PropertyGuru Group, the Asia's leading online property portal group and Singapore start-up, announced on Wednesday that it has purchased the real estate media businesses of Ensign Media, a company headquartered in Singapore.
The purchase of Ensign Media includes 'Property Report', a bi-monthly regional luxury property and lifestyle magazine and website that publishes news and insights on such investment destinations. Apart from the magazine, it also includes Asia Property Awards, the region's biggest, best-recognised and respected property industry awards, held in Thailand, the Philippines, Malaysia, Cambodia, Myanmar, Indonesia and Vietnam annually.
With this full asset purchase, the existing staff of Ensign will be absorbed into PropertyGuru.
The group states that through the combination of the reach of PropertyGuru and Ensign, even more real estate developers and partners across the region will have the opportunity for industry recognition.
In addition, real estate advertisers across Asia can now work with PropertyGuru -- a single media partner -- to support their regional branding initiatives across multiple platforms, reaching a wider audience and driving more real estate transactions.
PropertyGuru's 14 million users and Property Report's 70,000 online and offline readers, 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.
Steve Melhuish, CEO and Co-Founder of PropertyGuru, said, "We're excited to welcome the Ensign team and businesses to PropertyGuru. This latest acquisition strengthens the Group's content, geographic reach and services we provide to real estate developers regionally.
"With the recent implementation of the ASEAN Economic Community (AEC), ASEAN has been forecast to become the world's fourth largest economy by 2030. In the next ten to fifteen years, we expect increasing cross-border movements and foreign investments, creating more demand for properties in these markets. With 14 million property seekers from all over the world using our online portals every month, searching for the right property, gathering trends, insightful news and feature stories, PropertyGuru is well-placed to help them find the home they've always dreamed about."
Ensign's founder, Terry Blackburn, who will be joining PropertyGuru to continue to drive growth in the Asia Property Awards and Property Report, said, "Over the past 10 years, Property Report has established an expertise in providing its readership with the latest insights on luxury property investment in Asia, and we are very excited about this next stage. The Asia Property Awards are already the region's largest and most respected real estate awards and now, with PropertyGuru's support, they will be even bigger in 2016 and the years ahead. This is great news, both for developers seeking credible recognition, and for investors looking for the region's best properties. Together with PropertyGuru, we will ensure that award winners in the world's most exciting real estate destinations receive the widest possible recognition for their achievements."
The acquisition of the Ensign businesses is said to further strengthen PropertyGuru's integrated property media capability, combining the company's leading online property sites and its 20 property shows across the region, with a leading print and online publication and property industry awards platform in Asia.