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Thursday, August 21, 2008 acquires Taiwan portal

The Group, owner of Asia’s leading network of property portals and Malaysia’s No. 1 real estate website, has acquired Taiwan’s online property portal,

In a statement yesterday, iProperty said the portal, owned by Info-Portal Tech International Co Ltd, was Chinese language-based and ranked No. 1 in terms of user traffic, developer clients and revenue.

“In total, over 225,000 users view and use VRHouse’s property listings and services monthly,” it said.

iProperty’s group chairman Patrick Grove said the company’s experience in Malaysia, Hong Kong and the Philippines would allow it to bring a strong value-add proposition to VRHouse.

“We also look forward to working with the dynamic, entrepreneurial local team to further dominate the Taiwan market and the region at large,” he said.

Grove said the acquisition would complete the company’s ownership of market-leading property portals across the Chinese diaspora in the region. “We are further excited by the recent political events and strengthening of ties with China which is expected to lead to a significant increase in mainland Chinese investing in Taiwanese property.

“We plan to position VRHouse as a key media property that facilitates this process,” he said.

Grove said the group would continue to seek further strategic acquisitions of leading property portals and complementary businesses throughout regional markets.

By Bernama

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