iProperty Group, the online advertising business serving the real estate industry, has launched a commercial property listing platform specifically targeted at investors and property agents, called CommercialAsia. The platform claims to streamline commercial property searches and allow users to get information regarding properties across countries. Moreover it will refine the search with latest industry trends and provide insights for investment decision-making. CommercialAsia, opens up the real estate market to users in Asia where they can rent or buy offices, industrial properties, retail properties and land.
Earlier this year, in a bid to expand throughout the region the Kuala Lumpur-based company merged with REA Group, a digital media business specializing in property. Post the merger, the users can now get a wide range of listings from multiple sources of commercial properties across the region as iProperty Group has market property portals in Malaysia, Thailand, Indonesia and Hong Kong, while REA Group operates Australian commercial property websites.
Sean Tan, General Manager and Chief Business Development Officer, Singapore, iProperty Group said, “Asian cross-border commercial property investment is rising, accounting for 33 per cent of commercial property investment transactions in the 12 months ending Q2 2016, the highest level since Q2 2008, according to Real Capital Analytics.”
“CommercialAsia helps sophisticated investors make well-informed decisions on cross-border real estate investment. Property agents also benefit as the platform allows them to tap into iProperty’s extensive network of savvy and experienced investors.”
CommercialAsia also claims to be planning to expand its property listings with the inclusion of Hong Kong and Indonesia and also aiming to host a knowledge and resource centre with information on regulation, policy, cross-border tax treaty updates, currency impact on valuations and expert forecasts for the industry. It provides access to and details of property agents specializing in cross-border and regional commercial property investments.
Earlier in June, this year, iProperty had launched Rebecca, stating it as the industry’s first AI powered property chat platform that gives property buyers and investors an avenue to search for properties. With the launch of CommercialAsia, iProperty Group is aiming to compete with its peers such as PropertyGuru, Star property and myproperty.