PropertyGuru and its efforts to 100% complete the real estate industry

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Almost every mall in Singapore is the same. Sure, the names and layouts can be different, but pick any random one off a list and it’s almost guaranteed to house a Uniqlo, a Fairprice supermarket, and a branch of traditional finger food chain Old Chang Kee, among other staples.

That’s all I could think of when I read today’s premium article featuring PropertyGuru, in which the firm talks about using its Mall Intelligence Module to help mall operators maximize their retail mix. Does that mean more cookie-cutter malls or differentiation? As a consumer, I wonder.

But that’s just one part of the firm’s puzzle. Read on to find out what else PropertyGuru is building.

Today we look at:

• PropertyGuru’s many-faceted business
• The lucky seven startups that are in Telkomsel Ventures and AppWorks’ Tinc accelerator program
• Other newsy highlights such as ByteDance’s latest big legal hire and the funding of a Myanmar-based human resources tech startup

Premium summary

PropertyGuru takes many approaches to the real estate market

Image credit: Timmy Loen

Over the five-plus years I’ve been at Tech in Asia, I’ve grown in many ways while still remaining in my niche: content.

I started as a branded content writer, and I’ve since become an editor, an event host, a panel discussion moderator, and much more. Sometimes, expanding one’s skill set doesn’t mean doing something radically different – it can simply mean finding new ways to capitalize on your abilities.

PropertyGuru is adamant that it wants to stay in the real estate game only, but it’s certainly found many ways to impact it.

• Mall rats: One of the firm’s newest services, the Mall Intelligence Module, gives mall operators and investors insights on the footfall, dwell time, and demographics of their malls’ visitors. It’s expected to track performance across nearly 200 malls by the end of 2024.
• GenAI makes another appearance: Last year, PropertyGuru launched its genAI tool to help property agents craft listings. According to CEO Hari Krishnan, 90% of its agents have used the product as of Q4 2023, and 75% are repeat users. “That’s an example of a product and the kind of investment we put into our agents. And because every agent makes this decision with their own wallet, that is why PropertyGuru has this kind of market share,” he says.
• ”Mortgage” is such a funny word: Another area of opportunity for the group is its mortgage marketplace PropertyGuru Finance. It brokered more than S$2 billion (US$1.5 billion) worth of home loans in Q1 2022, which increased to over S$6 billion (US$4.4 billion) by end-2023.

Read more: PropertyGuru makes big bet on mall analytics, progresses on loans business

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