IProperty launches site for commercial property
04 Oct 2016
IProperty Group launched CommercialAsia, a site for commercial property listings targeted at investors and real estate agents, in the wake of its acquisition by REA Group.
CommercialAsia aggregates listings from several sources, including Australia-based REA Group and IProperty Group. There are listings from Malaysia, Singapore and Australia on CommercialAsia.
The site aims to help investors make informed decisions on cross-border real estate investment. The platform also taps into IProperty’s network of investors, so information is shared between the sites.
CommercialAsia is also said to be planning to expand its property listings with the inclusion of listings from Hong Kong and Indonesia. It also plans to host a knowledge and resource center with information on regulation, policy, cross-border tax treaty updates, currency impact on valuations and expert forecasts for the industry.
Furthermore, it plans to give access to – and details of – property agents specializing in cross-border and regional commercial property investments.
This diversification competes with PropertyGuru’s commercial site called CommercialGuru, which features over 7,000 commercial properties for sale and rent with detailed information about each property.
CommercialGuru currently focuses on Singapore and received more than 500,000 visits in the three months to August, according to SimilarWeb stats (desktop and mobile sites).
CommercialAsia hasn’t reached the 5,000-visits mark yet. Some of the features mentioned above haven’t been rolled out in full yet, and appear to be in development, or shared. For instance, the leadership articles are pointing to IProperty.com.
IProperty Group owns leading property sites in Malaysia, Thailand, Indonesia and Hong Kong, while REA Group operates RealCommercial.com.au, Australia’s leading commercial property site.
IProperty was founded in 2007 by Patrick Grove, a Singapore-born serial entrepreneur and co-founder of Kuala Lumpur-based tech investment firm Catcha Group, which also recently made an initial public offer on the ASX for Frontier Digital Ventures, a company that invests in emerging markets.