REA Group Expands Syndication Model with iProperty
Following a successful trial in September where approximately 3,000 myfun.com listings were syndicated to iProperty Group's international platform, the syndication is expanding to include more than 40,000 Australian property listings from myfun.com, which include residential and commercial listings and development projects.
How It Works:
From today all listings found on myfun.com will be syndicated to iProperty's sites in Malaysia, Singapore, Philippines, Hong Kong, Macao, Indonesia and Thailand. This is in addition to current syndication partners across China and Hong Kong (fang.com, ausproperty.cn, squarefoot.com.hk and gohome.com.hk).
The increased international syndication will significantly expand the audience of people looking at properties advertised on myfun.com, and cater to the increased interest in Australian property from buyers located in China and Southeast Asia.
Chief Operating Officer - International Arthur Charlaftis said: "More than ever, real estate is a global proposition and we are delighted to be able to support our customers and their vendors in extending the reach of their property listings to the largest and most engaged audience in South East Asia. The Australian property market is incredibly appealing to overseas investors and the opportunity to connect with a potential buyer, wherever they may be based, should be a priority for all property owners."
The expansion follows the announcement made by myfun.com's parent company REA Group on 2 November 2015 that it intends to acquire 100% of iProperty Group in early 2016. REA Group currently has a 22.7% shareholding in iProperty.
About REA Group Limited: (www.rea-group.com):
REA Group Limited (ASX:REA) (OTCMKTS:RPGRF) is a multinational digital advertising business specialising in property. REA operates Australia's leading residential and commercial property websites, realestate.com.au and realcommercial.com.au, European sites casa.it, atHome.lu and immoRegion.fr, and Chinese property site myfun.com. REA also has a significant shareholding in US based Move, Inc. and ASX listed iProperty Group Ltd (IPP) which operates a number of property portals in Asia.
About iProperty Group Ltd
Headquartered in Kuala Lumpur, Malaysia, iProperty Group Ltd (ASX:IPP) is focused on developing and operating leading real estate portals and delivering the most comprehensive set of related real estate services and project marketing across the Region. The Group owns portals which are market leaders in Malaysia, Thailand, Indonesia and the Hong Kong Region and a leading portal in Singapore. The iProperty Group is continuously working to capitalise on its market-leading positions and the rapidly growing online property advertising market throughout the region.
REA Group Limited
iProperty Group Ltd