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PropertyGuru on Wednesday (13 January) announced its latest acquisition following the purchase of Ensign Media’s real estate media businesses, Property Report and Asia Property Awards.
Ensign Media — which owns Property Report, a regional luxury property and lifestyle magazine and website, and Asia Property Awards, the region’s biggest property industry awards that are held in nine countries annually — is headquartered in Singapore.
PropertyGuru has 14 million users while Property Report has 70,000 online and offline readers. Following this acquisition, these users will have combined access to PropertyGuru’s 600 monthly research and news articles published in three languages across four markets, and Property Report’s 100 plus online features per month.
“The latest acquisition strengthens [PropertyGuru’s] content, geographic reach and services we provide to real estate developers regionally,” said Steve Melhuish, PropertyGuru co-founder and group CEO.
The group also said the acquisition will strengthen its integrated property media capability — combining the company’s leading online property sites and its property shows with a leading print and online publication and a highly successful and prestigious property industry awards platform in Asia.
“The Asia Property Awards are already the region’s largest and most respected real estate awards,” said Ensign founder Terry Blackburn, “now with PropertyGuru’s support, [Asia Property Awards] will be even bigger in 2016 and the years ahead.”
With this full asset purchase, Ensign Media’s existing staff will be absorbed into PropertyGuru, the group said in a press release.
Image: Terry Blackburn, founder and CEO of Ensign Media (L) and Steve Melhuish, CEO and co-founder of PropertyGuru (R), during the announcement of the acquisition of Ensign Media’s real estate assets “Property Report” and “Asia Property Awards” by PropertyGuru Group.
Nikki De Guzman, Editor at CommercialGuru wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg