout the region and beyond.

Organised by PropertyGuru Group (NYSE: PGRU), the 17th PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Kohler; gold sponsor Leading Real Estate Companies of the World®; official portal partner PropertyGuru; official channel partner History; official magazine Property Report by PropertyGuru; official PR partner Artemis Associates; media partners BusinessWorld, Construction & Property, d+a Magazine, Daily FT, Deluxe Magazine, Discover Pattaya, Esquire PH, Hot Magazine, Housing.com, Kompas, Kopiandpropetry.com, Luxuo, Manila Bulletin, Mingtiandi, Palace, Pattaya Trader, Penang Property Talk, People Asia Magazine, PhilStar PropertyReport PH, Powderlife, Real Estate News PH, Real Living, Rem, Robb Report, Southeast Asia Globe, Suara Indonesia, The Grid, The Hindu, The Manila Times, Think of Living, Top 10 of Malaysia, Vietnam Heritage, WhenInManila.com, Yacht Style, and Your Investment Property; official ESG partner Baan Dek Foundation; official charity partner Liter of Light; supporting partners IFC – Building Resilience Index, IFC – Excellence in Design for Greater Efficiencies, and REHDA Institute; supporting associations EuroCham Cambodia, Global Design Awards Lab, Green Building Consulting & Engineering, Niseko Tourism, Singapore Estate Agents Association, and Singapore Green Building Council; and official supervisor HLB.

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

LIST OF REGIONAL AND COUNTRY WINNERS

17th PropertyGuru Asia Property Awards Grand Final

DEVELOPER AWARDS

Best Developer

(Asia)

Agung Sedayu Group — Indonesia

Auriton Group — Australia

New World Development Company Limited — China – Hong Kong and Macau
(REGIONAL WINNER)

Prince Real Estate Group — Cambodia

Robinsons Land — Philippines

UOL Group Limited — Singapore

Best Luxury Developer (Asia)

GuocoLand — Singapore
(REGIONAL WINNER)

SonKim Land Corporation — Vietnam

Best Industrial Developer (Asia)

Aboitiz InfraCapital Economic Estates — Philippines
(REGIONAL WINNER)

PT LOGOS SEA Indonesia — Indonesia

Best Mixed Use Developer (Asia)

GuocoLand — Singapore

Keppel Land — Vietnam
(REGIONAL WINNER)

Megaworld Corporation — Philippines

Prince Real Estate Group — Cambodia

Best Hospitality Developer (Asia)

Megaworld Corporation — Philippines

UOL Group Limited — Singapore
(REGIONAL WINNER)

Best Lifestyle Developer (Asia)

Aurum Land (Private) Limited — Singapore

Casagrand Builder Pvt. Ltd. — India

Global-Estate Resorts,Inc. (GERI) — Philippines
(REGIONAL WINNER)

Best Sustainable Developer (Asia)

GuocoLand — Singapore
(REGIONAL WINNER)

PT. Bumi Serpong Damai — Indonesia

PT LOGOS SEA Indonesia — Indonesia

Best Boutique Developer

(Asia)

Aurum Land (Private) Limited — Singapore

PT. Bumi Parama Wisesa (NavaPark) Hongkong Land & Sinar Mas Land Joint Venture — Indonesia

Spacious Group — Australia (
REGIONAL WINNER)

Best Breakthrough Developer (Asia)

Kambujaya Development Co., Ltd — Cambodia
(REGIONAL WINNER)

DEVELOPMENT AWARDS

Best Township Development (Asia)

Bridgetowne Destination Estate by Robinsons Land — Philippines

Correctio by PT. Jababeka Tbk — Indonesia

Kota Baru Parahyangan by PT. Belaputera Intiland — Indonesia
(REGIONAL WINNER)

Meyhomes Capital Phu Quoc by Tan A Dai Thanh – Meyland — Vietnam

Best Mega Mixed Use Development (Asia)

11 SKIES by Lead8 & New World Development Company Limited — China – Hong Kong and Macau
(REGIONAL WINNER)

Best Landmark Mixed Use Development (Asia)

One Bangkok by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) — Thailand
(REGIONAL WINNER)

Best Mixed Use Development (Asia)

Baker Circle by Henderson Land Development Company Limited — China – Hong Kong and Macau

Balfour Place by Thirdi Group — Australia

Embassy Manyata Front Parcel Development by Embassy REIT — India

Heartland 66 by Hang Lung Properties — Mainland China

KL Wellness City by KL Wellness City Sdn Bhd — Malaysia
(REGIONAL WINNER)

Melbourne Square by OSK Property — Australia

Prince International Plaza by Prince Real Estate Group — Cambodia

Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group — Indonesia

Best Industrial Development (Asia)

FoodFab @ Mandai by Mandai 7 JV Pte Ltd — Singapore

GIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation — Indonesia

LIMA Estate by Aboitiz InfraCapital Economic Estates — Philippines
(REGIONAL WINNER)

Best Hotel Development (Asia)

Pan Pacific Orchard by UOL Group Limited — Singapore
(REGIONAL WINNER)

Park Hyatt Niseko Hanazono and Hanazono Resort Niseko by Nihon Harmony Resorts KK and PCPD — Greater Niseko

Best Retail Development (Asia)

Artisan Park by Gamuda Land — Vietnam
(REGIONAL WINNER)

Batavia PIK by Agung Sedayu Group & Salim Group, curated by Amantara — Indonesia

Best Office Development (Asia)

888 Lai Chi Kok Road (NCB Innovation Centre) by New World Development Company Limited — China – Hong Kong and Macau

Autograph Tower at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group — Indonesia
(REGIONAL WINNER)

Cloud Land, Hangzhou by Greentown China Holdings Limited — Mainland China

Frasers Tower by Frasers Property Singapore — Singapore

Hudson & Ganges Office Towers, Embassy TechZone by Embassy REIT — India

Knowledge Hub @Digital Hub by Sinar Mas Land — Indonesia

One Bangkok Office Tower 4 by Frasers Property Holdings (Thailand) Co., Ltd. (FPHT) — Thailand

Best Branded Residential Development (Asia)

The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. — Philippines
(REGIONAL WINNER)

Best Condo Development (Asia)

Forbes Residences, Applecross by Mustera Property Group Ltd — Australia

Hinode Hills by Niseko Village — Greater Niseko

Kincang Egrets Waves 3.0 Residential by LYCS Architecture — Mainland China

Le Parc at Thamrin Nine Complex by PT Putragaya Wahana, a member of Galeon Group — Indonesia

Meyer Mansion by GuocoLand — Singapore

One Innovale by Henderson Land Development Company Limited — China – Hong Kong and Macau

Parc3 by Eupe Corporation Berhad — Malaysia

Piramal Aranya by Piramal Realty — India

The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited — Thailand
(REGIONAL WINNER)

The Seasons Residences by Sunshine Fort North Bonifacio Realty Development Corporation — Philippines

Vue Aston by The Peninsula Capital Co., Ltd. — Cambodia

Best Waterfront Condo Development (Asia)

Costa Mira Beachtown Mactan by Cebu Landmasters, Inc. — Philippines

Lee Nam Road 66 by Logan Group Company Limited & KWG Group Holdings — China – Hong Kong and Macau

Meyer Mansion by GuocoLand — Singapore

Paradiso Place by SPG Land — Australia

Sunteck Beach Residences (SBR) by Sunteck Realty Limited — India

Vue Aston by The Peninsula Capital Co., Ltd. — Cambodia
(REGIONAL WINNER)

Best Connectivity Condo Development (Asia)

LRT City Jatibening by KSO PT Adhi Commuter Properti Tbk. & PT Urban Jakarta Propertindo Tbk. — Indonesia
(REGIONAL WINNER)

Best Completed Condo Development (Asia)

HakuVillas by H2 Group — Greater Niseko
(REGIONAL WINNER)

Best Health and Wellness Development (Asia)

Forbes Estates Lipa by Robinsons Land — Philippines

Mark Moran Warrawee by Mark Moran Group — Australia

The Aspen Tree at The Forestias by Magnolia Quality Development Corporation Limited — Thailand
(REGIONAL WINNER)

Best Smart Building Development (Asia)

Paradiso Place by SPG Land — Australia
(REGIONAL WINNER)

Best Housing/Landed Development (Asia)

Belgravia Ace by Fairview Developments Pte Ltd (a unit of Tong Eng Group) — Singapore

Enchanté Résidence @BSD City by Sinar Mas Land — Indonesia

Guangzhou Nansha Amber Living by Zhuhai Huafa Properties Co., Ltd. — Mainland China

Sycamore by CapitaLand Development (Vietnam) — Vietnam
(REGIONAL WINNER)

The Archwood Residences by Mayrin Group — Australia

Best Waterfront Housing/Landed Development (Asia)

Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL — Thailand
(REGIONAL WINNER)

The Residences III at The Glades, Putra Heights by Sime Darby Property — Malaysia

Best Connectivity Housing/Landed Development (Asia)

Metland Cibitung by PT Fajarputera Dinasti a subsidiary of PT Metropolitan Land Tbk. — Indonesia
(REGIONAL WINNER)

Best Completed Housing/Landed Development (Asia)

Andaru Collection Niseko by Blue Waves Group — Greater Niseko
(REGIONAL WINNER)

Best Integrated Work From Home Development (Asia)

Paradiso Place by SPG Land — Australia
(REGIONAL WINNER)

Pisonia Ville by UDA Holdings Berhad — Malaysia

Best Green Development (Asia)

LIMA Estate by Aboitiz InfraCapital Economic Estates — Philippines
(REGIONAL WINNER)

Best Green Industrial Development (Asia)

LOGOS Cikarang Logistics Park by LOGOS Indonesia — Indonesia
(REGIONAL WINNER)

Best Eco Friendly Housing/Landed Development (Asia)

Sycamore by CapitaLand Development (Vietnam) — Vietnam
(REGIONAL WINNER)

Best Eco Friendly Commercial Development (Asia)

Site of the Future – Acienda Silang by Pilipinas Shell Petroleum Corporation — Philippines

Zero Gipps by Dare Property Group — Australia
(REGIONAL WINNER)

DESIGN AWARDS

Best Township Masterplan Design (Asia)

Bridgetowne Destination Estate by Robinsons Land — Philippines

PIK2 Sedayu Indo City by Agung Sedayu Group & Salim Group — Indonesia
(REGIONAL WINNER)

Best Mixed Use Architectural Design (Asia)

11 SKIES by Lead8 — China – Hong Kong and Macau

CRL MixC Qianhai by Benoy Limited — Mainland China
(REGIONAL WINNER)

Yoho Treasure Island Resorts World Hotel, Macau by Huarchi Global Design Corporation Ltd & Treasure Island Entertainment Company Ltd — China – Hong Kong and Macau

Best Condo Architectural Design (Asia)

AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company — Singapore

Meyer Mansion by GuocoLand — Singapore

One East @ Damansara by CK East Group — Malaysia

Paradiso Place by SPG Land — Australia

Park Nova by Shun Tak Holdings — Singapore
(REGIONAL WINNER)

Railway Leisure Town by HZS Design (Shanghai) Ltd. — Mainland China

Reference Sathorn – Wongwianyai by SC Asset — Thailand

The Commodore by JBE Holdings Pte Ltd — Singapore

The East Village at DGT by Cebu Landmasters, Inc. — Philippines

Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. — Thailand

Best Housing/Landed Architectural Design

(Asia)

Andaru Collection Niseko by Blue Waves Group — Greater Niseko

Lake Legend Bangna-Suvarnabhumi by Hongkong Land and Property Perfect PCL — Thailand

Mazenta Residence by PT Cipta Harmoni Lestari — Indonesia

Seri Austin Heights by Aksi Sepakat Sdn Bhd — Malaysia

The Archwood Residences by Mayrin Group — Australia
(REGIONAL WINNER)

The Valley by Botanica Luxury Villas — Thailand

Venue ID Motorway Rama 9 by SC Asset — Thailand

Best Hospitality Architectural Design

(Asia)

Artyzen Singapore by Artyzen Hospitality Group — Singapore

Shiguchi by Kookan — Greater Niseko

Sofitel Cebu City by Cebu Landmasters, Inc. — Philippines
(REGIONAL WINNER)

Best Retail Architectural Design

(Asia)

Pantjoran PIK by Agung Sedayu Group & Salim Group, curated by Amantara — Indonesia

Shougang Park Urban Weaving District by Lead8 — Mainland China
(REGIONAL WINNER)

Best Office Architectural Design

(Asia)

Embassy Oxygen, Tower-1 by Embassy REIT — India

Mega Tower by Arquitectonica — Philippines
(REGIONAL WINNER)

One Bedford Place by Lofter Group Limited — China – Hong Kong and Macau

Best Condo Interior Design (Asia)

125 Sathorn by PMT Property Co., Ltd. — Thailand
(REGIONAL WINNER)

Liv @ MB by Bukit Sembawang Estates Limited — Singapore

Orchard Sophia by Orchard Sophia Pte Ltd — Singapore

Paradiso Place by SPG Land — Australia

Perfect Ten by Property Enterprises Development (Singapore) Pte Ltd — Singapore

The Commodore by JBE Holdings Pte Ltd — Singapore

The Residences at Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. — Philippines

Best Housing/Landed Interior Design

(Asia)

Andaru Collection Niseko by Blue Waves Group — Greater Niseko
(REGIONAL WINNER)

Kambujaya Residences by Kambujaya Development Co., Ltd — Cambodia

Mazenta Residence by PT Cipta Harmoni Lestari — Indonesia

The Archwood Residences by Mayrin Group — Australia

Best Hospitality Interior Design (Asia)

Artyzen Singapore by Artyzen Hospitality Group — Singapore
(REGIONAL WINNER)

Sheraton Cebu Mactan Resort by AppleOne Mactan, Inc. — Philippines

Shiguchi by Kookan — Greater Niseko

Best Condo Landscape Architectural Design

(Asia)

125 Sathorn by PMT Property Co., Ltd. — Thailand
(REGIONAL WINNER)

AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company — Singapore

Park Nova by Shun Tak Holdings — Singapore

Waterfall Heights, Patong Bay (Phuket) by PropertyStore Thailand Co., Ltd. — Thailand

Best Housing/Landed Landscape Architectural Design

(Asia)

Jaytiya 2 Private Pool Villas Residence by Jaytiya Property Co., Ltd. — Thailand
(REGIONAL WINNER)

Meysenses Lucia Bay Bai Lu by Tan A Dai Thanh – Meyland — Vietnam

Best Commercial Landscape Architectural Design

(Asia)

Embassy TechVillage – Central Garden by Embassy REIT — India (
REGIONAL WINNER)

Best Co-Working Space (Asia)

Infinity8 Reserve JBCC by Infinity Group — Malaysia
(REGIONAL WINNER)

work.able Exxa-Zeta Center by Robinsons Land — Philippines

PUBLISHER’S CHOICE

PropertyGuru Icon Award

WINNER: Candra Ciputra

CEO, Ciputra Group

President Director, PT Ciputra Development Tbk

–END–

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PropertyGuru Asia Property Awards (Malaysia) programme tackles COVID-19 market trends and consumer sentiment in 2021

PropertyGuru Asia Property Awards (Malaysia)

programme tackles Covid-19 market trends and consumer sentiment in 2021

MALAYSIA’S MOST PRESTIGIOUS REAL ESTATE AWARDS WILL HARNESS THE POWER OF DIGITAL AND SOCIAL MEDIA AMIDST THE PANDEMIC

People’s lives are digitalised under the Movement Control Order, with social networking and streaming taking centre stage
Malaysia remains a buyer’s market as one in three Malaysians intend to continue their property purchases this year
Market recovery is in sight for the second half of 2021, coinciding with the annual PropertyGuru Asia Property Awards (Malaysia), which will be held virtually for a second year
New award categories for honours for the Best Pandemic Response/New Normal Design and the Best Integrated WFH (Work From Home) Development

KUALA LUMPUR — 20 April 2021

The PropertyGuru Asia Property Awards (Malaysia), presented in 2021 by platinum sponsor Kohler, hosted a virtual roundtable on Tuesday (20 April) as the organisers issued a call anew for nominations and entries to the programme’s eighth annual edition, which will also be the programme’s second consecutive virtual ceremony.

The online roundtable discussion was moderated by Jules Kay, managing director of PropertyGuru Asia Property Awards and Events, who spoke about the 2021 awards series, including the shift to virtual or hybrid events, and broadcasting the awarding ceremony digitally to reach more audiences including property consumers and agents.

With 75 percent of construction affected in the past year, Malaysia remains a buyer’s market during the shutdown, according to Sheldon Fernandez, country manager of
PropertyGuru.com.my
, citing highlights from the latest Consumer Sentiment Study H1 2021 during the roundtable.

The PropertyGuru consumer report revealed that people’s lives have been digitalised under the Movement Control Order (MCO), with social networking platforms, online property portals and streaming taking centre stage. The extended period of the MCO also saw the rise in popularity of virtual tours as one of the primary tools for sellers and buyers, with one in three Malaysians expressing intent to continue with property purchases this year, the study revealed.

Prem Kumar, chairperson of the PropertyGuru Asia Property Awards (Malaysia) and deputy managing director of Jones Lang Wootton, discussed during the roundtable his pragmatic look at the state of the real estate sector amidst the MCO and shared his insights for a market recovery post-pandemic. Kumar also reiterated the credibility, transparency and independence of the judging process, and how the new categories this year reflected the strength of the market.

Pandemic response and new normal

Acknowledging the property sector’s adaptability to the new global health and business realities, the latest edition of the PropertyGuru Asia Property Awards (Malaysia) will have honours for the Best Pandemic Response/New Normal Design, and the Best Integrated WFH Development.

Other new categories this year include accolades for Best Smart Home Development, Best Investment Development, Best?Senior Living?Development, Best Co-Living Development, Best Clubhouse Design, and Best Commercial Interior Design.

Dato’ Patrick Chew, senior partner with HLB Ler Lum Chew – HLB Malaysia, talked about the exciting new role of the company as the official supervisor of the PropertyGuru Asia Property Awards (Malaysia). Chew also shared some market observations and the global advisory and accounting network’s prospects in the era of Covid-19.

The roundtable was also joined by Leo Leong, general manager of Kohler Kitchen & Bath, South & North East Asia, who spoke about design trends in kitchen and bathrooms in the region, as well as the global brand’s philanthropic response to the pandemic. Kohler is the returning platinum sponsor of the PropertyGuru Asia Property Awards (Malaysia), which currently accepts nominations and entry submissions until 9 July.

Malaysia’s winning and Highly Commended developers and projects will be revealed on Wednesday, 15 September 2021 during a virtual gala event and awards ceremony that will stream live on
AsiaPropertyAwards.com/tv-podcast
 and the official channels on
Facebook
,
LinkedIn
,
Twitter
 and
YouTube
.

Key dates for the 2021 edition:

1 January 2021 – Entries Open

9 July 2021 – Entries Close

19 July-6 August 2021 – Site Inspections

10 August 2021 – Final Judging

15 September 2021 – Virtual Gala Dinner and Awards Ceremony (Malaysia Edition)

9 December 2021 – Regional Grand Final Gala Event in Bangkok, Thailand

Nominations from the public and official entries from eligible companies and projects are currently being accepted here:
AsiaPropertyAwards.com/nominations

As a virtual gala event and awards presentation, the forthcoming PropertyGuru Asia Property Awards (Malaysia) in September 2021 will observe proper protocols in accordance with Malaysian health and safety standards at all stages, including the site inspections.

In 2020, the PropertyGuru Asia Property Awards online gala series, which included the first virtual gala edition of the PropertyGuru Asia Property Awards (Malaysia), was viewed more than 516,000 times and reached viewers and property investors in more than 75 countries worldwide. Giving the programme a more international scope, highlights of the 2021 Malaysia gala event will air on the History Channel, the official cable TV partner of the PropertyGuru Asia Property Awards.

Those who win in the main categories will have an opportunity to compete at the 16th PropertyGuru Asia Property Awards Grand Final and gain the titles of “Best in Asia.” Last year, i-Park @ Senai Airport City by IPark Development Sdn. Bhd. won Best Industrial Estate Development (Asia) at the regional competition.

This year’s 16th PropertyGuru Asia Property Awards Grand Final will be hosted in Bangkok, Thailand on 9 December and preceded by the hybrid physical/virtual edition of the PropertyGuru Asia Real Estate Summit, the tech and thought leadership platform of PropertyGuru Group.

Organised by Southeast Asia’s leading property technology company, PropertyGuru Group, the 8th PropertyGuru Asia Property Awards (Malaysia) programme is supported by platinum sponsor Kohler; official portal partner
PropertyGuru.com.my
; official cable TV partner History Channel; official magazine PropertyGuru Property Report; official PR partner Klareco Communications; media partners
KopiandProperty.com
, Malaysian Business, Penang Property Talk, and The Grid; official charity partner Right To Play; official ESG partner Baan Dek Foundation; and official supervisor HLB Ler Lum Chew – HLB Malaysia.

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

–END
–

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56 winners in PropertyGuru Asia Property Awards 2020 (Malaysia).

For the first time ever, the 7th PropertyGuru Asia Property Awards (2020) has been broadcasted as a virtual gala event. I watched the show and I thought it was well organised. The winners share their thoughts on winning their awards. In this years’ edition, Tropicana Corporation Berhad bagged 10 wins including Best Developer and Best Condo Development in Malaysia. Please do read the news below and full list of award winners right after.

We also have the first-ever female Malaysia Real Estate Personality of the Year recipient too. She is Sunway Property Managing Director Sarena Cheah.

Press release:

KUALA LUMPUR, Malaysia –– 15 September 2020

The first-ever virtual gala of the PropertyGuru Asia Property Awards (Malaysia), now in its seventh year, premiered on Tuesday evening, 15 September 2020, with an immersive, interactive event that drew property seekers, real estate agents, overseas developers, and industry stakeholders alike.

Malaysia’s prestigious real estate awards platform presented 35 award categories to the outstanding builders of the country’s skylines and spaces via a multi-streamed event viewed worldwide via
asiapropertyawards.com/en/newsroom
, and the official channels on YouTube and Facebook. Viewers were able to participate in an exclusive live chat on the official Awards website during the live broadcast.

Tropicana Corporation Berhad received the title of Best Developer, boosted by 10 wins including the coveted trophy of Best Condo Development (Malaysia) for Tropicana Grandhill.

Fieldman Construction Sdn Bhd, one of several Special Recognition for CSR (Corporate Social Responsibility) recipients, was named Best Boutique Developer. Meanwhile, Matrix Concepts Group, Mah Sing Group Berhad, AME Development Sdn. Bhd., and Ideal Property Group earned the newly introduced titles of Best Mega Township Developer, Best Lifestyle Developer, Best Industrial Developer, and Best Affordable Homes Developer, respectively.

More: PropertyGuru Asia Property Awards names first female Malaysia Real Estate Personality of the Year

Some 25 companies in Malaysian property development took part in the virtual celebrations and accepted their prizes via remote video. These included the Thai-Malaysian venture of Minor International and Themed Attractions Resorts & Hotels, which won the plum prize of Best Landed Development (Malaysia) for Anantara Desaru Coast Residences.

In a milestone for the programme, the Malaysia Real Estate Personality of the Year title was presented to Sarena Cheah, managing director of Sunway Berhad’s property division. She is the first woman to receive this honour in Malaysia.

“Every day, the team at Sunway Property takes on the most pressing challenges of our time and that is to build sustainable cities and communities in alignment with the United Nations Sustainable Development Goals that are practiced across the world. This is because we see urban cities as the world’s biggest challenge; but at the same time, that is potentially also our greatest solution,” Cheah said.

“I would like to take the opportunity to also thank all our customers, employees, stakeholders, and everybody who has been on this journey with us. Thank you for being our inspiration, as at the end of the day, it’s really putting smiles on everybody’s faces that is our greatest joy in being a ‘Master Community Developer,’” she added.

More: Asia Property Awards (Malaysia) winners help the nation cope amid the COVID-19 crisis

An independent panel of expert judges arrived at the shortlist after a rigorous, ethical, fair, transparent judging process supervised by BDO Malaysia, led by Pang Zhi Hao, Partner, and Lu Yan Fen, Director, Audit.

The judging panel comprises Awards chairperson Prem Kumar, Deputy Managing Director, Jones Lang Wootton; Blaine Robert, Creative Director/CEO, Blaine Robert Design Sdn. Bhd. and Blaine Robert Lifestyle Sdn. Bhd.; Boon Che Wee, Director, GRA Architects; Chris Tia, Principal, Tia & Noordin; Dr. Daniele Gambero, CEO & Propenomist, REI Group of Companies; Datuk Ar Hj Saiful Anuar Abdul Aziz, Principal, Arte Axis Design Group; Sr Low Han Hoe, Senior Manager, Investment, Nawawi Tie Leung Real Estate Consultants Sdn Bhd; Architect Mustapha Kamal Zulkarnain, Founder and Principal, Arkitek Mustapha Kamal; Sr. Engad Ravana, Principal of ER Consult; and Tan Hui Yin, Partner, Tan Chap & Associates; and Ir. Dr. Zulhkiple A. Bakar, Managing Director, Perunding ZNA.

Site inspections in North Malaysia were conducted under a team of judges that included Miichael Yeoh, CEO & Founder, GM Training Academy PLT; Ng Wee Kwong, Property Investor; Richard Oon Hock Chye, Executive Director, ShineWing TY TEOH Consulnet Tax Sdn. Bhd, and Charles Tan Chia Lih, Owner of kopiandproperty blog. Meanwhile, site inspections in South Malaysia were conducted by Lim Qun Kai, Designer, Founder, The Blue Creative; Ir. Dr. Justin Lai, Managing Director of IPM Group; and Law Lee Kiau, President, Johor Interior Designer Association.

The 7th PropertyGuru Asia Property Awards (Malaysia) 2020 was supported by platinum sponsor Kohler; official portal partner PropertyGuru.com.my; official magazine PropertyGuru Property Report; media partners Business Today, Kopi and Property, Malaysian Business, The Grid, and Top 10 of Malaysia; official PR partner Klareco Communications; official charity partner Right To Play; official supplier CornerStone Wines; and official supervisor BDO.

For more information, email
awards@propertyguru.com
 or visit the official website:
AsiaPropertyAwards.com
.

FULL LIST OF WINNERS & HIGHLY COMMMENDED AWARDEES

7th PropertyGuru Asia Property Awards (Malaysia) 2020

DEVELOPER AWARDS

Best Developer

WINNER: Tropicana Corporation Berhad

Best Boutique Developer

WINNER: Fieldman Construction Sdn Bhd

Best Mega Township Developer

WINNER: Matrix Concepts Group
HIGHLY COMMENDED: KLK Land
HIGHLY COMMENDED: Tanah Sutera Development Sdn Bhd
HIGHLY COMMENDED: Tropicana Corporation Berhad
HIGHLY COMMENDED: UMLand

Best Lifestyle Developer

WINNER: Mah Sing Group Berhad

Best Industrial Developer

WINNER: AME Development Sdn. Bhd.

Best Affordable Homes Developer

WINNER: Ideal Property Group
HIGHLY COMMENDED: Fieldman Construction Sdn Bhd

DEVELOPMENT AWARDS

Best High End Condo Development (Central)

WINNER: Tropicana Grandhill by Tropicana Corporation Berhad

Best Mid End Condo/Apartment Development (Central)

WINNER: Waltz Residences by WCT Land Sdn Bhd

Best Mass Market Condo/Apartment Development (Central)

WINNER: M Oscar by Mah Sing Group Berhad
HIGHLY COMMENDED: Horizon Suites by Horizon L&L Sdn Bhd

Best Waterfront Development

WINNER: Residensi AVA @ KIARA BAY by UEM Sunrise Berhad and Melati Ehsan Group

Best Luxury Landed Development

WINNER: Anantara Desaru Coast Residences by Minor International and Themed Attractions Resorts & Hotels

Best Landed Development (Central)

WINNER: Tropicana Aman – Dalia Residences by Tropicana Corporation Berhad

Best Cluster Brownfield Development (Central)

WINNER: Karya Residensi by Selaman Sdn Bhd

Best Condo/Apartment Development (Southern)

WINNER: AMBER HEIGHTS By UMLand Seri Alam
HIGHLY COMMENDED: Paradigm Residence by WCT Land Sdn Bhd

Best High End Landed Development (Southern)

WINNER: Sutera Ideal by Tanah Sutera Development Sdn Bhd
HIGHLY COMMENDED: Mahligai @ Nusa Damai by Temokin Development Sdn. Bhd.

Best Mid End Landed Development (Southern)

WINNER: Ayera Residences by Tropicana Danga Cove Sdn Bhd
HIGHLY COMMENDED: D’Art 18 Collection III by PH World

Best Landed Development (Southern)

WINNER: St Marco Park – Phase 1 by Casa Bayu Idaman Sdn Bhd
HIGHLY COMMENDED: Sierra Heights (Daintree Residence) by Kemajuan Tong Tor Sdn Bhd

Best Condo/Apartment Development (Northern)

WINNER: The Horizon @ Ipoh by DreamLike Development Sdn Bhd

Best Mega Township Development

WINNER: Bandar Sri Sendayan by Matrix Concepts Group
HIGHLY COMMENDED: Taman Sutera Utama by Tanah Sutera Development Sdn Bhd
HIGHLY COMMENDED: Tropicana Aman by Tropicana Corporation Berhad

Best Township Development

WINNER: SIERRA HEIGHTS by Kemajuan Tong Tor Sdn Bhd

Best Hotel Development

WINNER: Courtyard by Marriott, Penang @ Tropicana 218 Macalister by Tropicana Corporation Berhad

Best Industrial Development

WINNER: i-Park@Senai Airport City by iPark Development Sdn Bhd

Best Mixed Use Development

WINNER: Tropicana Gardens by Tropicana Corporation Berhad

Best Retail Development

WINNER: Uno @ Bukit Raja by Rivertree Signatures
HIGHLY COMMENDED: Oasis 3 by Tropicana Danga Cove Sdn Bhd
HIGHLY COMMENDED: Vervea by Aspen Group & IKEA Southeast Asia

DESIGN AWARDS

Best Condo/Apartment Architectural Design

WINNER: Novo Ampang By Alfranko Development Sdn Bhd

Best Housing Architectural Design

WINNER: D’Art 18 Collection III by PH World
HIGHLY COMMENDED: Ayera Residences by Tropicana Danga Cove Sdn Bhd

Best Landscape Architectural Design

WINNER: QuayWest Residence by Asia Green Group

BEST OF MALAYSIA AWARDS

Best Condo Development (Malaysia)

WINNER: Tropicana Grandhill by Tropicana Corporation Berhad

Best Landed Development (Malaysia)

WINNER: Anantara Desaru Coast Residences by Minor International and Themed Attractions Resorts & Hotels

SPECIAL RECOGNITION AWARDS

Special Recognition for ESG (Environmental, Social, Governance)

WINNER: AME Development Sdn. Bhd.
WINNER: KLK Land
WINNER: Mah Sing Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd
WINNER: Tropicana Corporation Berhad
WINNER: UMLand

Special Recognition for CSR (Corporate Social Responsibility)

WINNER: AME Development Sdn. Bhd.
WINNER: Fieldman Construction Sdn Bhd
WINNER: Ideal Property Group
WINNER: KLK Land
WINNER: Mah Sing Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd
WINNER: Tropicana Corporation Berhad
WINNER: UMLand

Special Recognition in Sustainable Construction

WINNER: AME Development Sdn. Bhd.
WINNER: KLK Land
WINNER: Mah Sing Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd

Special Recognition in Sustainable Design

WINNER: AME Development Sdn. Bhd.
WINNER: Ideal Property Group
WINNER: Mah Sing Group Berhad

Special Recognition for Building Communities

WINNER: AME Development Sdn. Bhd.
WINNER: Ideal Property Group
WINNER: Mah Sing Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd
WINNER: UMLand

PUBLISHER’S CHOICE

Malaysia Real Estate Personality of the Year

WINNER: Sarena Cheah, Managing Director, Property Division, Sunway Berhad

— end of press release for PropertyGuru Asia Property Awards 2020–

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P
ress Release:
PropertyGuru: BNM’s OPR Cut a Boon for Property

Revision of OPR to 2.75% serves as stimulus for property market amid moderate economic prospects
Uptake and awareness of affordable housing among Malaysian home seekers still low
Financial literacy initiatives needed to support available financial assistance schemes

23 January 2020, Kuala Lumpur
 – Bank Negara Malaysia’s (BNM’s) revision of the Overnight Policy Rate (OPR) to 2.75%, while primarily a move to maintain economic growth amid a moderate domestic and global outlook, also serves as a stimulus for the nation’s property market, according to PropertyGuru Malaysia.

“While changes to the OPR have minimal impact upon home loan rates, with a cut of 25 basis points translating to a fractional reduction in loan instalments, it is still a silver lining for industry players largely overlooked by Budget 2020,” says Sheldon Fernandez, Country Manager, PropertyGuru Malaysia.

“However, the timing of the revision comes as a surprise, with many analysts having anticipated a steady OPR of 3% through January, with some projections extending this to mid-year. It is, nevertheless, a boon for Malaysian home seekers stricken by housing affordability, availability and financing challenges, as a step towards a more conducive lending environment.”

Potential upswing in consumer sentiment

As the prevailing rate at which banks borrow funds to finance loans, a reduction in the OPR will reduce interest rates applied to consumers for home loans and other financial instruments. This in turn leads to cheaper loans, with a
13% increase in loan approvals
 reported following a similar OPR cut to 3% in May 2019.

“The new OPR rate of 2.75% may lead to an upswing in purchaser sentiment as home seekers leverage on lower interest rates, with renewed interest in home ownership in the first quarter. As such, it is an opportune time to review the state of property and affordable housing in the market,” says Fernandez.

Bank Negara’s move is set against a backdrop of overpriced properties, prevalent loan rejections and a resulting residential overhang in the property segment, dashing the home ownership aspirations of younger home seekers in the country and placing a national emphasis on affordable housing efforts.

The residential overhang stood at
31,092 units as of Q3 2019
 according to the National Property Information Centre (Napic), representing the number of units remaining unsold nine months after launch, as defined by the Valuation and Property Services Department (JPPH).

Pricing and affordability concerns are generally cited as factors behind the slow uptake of these units. Despite calls for more affordable housing, many home seekers have not applied for – or may not even be aware of – the numerous housing schemes and financing initiatives designed to help these demographics purchase homes, according to PropertyGuru Malaysia’s most recent Consumer Sentiment Survey.

“By our findings, 63% of Malaysians feel that the government is not doing enough to make housing affordable. However, 30% also share that they have yet to apply for affordable housing schemes, and 3% even reported that they did not know such schemes existed,” says Fernandez.

“This shows that there’s room to improve in terms of awareness of affordable housing schemes in the country. In line with our commitment to being the property advisor of choice for Malaysia, particularly with the potential increase in sentiment following BNM’s OPR cut, we’ve reviewed existing schemes to help B40 and M40 purchasers in owning their own homes.”

Current housing schemes available include Perumahan Rakyat 1Malaysia (PR1MA), Rumah Selangorku, Residensi Wilayah (formerly RumaWIP), Skim Rumah Pertamaku and Program Perumahan Awam 1 Malaysia (PPA1M).

In addition to these, initiatives such as Bank Simpanan Nasional’s Youth Housing Scheme, Bank Negara Malaysia’s Fund for Affordable Homes and various rent-to-own (RTO) programmes have been launched to assist Malaysians in financing their home purchases.

However, uptake of these programmes leaves room to be desired. According to the PropertyGuru Consumer Sentiment Survey data, only 19% of respondents have applied for purchases under PR1MA. Other schemes fared even worse, with 9% applying to Rumah Selangorku, 7% to Residensi Wilayah, 6% to Skim Rumah Pertamaku and just 5% to PPA1M.

“Part of the problem is financial eligibility criteria. Each housing scheme may have different requirements, in terms of income as well as other factors. This can lead to confusion among home buyers as to which programmes they qualify for,” says Sheldon.

A question of financing

Some quarters have raised concerns that such housing and financing schemes may have unanticipated repercussions as well, with younger property purchasers committing themselves to lifelong financial commitments they are ill-equipped to handle. This is echoed by independent studies which have found that
RTO schemes can cost more in the long-run
 than conventional financing platforms.

“While this research needs to be taken into consideration, RTO programmes are still viable solutions for those who struggle with the upfront costs of home ownership,” says Ferndandez.

“In the end, no amount of income is sufficient to service monthly home loan commitments if spending is not managed carefully. This is why we applaud the move BNM has taken for its Fund for Affordable Homes, by making
Credit Counselling and Debt Management Agency (AKPK) financial education modules mandatory
 for those seeking financial assistance.”

The Fund for Affordable Homes is available until January 2021, or until its RM1 billion allocation is fully utilised. This programme has seen positive uptake, receiving
over 3,100 applications for funds totalling RM596 million
 as of November 2019.

For home seekers who opt for conventional home loans, a variety of financial eligibility tools such as
PropertyGuru Loan Pre-Approval
 (
https://www.propertyguru.com.my/preapproval
) are available for Malaysians to check their pre-approved loan amounts ahead of time, allowing them to avoid the financial black marks associated with home loan rejections.

— end of press release —

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Media Release:
PropertyGuru, Southeast Asia’s Leading Digital Property Marketplace Group, Plans To Go Public In Partnership With Bridgetown 2

PropertyGuru is Southeast Asia’s #1 digital property marketplace with leading positions in Singapore, Vietnam, Malaysia and Thailand

Transaction proceeds will be used to further accelerate organic growth and pursue M&A opportunities
Transaction values PropertyGuru at an enterprise value of approximately US$1.35 billion and an equity value of approximately US$1.78 billion

Transaction includes a fully committed US$100 million PIPE with participation from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia’s largest asset managers; REA Group has also committed to an additional US$32 million investment
PropertyGuru’s shareholders, including KKR, TPG Capital and REA Group, will retain over 70% ownership
 of the listed company

Singapore and Hong Kong  –
 July 24, 2021 – PropertyGuru Pte. Ltd. (“PropertyGuru” or “the Company”), Southeast Asia’s leading property technology (“PropTech”) company
1
, and Bridgetown 2 Holdings Limited (NASDAQ: BTNB) (“Bridgetown 2”), a special purpose acquisition company formed by Pacific Century Group (“Pacific Century”) and Thiel Capital LLC (“Thiel Capital”), announced today that they have entered into a business combination agreement. Upon closing, the combined company is expected to begin trading on the New York Stock Exchange (“NYSE”).

Founded in 2007, PropertyGuru has grown to become Southeast Asia’s #1 digital property marketplace with leading positions in Singapore, Vietnam, Malaysia and Thailand
1
. The Company currently hosts more than 2.8 million monthly real estate listings and serves 37 million monthly property seekers and 49,000 active property agents across the five largest economies in Southeast Asia – Indonesia, Malaysia, Singapore, Thailand and Vietnam.

PropertyGuru provides digital property marketplaces to match buyers and tenants with sellers and landlords; digital marketing services for property agents and developers; SaaS-based sales process automation for property developers, a digital mortgage marketplace and brokerage, and property data consultancy services for banks, valuers and property developers. The Company’s PropTech business model leverages proprietary data and technology to drive greater transparency and efficiency in the market and deliver a trusted platform for agents, consumers, developers and banks.

PropertyGuru’s high growth business delivered an average annual revenue growth of approximately 25% in the four years preceding the COVID-19 pandemic, and its pro-forma revenue is expected to have a compounded annual growth rate of 29% between CY20A and CY25F.

Well-Positioned to Capture Long-Term Market Opportunities

Southeast Asia is estimated to become the fourth largest economy in the world by 2030, driven by long-term macroeconomic trends, including urbanization, a rising middle class and digitalization. These favorable dynamics are creating significant opportunities in the region’s property market as an increasingly affluent and digital-first population seeks property across the region.

PropertyGuru has positioned itself to capture these growth opportunities through continued investment in its products and services to stay ahead of the evolving market and made a series of strategic acquisitions to add new capabilities and extend its leadership position. Over the last 18 months, the Company has:

Announced the acquisition of REA Group’s Malaysia and Thailand assets. The transaction is expected to close by the end of July 2021 – mid-August 2021.
Acquired MyProperty Data, Malaysia’s largest online property data company.
Introduced FastKey Storyteller – an immersive content experience that brings new projects to the buyer’s doorstep for viewing and to express interest, without having to wait for the construction of the sales gallery.
Launched PropertyGuru Finance – a digital mortgage marketplace and brokerage that offers smart, frictionless home financing financial services.
Introduced PropertyGuru Lens – a visual search feature that allows users to find property in the real world through their smart phone camera.

The Company expects that its continued investments will enable it to emerge from the pandemic even stronger. It also expects that the growth of its core offerings will allow it to successfully expand into adjacent opportunities, such as Developer Operating Systems and Home Services.

Management Commentary

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group
, said, “We have established a market leadership position in the Southeast Asian property ecosystem and a track record of revenue growth. Much of our success is the result of our investment in technology over the years and capturing strategic growth opportunities in recent times.

We have a story to be told and found the right partner to help us tell it to public market investors. We are delighted to partner with Bridgetown 2 as we accelerate our mission to be the trusted advisor for property. This process of becoming a public company will provide us with greater financial resources to do what we do best – helping people find, finance and own their homes in an efficient and transparent manner. We believe the strategic, proactive steps that we have taken over the past 18 months will enable us to stay ahead of the market’s evolving needs, which are increasingly being shaped by the growth of affluent and digitally-enabled populations living in cities across Southeast Asia.”

Matt Danzeisen, Chairman, Bridgetown 2
, said, “We evaluated a number of very impressive companies across Southeast Asia and PropertyGuru is the perfect fit for us. The Company is a category leader and category creator – they helped define the PropTech industry in Southeast Asia and have taken it to new heights by leveraging technology and data to create a trusted and transparent digital property marketplace.?We believe PropertyGuru is just scratching the surface of what it can deliver as Southeast Asia’s property market continues to accelerate, and we are excited to work with Hari and his talented team to capture the incredible opportunities that lie ahead.”

Peter Thiel, President, Thiel Capital
, said, “The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly. As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further.”

Richard Li, Founder and Chairman, Pacific Century Group
,

said, “Southeast Asia is a unique market in that it has very high economic growth but lacks quality services in many sectors. Fast growing middle-class, increased urbanization and technological disruption create a unique combination. We recognize the transformational impact of these long-term trends and are focused on operating our own core business and investing in local champions that are successfully leveraging technology to reshape the region’s economy and how people carry out their everyday lives.”

Transaction Overview

The combined company will have an enterprise value of approximately US$1.35 billion and an equity value of approximately US$1.78 billion at closing.

The transaction is expected to deliver up to US$431 million of gross proceeds through the contribution of up to US$299 million of cash held in Bridgetown 2’s trust account, a concurrent US$100 million private placement (“PIPE”) of common stock anchored by Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia’s largest asset managers, priced at US$10.00 per share, and an additional US$32 million equity investment from REA Group. KKR, TPG Group and REA Group will roll 100% of their equity into the combined company, demonstrating their continued commitment to the Company’s growth strategy.

The transaction is expected to close in the fourth quarter of 2021 or first quarter of 2022, subject to regulatory and stockholder approvals, and other customary closing conditions.

PropertyGuru’s management team, led by Chief Executive Officer and Managing Director Hari

V. Krishnan and Chief Financial Officer Joe Dische will continue to lead the public company after the completion of the transaction.

Advisors

Merrill Lynch (Singapore) Pte. Ltd. is serving as exclusive financial advisor to PropertyGuru.

Latham & Watkins LLP and Allen & Gledhill LLP are serving as legal advisors to PropertyGuru.

Merrill Lynch (Singapore) Pte. Ltd., Citigroup Global Markets Inc., KKR Capital Markets Asia Limited and TPG Capital BD, LLC are serving as placement agents to Bridgetown 2.
Skadden, Arps, Slate, Meagher & Flom LLP and Rajah & Tann Singapore LLP are serving as
legal advisors to Bridgetown 2.

Investor Presentation

PropertyGuru and Bridgetown 2 have posted an investor presentation to their respective websites, which can be accessed
here
 and
here
.

Bridgetown 2 filed a Current Report on Form 8-K, which includes a copy of the business combination agreement and the investor presentation, with the Securities and Exchange Commission and is available at
www.sec.gov
.

— eod of press release —

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PropertyGuru: Buyers’ Market, still. Asking prices dropped 2.3 percent

I think all of us are aware that the market is indeed slow. A close friend told me yesterday that last month she sold her condo unit because the rental was was too low compared to monthly repayments and she did not want to keep paying RM500 for maintenance fees every month. Her unit which was over 1,600 sq ft was once priced as high as RM900,000 in the market but she sold it for slightly over RM800,000. When it was just completed, she was once offered RM850,000. Fortunately for her, she bought it much earlier and thus could still earn some profits. The good thing for the property market is, she is now scouting for good deals. She hope there are others who are willing to sell lower, just like her.  PropertyGuru had just confirmed that situations like hers will still be happening for some time yet. Do read the Press Release below.

— start–

PropertyGuru: Property Market Remains Stable – Still A Buyers’ Market

PropertyGuru Market Index indicates market stability as asking prices decline marginally nationally with sideways movement seen in major property markets

KUALA LUMPUR, 20 November 2017
 – According to the PropertyGuru Market Index (PMI) which tracks the asking prices of homes in Malaysia, prices of residential homes on the whole, remain stable with a 0.2 percent decrease from Q2 2017 to Q3 2017. On a year-on-year comparison (Q3 2016 to Q3 2017), asking prices continue to show a drop of 2.3 percent.

Despite a recovery in consumer sentiment, asking prices have yet to reflect this positivity – a potential indicator that sellers are still unable to find buyers and are coming under pressure to moderate their asking prices to conclude property transactions. Hence, the slow appreciation on a nationwide level with some key markets such as Selangor and Penang continuing to show price decline on a quarterly basis.

The PMI is derived from PropertyGuru’s extensive proprietary data, which includes (but is not limited to) the asking prices of over 250,000 residential property listings on
PropertyGuru.com.my
.

“As mentioned before, 2016 and 2017 have largely been buyers’ markets and the market has stabilised. The PMI’s yearly and quarterly trend lines indicate this. Barring any unforeseen circumstances or major developments, this trend line will persist for the rest of 2017 and likely up to early 2018,” explained PropertyGuru Malaysia Country Manager, Sheldon Fernandez.

KL, Selangor and Penang Indices Show Declining Prices

 As prices moderate on a national level, the PMI indicated a drop of 1.4 percent in asking prices in Q3 2017 for Kuala Lumpur. The decline comes after a 0.4 percent increase in Q2 2017. On a year-on-year comparison (Q3 2017 to Q3 2016), KL properties saw prices decrease by 2.3 percent.

Despite a string of property launches, property prices in hotspots such as Bukit Jalil and Segambut remain under pressure due to weak demand. The PropertyGuru PMI shows asking prices for properties in Bukit Jalil declining by 2.0 percent in Q2 2017 and 1.0 percent in Q3 2017.

Property prices in Selangor continue to decline, albeit moderately. In Q2 2017, prices declined by 2.7 percent with a significantly smaller decline of 0.3 percent registered in Q3 2017. In a year-on-year comparison, the PMI for Selangor showed a 4.6 percent drop from Q3 2016.

Locations such as Setia Alam and Kajang show lower asking prices but bucking this trend are properties in Klang. For Q2 and Q3 2017, asking prices in Klang have appreciated by 0.4 percent and 1.2 percent respectively.

“Klang is now considered a property hotspot and growth area, especially with the imminent development of the LRT 3 and other infrastructure projects. Property investors are flocking to Klang to capitalise on the growth opportunity. We saw this in Klang, Sungai Buloh and other areas prior to the construction of the MRT line. Now the same is evident for Klang,” explained Fernandez.

In Penang, prices have been steadily dropping for six consecutive quarters since Q2 2016. The quarterly trend saw a 0.8 percent and 0.6 percent decrement for Q2 2017 and Q3 2017 respectively. On a yearly comparison prices were still 3.4 percent lower (Q3 2016 to Q3 2017).

Asking prices in key locations such as Paya Terubong and Batu Kawan continue to decline. In the former, the PropertyGuru PMI shows a 3.7 percent decline in Q2 2017 and a 0.8 percent drop in Q3 2017. In Batu Kawan, the PMI show a decline of 5.4 percent and 2.5 percent for Q2 2017 and Q3 2017 respectively. On the mainland, prices in Seberang Perai have also declined with the PMI indicating a drop of 5.6 percent for Q3 2017.

“The decline can be attributed to the impact of the various cooling measures introduced to the Penang property market that has led to a period of supply consolidation and price correction. These measures include price controls on affordable housing units with a 10-year and five-year suspension on low-cost, low-medium cost and affordable housing, respectively has resulted in the price adjustment,” shared Fernandez.

Fernandez also added that the impact of the floods in Penang is yet to be ascertained but could see property prices moving downwards further going forward.

Johor Sees Price Appreciation

The Johor property market remains an exception with prices strengthening by 0.5 percent and 1.7 percent in Q2 2017 and Q3 2017 respectively. On a yearly basis, Johor’s Market Index has experienced the most improvement with an increment of 7 percent from Q3 2016 to Q3 2017.

This is the 4
th
 consecutive quarter that Johor property prices have been on the uptrend. The entry of foreign property buyers may be a factor pushing asking prices up, coupled with the weakening Ringgit. Mega development Forest City has brought in foreign investments into Johor. This coincides with the Johor Market Index improving since Q3 2016 until Q3 2017.

In Johor Bahru city, asking prices show consecutive growth of 0.1 percent and 0.8 percent for Q2 and Q3 2017 respectively. Pasir Gudang also shows an upward trend of 0.4 percent in Q2 2017 and a whopping 11.6 percent in Q3 2017.

Unaffordability Remains

While prices have not appreciated much and asking prices have moderated, unaffordability remains a major issue with many potential buyers expressing dissatisfaction with prices.

“Our data shows that 50 percent of Malaysians wish to transact within this year. But despite the existing market stability and the incentives provided by property developers, consumers feel that properties are still overpriced. We’ll have to see how this plays in the upcoming quarter,” said Fernandez.

PMI is a comprehensive, insightful quarterly overview of home pricing trends at national level, as well as the key property markets of Kuala Lumpur, Selangor, Johor and Penang. The data is cleaned, aggregated and indexed to provide insights into price movements on a quarterly basis. The index also considers supply volume of properties from both the primary and resale markets.

The PMI is available to the public at:
http://www.propertyguru.com.my/marketindex
.

— end of Press Release —

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PropertyGuru claims Number 1, with 42 percent market share

With regards to the property market, I seriously believe online media will be the dominant media in the near future, perhaps as early as the next 3 years. Traditional media may become a strong complementary media where it completes the online presence and not the other way around. Just look at the bigger developer names and you may understand why I say so. The ‘battleground’ for the top of mind for its potential buyers are already fought online. Every development has its own site, own registration form and even own PR programmes. Seriously, when the property price becomes expensive, buyers need more information than just one page of black and white plus static and limited information.

Coming back to online media, as per reported in The Malay Mail just a few days ago, PropertyGuru said it is now number one in Malaysia. It said its market share grew from 20 percent the year before to 42 percent in 2015. With this number one position in its most competitive market, it is claiming the No. 1 spot for online property platform in South-East Asia too. Its Group CEO, Steve Melhuish said that the  results have been verified by digital measurement and analytics firm comScore Inc. Who is comScore? Read here:
www.comscore.com
 Besides Malaysia, its market share in Singapore, Thailand and Indonesia are 90 per cent, 60 per cent and 50 per cent respectively.

Steve further explained the significance of the Malaysian property market. “If you look at the Gross Domestic Product (GDP) of Malaysia, the contribution of the property or real estate sector is one of the largest — if not the largest — of the markets that we are present in. It’s also the second largest in terms of online penetration and online growth after Singapore, so Malaysia is our second largest market in terms of revenue.” However when asked about future acquisitions or listing, Steve said that there’s no hurry for new acquisitions. Initial public offering (IPO) is only potentially happening in the next two years. It received a US$129 million new funding just 9 months ago from a strategic consortium of three investors — global private investment firm TPG, Indonesian media group Emtek Group and Asia-Pacific-based tech venture capital firm Square Peg Capital.

His conclusion mirrors what’s really happening today. “The eyeballs are on online media, but most of the marketing spending goes to traditional media.” Seriously, are there anyone out there who buys as soon as they see a property advertisement in newspaper today? Really? Without checking for more information online before and after talking to the sales person? Happy reading, both online and offline.

written on 20 Apr 2016

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PropertyGuru: Demand Index Sees a Notable Increase by 7.93% Quarter-on-Quarter, Indicating More Positive Outlook for Property Landscape

Malaysia Property Market Report Q3 2022 registers an expected trend of gradual improvements, with upticks registered in the price and supply index.
Rental demand continues to increase by 12.89% QoQ and 96.83% YoY, as many Malaysians have halted making large purchases amid economic recovery.
Landed properties continue to outperform high-rise properties in the sales market, as house buyers prefer larger living areas.

Kuala Lumpur, 11 August 2022 –
PropertyGuru Malaysia
 announced that its
Malaysia Property Market Report (MPMR) Q3 2022,
 powered by PropertyGuru DataSense, saw an expected trend of gradual improvements, with the overall demand index moving upwards by 7.93% QoQ, despite being in negative territory in the previous quarter.

The report registered upward trends in several areas such as the Property Sale Market Index, Demand Index, and Supply Index across the landed and high-rise sectors. The slight improvements can be attributed to the transition of the COVID-19 endemic stage, allowing for the reopening of borders and increased productivity, leading to better consumer confidence.

Sheldon Fernandez, Country Manager, Malaysia (PropertyGuru.com.my and iProperty.com.my)
, shared, “As expected, the property market in the second quarter of the year saw a gradual trend of improvements, although it may not be fully out of the woods yet. Several ongoing factors such as the rising inflation, increase in the Overnight Policy Rate and affordability issues weigh in on the market conditions. While we have seen more activity in the last quarter, it will take some time before consumers are more confident in making large property decisions. The full impact of these factors will most likely be seen in the current quarter’s performance.”

Rental Demand Continues to Increase Amid Rising Inflation

With the
rising inflation of 3.4% as of June 2022
 and the
Overnight Policy Rate
 increase to 2.25% earlier this year, potential homebuyers may continue to be cautious in making large purchasing decisions.

This trend was also captured in the Malaysia Property Market Report Q3 2022, as rental demand continued on an upward trend, registering a 12.89% QoQ growth and a massive 96.83% YoY rise in Q2 2022.
With the ongoing inflation and worries of rising purchasing costs taking effect, potential homebuyers will gravitate towards rental as a short-term alternative, and the rental market will likely continue to expand to the year’s second half.

Meanwhile, the Rental Price index saw an increase of 2.82% QoQ and 4.46% YoY in Q2 2022. The slow but steady growth of asking rental prices is also leading to growth in the supply of rental properties, as landlords will be taking the opportunity to leverage the rising demand trend and enthusiastically listing properties.

Various Factors Contributing to Ongoing Market Recovery

According to the Malaysia Property Market Report Q3 2022, landed properties outperformed high-rise properties, with the Landed Sale Price Index moving upwards by 1.32% QoQ and 5% YoY in Q2 2022. There was also an uptick of 1.91% QoQ and 7.31% YoY in supply, indicating a slight increase in confidence for both buyers and sellers at this point.

This is consistent with the latest market report published by the Valuation and Property Services Department in April 2022, highlighting that the overall volume of property transactions increased by a marginal 1.5%. This comes on the back of transaction values rising by a significant 21.7%. The report also shared that the residential sub-sector is the largest contributor accounting for 66.2% of transaction volume and 53.1% of the transaction value.

Adding on to the gradual improvements seen in the last quarter, the reopening of borders after a long period of restrictions has brought back the prospect of the market’s expansion to appeal to foreign buyers. Findings by the Malaysian Development Investment Authority (MIDA) had indicated that Singaporean property investors were among the top 3 foreign direct investors in 2017 when exchange rate conditions were favourable.

Following that, Johor has also become a focus area based on findings in the Malaysia Property Market Report Q3 2022, seeing substantial demand for properties in the Kulai area, a township with a growing modern industrial presence and rapid urban revolution. Among the key reasons contributing to the substantial increase in demand of 32.60% QoQ and 43.17% YoY is its position within the Iskandar Economic Zone. The growth can be attributed to the availability of transportation, information technology, high-tech industry, education, business and property for companies and industries to establish themselves there.

“Based on our observations with the recent Malaysia Property Market Report, we can see that current conditions are now more favourable than market conditions during the pandemic. While these gradual improvements are noted, many potential homebuyers are still on the fence about making purchasing decisions. Overall, we hope to see market conditions continue to make moderate gains in the coming quarter”, Sheldon concluded.

– End –

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Do you want to get a free home? If yes, then do read on yeah.

Press Release: PropertyGuru is Giving Away A Free Home!

PropertyGuru gives back to Malaysians for making them the No. 1 property website
Help a deserving Malaysian to own a free home worth over RM600,000 by telling their story

Kuala Lumpur, 27 January –
With over 450,000 home choices, over 8 million monthly visits, and 47% market share, Malaysian property website
PropertyGuru
 has officially taken the lead as Malaysia’s No. 1 property website based on third-party sources. PropertyGuru is now commemorating this significant milestone with fellow Malaysians, by giving away a fully-furnished free home worth over RM600,000. Starting February 1, people can nominate a deserving Malaysian home seeker for the ‘
PropertyGuru Home Giveaway
’ initiative.

In a climate of escalating COVID-19 cases daily, Malaysians are being tested like never before. It is also more evident that many desire a home of their own, especially after experiencing lockdown, where personal space comes up as a priority amongst younger Malaysians.

1 in 3 Malaysians are intent on purchasing their own homes despite COVID-19 challenges, according to the recent Consumer Sentiment Study findings by the No. 1 property website,
PropertyGuru
. Nevertheless, Malaysians continue to cite inability to afford the down payment and unstable job salaries as top barriers to taking on a home loan.

Sheldon Fernandez, Country Manager, PropertyGuru Malaysia
 said, “Purchasing a home is already a task that requires a huge commitment and consideration from all aspects, so we can imagine how much more difficult it has been made by the pandemic. We’ve always stood with Malaysians when it came to finding a home and now, more than ever, we would like to give back.

With the
PropertyGuru Home Giveaway
 initiative, we would like to thank Malaysian property seekers for ranking us the No. 1 Property Website in Malaysia as this would not have been possible without the support and trust of Malaysians.

We would like to pay forward to fellow Malaysians with the
PropertyGuru Home Giveaway
 by giving a free fully-furnished home worth over RM600,000. To be a part of this initiative, nominate a deserving Malaysian home seeker who does not own a home, and share with us why they deserve this free home.

We have always aimed to serve Malaysians with the right properties, insights and solutions in making confident property decisions. This leadership position would not have been made possible without the support and trust of Malaysians and we are extremely grateful.”

Nominations for the
PropertyGuru Home Giveaway
 will begin on February 1, 2021, to turn a deserving home seeker into a proud homeowner of a fully-furnished, freehold home at Tropicana Metropark, Subang Jaya. More information can also be found on
www.PropertyGuru.com.my

Sheldon
further commented, “We also hope that the Malaysian spirit of ‘muhibah’ – our own true brand of goodwill and compassion, will shine through in this exercise of sharing stories and looking out for each other”.

Here’s How You Can Help A Deserving Malaysian to Own A Free Home:

Do you know someone who needs a home? From the nasi lemak
pakcik
 you meet every morning to a tired and weary frontliner, or from a single working mother to a diligent yet unassuming essential worker, or your own sister who’s working long hours every day to pay the rent and give her children good education – tell us a story to turn a Malaysian home seeker into a first-time homeowner! Here’s how you can nominate:

PropertyGuru Home Giveaway
 – A House For A Story:

Step 1:
 Nominate a home seeker (must not already own a home during the period of the campaign) by uploading their photo using the
PropertyGuru Home Giveaway Picture Frame
.
Step 2:
 Post the photo with the picture frame on your Facebook or Instagram to tell us why (in not more than 300 words) your nominee deserves to become a proud owner of a new home.
Step 3:
 Tag
@propertyguru.my
 (Facebook) and
@propertygurumalaysia
 (Instagram), include these hashtags #PropertyGuruIsNumber1 #PropertyGuruHomeGiveaway and make sure your post is set to ‘Public’.
Step 4:
 Inform us of your submission by commenting this on either our Facebook or Instagram post:
“
I have nominated
[tag your nominee’s Facebook or Instagram handle*].
Here’s the link to my post:
 [insert link to your nomination post on Facebook or Instagram]”

*If your nominee does not have a Facebook or Instagram account, please insert the full name of your nominee.

Malaysian support has propelled PropertyGuru to market leadership

PropertyGuru emerged as the No. 1 property website in Malaysia based on the Most Website Traffic (collectively verified by leading web analytics platforms
Comscore
,
Google Analytics
 and
Alexa
) and Most Time Spent (verified by SimilarWeb).

Based on 3-month average data (October to December 2020) from Comscore, PropertyGuru is leading with 65% traffic share. Google Analytics has also clocked in a monthly average of over 8 million visits in the past quarter. Alexa’s ranking measures website popularity, and PropertyGuru is now the top ranked site for property in Malaysia.

PropertyGuru Malaysia is also the Most Preferred website with 47% market share* as verified by SimilarWeb. Malaysian home buyers spend more time on
PropertyGuru.com.my
 than any other property website.

This feat has been consistently driven by PropertyGuru’s understanding of their user’s needs, starting with a variety of innovative proptech solutions, for home seekers, agents and property developers alike.

For home seekers, this includes the
PropertyGuru Loan Pre-Approval
, Malaysia’s first and only mortgage solution that provides a 99% accuracy check on home loan eligibility information to improve chances for more home buyers to secure home loans.

Other valuable tools include data-driven and timely insights on the property market such as the half-yearly
Consumer Sentiment Study
, quarterly
Property Market Index reports
 and annual
Property Market Outlook
 report.

Sheldon added
, “The pandemic has shown us that as a nation with diverse resources and expertise, we can get through this together. PropertyGuru would like to do its part in getting us all back up on our feet.”

For more details on the home giveaway, please visit:
www.PropertyGuru.com.my
 or
PropertyGuru Home Giveaway

— End of Press Release —

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PropertyGuru Group Launches Enterprise Brand – PropertyGuru For Business

Press Release: PropertyGuru Group Launches Enterprise Brand, PropertyGuru For Business

BANGKOK (Dec 8, 2022): PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or the “Company”), Southeast Asia’s leading1 , property technology (“PropTech”) company, today launched its enterprise brand, at the annual PropertyGuru Asia Real Estate Summit, where top business leaders from the real estate industry gather to share insights and network.

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group said, “Today, PropertyGuru completes fifteen years of operations, and we mark it with the launch of our enterprise solutions brand ‘PropertyGuru For Business’, that aims to guide enterprise clients such as property developers, agencies, banks, valuers, city planners and policy makers. It is our ambition to bring transparency within the real estate journey and create a trust platform for home seekers and our business partners. By harnessing the integrated power of our proprietary data, technology and people, we hope to empower our business partners and customers to make better informed decisions.

At an enterprise or a city level, these decisions can impact thousands, or even millions of people, and PropertyGuru For Business is here to guide our clients to maximise growth opportunities, while reducing risk and uncertainty. We believe PropertyGuru for Business is a timely launch as we hope to equip our enterprise clients with the right data, tools and
information to be able to navigate the uncertain economic conditions that lie ahead and be better prepared to serve their customers.”

PropertyGuru For Business includes a unified service and proprietary solutions such as DataSense, ValueNet, FastKey, event solutions as well as marketing-as-a-service (MaaS). Hari also announced that PropertyGuru For Business market insights and intelligence platform DataSense (formerly known as Vantage+) will introduce a new suite of features
and solutions catering to property developers to leverage analytics as a tool to improve their business. DataSense is currently available in Malaysia and will soon be introduced in our other markets – Singapore, Vietnam, Thailand and Indonesia.

PropertyGuru For Business’s debut at the event came at the right time as the property industry in Southeast Asia is undergoing a technology renaissance, with more enterprises and organisations looking towards digitalisation, making it an integral part of their operations transformation.

Shyn Yee Ho-Strangas, Managing Director for Data and Software Solutions (DSS), PropertyGuru Group said, “Recognising that countries have different approaches to land and property ownership, transaction and management processes, PropertyGuru For Business will be working with property stakeholders to improve systems in markets where
it operates by championing a nd enabling digitalisation so that all property stakeholders can leverage deeper insights to make more confident decisions in a more transparent property ecosystem.

Most Southeast Asian countries still have legacy systems and processes that are not digitally shared and are difficult to update, optimise and customise. However, for organisations or enterprises that are ready to harness the power of digital transformation, PropertyGuru For Business’s suite of products and solutions will have an answer for a broad range of clients seeking to leverage reliable data platforms and intelligent software to boost their competitiveness. Data and insights in property is not useful only for developers or aspiring developers – digitalisation benefits practically everyone in the orbit of the property sector such as banking, construction, and those offering professional services to the real estate industry.

It is our endeavour to support sustainability, innovation, and technology efforts throughout the region.”

Responding to the changing needs of the real estate industry, Jeremy Williams, Managing Director of Marketplaces, PropertyGuru Group, said, “Southeast Asia is witnessing a surge in demand for digitisation and Big Data, coupled with the ability to provide more personalised customer experiences. Consolidating our offerings and solutions into our single unified brand will enable us to better serve our clients, but more importantly, the people who rely on property data to make critical life decisions.” Jeremy concluded by saying, “PropertyGuru For Business will go beyond merely helping property stakeholders tap into millions of real estate listings, as it will be able to provide additional insights not available on other platforms to help clients see the larger picture.”

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Press Release: PropertyGuru Launches One-Stop Hub for HOC Projects As Property Recovers Post-Third Wave

With property in Malaysia on the recovery curve following the recent surge of COVID-19 cases nationwide, PropertyGuru Malaysia has launched a
one-stop platform
 (
https://bit.ly/35bVm9C
) for home seekers to review properties offered by developers under the national Home Ownership Campaign (HOC).

It also caters for growing digital preferences among home seekers, as property portals emerge as the property information source of choice for most (76%) of Malaysians.

In bringing developers, home seekers and agents together, PropertyGuru will showcase a collaboration between key industry players, with the goal of addressing real issues faced by home seekers nationwide with the use of property technology (PropTech) solutions, towards a speedier recovery for property in Malaysia.

Taking home ownership to heart

“Our goal is to address a frequent challenge arising out of digitisation trends, which is information disparity. Malaysians are aware of the benefits of buying a home under the HOC. However, information on exactly what properties and projects are available can be hard to find, or incomplete. It’s out there, but it has yet to be centralised, curated and conveniently packaged,” says Sheldon Fernandez, Country Manager, PropertyGuru Malaysia.

“That’s why we’ve put together the largest collection of HOC discounts with the greatest deals in Malaysia, including more than 110 participating projects from 30 developers. This is the first hub of its kind in the market, and it is proactively updated as we work with developers themselves. We know the home ownership journey can be difficult in these uncertain times, and we’re here to help as much as we can.”

The Home Ownership Campaign itself was reintroduced in the government’s Short-Term Economic Recovery Plan (PENJANA), and runs until 31 May 2021. It offers discounts of 10% or more for selected units in participating projects, along with stamp duty and instrument of transfer exemptions.

Towards a speedier recovery for property

“The HOC and related initiatives are particularly relevant as Malaysians struggle with home ownership in the face of employment and income loss amid the COVID-19 outbreak and a projected recession. These woes have been exacerbated by the recent resurgence of COVID-19 cases nationwide,” says Sheldon.

Despite these challenges, 81% of Malaysians shared they were eager to purchase a home by end-2021, underscoring the resilience of the housing market. Home ownership aspirations were particularly strong among younger home seekers and renters (51%) following months of restricted movement under the MCO.

However, price uncertainty (63%), difficulty in viewing properties (52%) and securing home loans (41%), and inability to obtain sufficient information (29%) were cited among the challenges most frequently faced by home seekers post-COVID-19.

Discounts and exemptions under the HOC, along with a deeply favourable lending environment, have gone some way towards addressing these price and financing concerns. However, accessibility of information about these initiatives, as well as physical viewings, remain challenging overall.

“As Malaysia’s largest property site, as recognised by the Malaysia Book of Records, we saw a market gap, and the opportunity to leverage on our PropTech advantage to consolidate HOC information in one place, accessible 24/7. As a platform, PropertyGuru supports PENJANA while driving the national housing agenda forward,” says Sheldon.

“It also brings developers, banks, home seekers and agents together to solve industry issues with the help of digital tools. It is this type of collaboration that the property market, and the nation, needs as it works towards normalising transaction volumes and values, as was seen in the National Property Information Centre’s H1 2020 data prior to the recent COVID-19 wave.”

— End Of Press Release —

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Press Release:  PropertyGuru – Impact of Slower GDP Growth on the Property Market

IMPACT OF SLOWER GDP GROWTH ON THE PROPERTY MARKET

by: Sheldon Fernandez, Country Manager, PropertyGuru Malaysia

The slowdown in gross domestic product (GDP) growth to 4.3% is well below earlier estimates of 4.8%, and more recent projections of 4.5%. This is in line with
our neutral outlook for property
 this year, with strong macroeconomic headwinds.

Slower economic growth translates to reduced accumulation of wealth, which is a prerequisite for home ownership.

As such, we anticipate further impacts to home seeker sentiment, though this may be buffered to some extent by Bank Negara Malaysia’s (BNM’s) timely Overnight Policy Rate (OPR) revision.

It should be noted that GDP expansion does not directly correlate to growth in the property market, with the latter influenced by other factors such as urbanisation, construction and demographical trends, typically following a cyclical pattern. However, the truism that a rising tide lifts all boats – as well as its inverse – applies.

Finally, while the recent global outbreak of the novel 2019-nCoV coronavirus strain has impacted supply and markets elsewhere, we see no direct impact on Malaysian property to date, though increased interest in domestic properties from international purchasers is possible in coming quarters, particularly in Penang.

— End of Press Release —

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Media Release: PropertyGuru Lists on the NYSE

~
US$254 million raised in public listing via completion of business combination with Bridgetown 2 with greater access to global financial markets to help support continued growth
Began trading today on the NYSE under the ticker “PGRU”
Dual celebrations in New York and Singapore to mark the milestone, as the Company opens the door to increased opportunities across Southeast Asia’s fast-growing property market

Singapore –
 March 19, 2022 – PropertyGuru Group Limited (NYSE: PGRU) (“PropertyGuru” or “the Company”), Southeast Asia’s leading
1
, property technology (“PropTech”) company, commenced trading on 18 March 2022 on the NYSE under the ticker “PGRU”. To mark its public debut, PropertyGuru held concurrent events in New York and Singapore to celebrate the milestone with the Company’s ‘gurus’ and partners from its Southeast Asian markets.

Hari V. Krishnan, Chief Executive Officer and Managing Director rings the ceremonial bell marking PropertyGuru’s debut as a public company on the NYSE

PropertyGuru opens the door to Southeast Asia

“Our successful listing on the NYSE will allow us to open more doors for the millions of residents across Southeast Asia looking for that perfect home or property investment,”
said

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru Group
 “We have a tremendous opportunity ahead of us as more affluent and digitally-enabled populations enter the real estate market. As a public company, we will also enable global investors to access this high-growth market.”

Celebrations at PropertyGuru’s headquarters in Singapore and across PropertyGuru’s markets

For additional video and picture of the celebrations, please visit:
https://www.linkedin.com/company/propertyguru/posts/?feedView=all
;
https://twitter.com/sgpropertyguru

— end of media release —

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