The Rea Group Ltd., a digital advertising firm that specialises in real estate property accounts has acquired a 17.2 percent equity stake in iProperty Group Ltd, the Kuala Lumpur-based owner of a network of property portal sites in Asia.
A press statement by iProperty Group Ltd said the Victoria, Australia-based Rea Group Ltd now owns the shares previously held by the French property portal, SeLoger.com and these are worth A$106 million (US$98.82 million). It quoted REA Group Ltd interim CEO Peter Tonagh as saying that the acquisition has now strategically positioned his advertising firm in one of the world's fastest growing real property markets.
Under the brand, iproperty.com, iProperty Group Ltd has Websites in Malaysia, Indonesia, Hong Kong, Macau, Singapore, India and the Philippines, serves four million consumers monthly, and is a marketing partner to 30,000 real property agents and 400 real estate developers across the region.
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