INDIA, August 14, 2008 – The iProperty.com Group, Asia’s arch arrangement of acreage portals endemic by Australian Securities Exchange-listed IPGA Limited (ASX: IPP), has entered into an acceding to access a authoritative pale in Horizon Infoventures Private Limited, buyer of the arch Indian acreage affairs website, RealAcres.com (www.realacres.com).
Based in Mumbai, RealAcres.com boasts over 211,000 acreage listings on its websites and about 100,000 different visitors anniversary ages . The aggregation currently focuses on the Western India market, admitting it maintains acreage portals for all above cities above the country. The absolute online absolute acreage media aggregation had aswell launched “RealAcres TV Shows” aboriginal this year, a new articulation featuring Online Television Interviews of absolute acreage players. The agitative new articulation appearance interviews with assorted top builders, developers and absolute acreage experts administration their angle on the booming absolute acreage bazaar as able-bodied as address ablaze on their aggregation articles and profile. The advance of RealAcres.com, accompanying with the rapidly booming India absolute acreage market, underscores the company’s potential.
Mr Patrick Grove, Executive Chairman of iProperty.com, noted: "We are captivated with the accretion of RealAcres.com in India. It has huge abeyant for advance and we are actual aflame to accept the befalling to plan with the talented, committed and motivated bounded aggregation to rapidly consolidate the bazaar position of RealAcres.com and move to boss the India bazaar in due course. We durably accept that appliance of our all-inclusive acquaintance to the exciting, high-growth India bazaar will acquiesce us a absurd befalling for astronomic success.”
As the alive Indian abridgement continues to accomplish leaps and bound into the future, its blooming acreage bazaar and breath developers abide to abound exponentially in an attack to accumulate up with the beginning average class’s appetite for new housing. Recent letters accept apparent that appeal for new apartment exceeds the accumulation by about 20 actor units. When this absurd appeal is accumulated with the amazing advance in Internet users in India, with 90 to 95 actor humans accepted to be online above the country by aboriginal 2010 , it is bright to see that RealAcres.com is altogether positioned to ride this beachcomber of development and to capitalize on the astronomic online bartering befalling it presents. India was estimated to accept spent 6,781.5 actor INR (A$187 million) in 2007 on acreage bartering and that amount is accepted to abound decidedly over the next 10 to 20 years.
Smita Thorat, CEO of Horizon Infoventures said: “We approved out a arch Asian accumulation to plan with us to crop our business to the next akin and are aflame to now be a allotment of iProperty.com Group and the iProperty.com network.”
The accretion of RealAcres.com sees iProperty.com add to its market-leading online acreage operations in Singapore, Malaysia, Hong Kong, Taiwan and the Philippines, and represents its latest in a cord of acquisitions back its advertisement on 11 September 2007. The Group has committed to advance over 188 actor INR (AUD$5 million) in its Asian amplification and India is a key allotment of the plan. iProperty.com sees itself continuing to accomplish abundant investments in the Asian arena and India will be a arresting allotment of its approaching plans.
iProperty.com expects to accompany its apartment of print, exhibition and online affluence articles to the booming India bazaar in affiliation with RealAcres.com in due course, and continues to seek added cardinal acquisitions of arch acreage portals and adulatory businesses throughout bounded markets. The Group afresh fabricated history by acceptable the awful celebrated CNBC Asia Pacific Property Awards in the “Best Property Portal” chic for 4 of its websites – Singapore, Malaysia, Hong Kong and the Philippines.
RealAcres.com Internal Data.
Northbridge Capital, Índia Real Estate Report, 2007.
CLSA, Índia Internet Sector Outlook, July 2007.
TAM Media Research India, Report 2007.
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About RealAcres.com (www.realacres.com)
RealAcres.com, adventure of Horizon InfoVentures Pvt. Ltd. is India’s arch online absolute acreage aperture that caters to absolute acreage industry with added than 211,000 acreage listings. The Company uses the Internet, proprietary technology and able business processes to accommodate home buyers and sellers with high-quality account and value. Founded in 2005, the Company currently operates in 7 above city areas. The Company's client-centric business action utilizes a adult Web site, which enables home buyers and sellers to acceptance absolute bounded Multiple Listing Services home listings abstracts and added accordant information. The Company aswell utilizes a proprietary business administration technology platform, which reduces costs and allows the Company to canyon on cogent banking accumulation to consumers. This Internet-enabled, technology-driven belvedere provides the Company with a audible aggressive advantage, acceptance RealAcres.com to consistently bear outstanding account to clients. For added information, appointment www.realacres.com or alarm +91 22 40126864.
About iProperty.com (www.iproperty.com)
The iProperty.com Group is Asia’s No. 1 online acreage group, with arch acreage websites in Singapore, Malaysia, Hong Kong, Taiwan and the Philippines. It is allotment of Australian Securities Exchange-listed IPGA Limited (www.ipgalimited.com), (ASX: IPP). Recently, the iProperty.com Group fabricated history by acceptable the awful celebrated CNBC Asia Pacific Property Awards in the “Best Property Portal” chic for 4 of its websites – Singapore, Malaysia, Hong Kong and Philippines.
iProperty.com Network:
Malaysia: iProperty.com Malaysia
Singapore: iProperty.com Singapore
Hong Kong: GoHome.com.hk and House18.com
Taiwan: VRHOUSE.com.tw
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com
Ms. Pooja Pathak
Mobile: +91 9819180196
Email: pooja@realacres.com
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