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VC-backed PropertyGuru acquires eProperty Track

  • Holden Mann
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Singapore-based online real estate portal PropertyGuru, which recently raised funds from TPG Capital, Emtek Group and Square Peg Capital, has bought sales and marketing platform ePropertyTrack.

According to a release, ePropertyTrack, which provides interactive sales tools to connect real estate agents with developers, will continue to function independently of PropertyGuru for the time being, although there are plans for collaboration on a regional basis in the future. The amount of the transaction has not been disclosed.

ePropertyTrack's sales tools cover more than 90% of new projects in Singapore and give agents access to information from developers such as project reservation information, floor plans and virtual tours of properties, inventory management and analytics. It also allows interaction between agents and potential buyers, and direct real-time bookings with developers.

PropertyGuru has offices in Singapore, Malaysia, Indonesia and Thailand, and claims to be the market leader in all except Malaysia. Its purchase of ePropertyTrack, which is based in Singapore and has an office in Kuala Lumpur, comes shortly after TPG, Square Peg and Emtek invested S$175 million ($129 million) into PropertyGuru.

The acquisition is an attempt by PropertyGuru to expand its knowledge of new construction projects, which accounted for nearly S$40 billion worth of deals in Singapore's real estate sector in 2014.

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