Singapore’s Property Site 99.co Acquires Urbanindo
Singapore’s property portal 99.co has acquired one of Indonesia’s local
property sites Urbanindo. By this means, 99.co will also take Urbanindo’s
staff to support team operational in Bandung, Surabaya, Jakarta and Singapore
region. The unity of product’s database into 99.co’s portal is included in
the post-acquisition plan. 99.co property portal just had an official
launching in Indonesia on the early 2017 by presenting sites and apps based
“We are glad to welcome UrbanIndo team to join 99.co family, they have a
great team and created an essential leadership in product, listing and
consumer’s demand which going to lead us in targeting 10 times growth of
Indonesia’s population,” said Darius Cheung, 99.co’s CEO.
In Indonesia, 99.co is claimed to collect support from approximately 4000
property agents and strategic partners. This is an important marketplace,
because there is more than $150million transaction per year for property
business as predicted. The merger with UrbanIndo is expected to be a starting
point for dominating property business portal in Southeast Asia, hence
Indonesia and Singapore are the two biggest marketplace.
“By synergy of both team in two countries, we will create the finest product
to serve customer, agent and developer, with an objective to be a number one
property technology company in Southeast Asia,” said Petra Barus, UrbanIndo’s
Seeing market segment for property sites in Indonesia, 99.co or UrbanIndo
surely not the only high levels. There are other platforms getting support
from the experts such as Rumah123 (supported by iProperty), Rumah.com and
RumahDijual (supported by PropertyGuru), Lamudi Indonesia (supported by
Lamudi) and some other players. UrbanIndo itself has planned a regional
expansion by creating new product variants.
Original article is in Indonesian, translated by Kristin Siagian
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