The 16th PropertyGuru Asia Property Awards Grand Final celebrates the Gold Standard bearers of real estate

THE BEST OF ASIA DISTINGUISHED IN CELEBRATORY VIRTUAL FINALE OF THE 2021 PROPERTYGURU ASIA PROPERTY AWARDS SERIES   

 
• Sinar Mas Land bests nine companies across the region for the coveted title of Best Developer (Asia), one of seven regional wins for Indonesia
• Country winners from Vietnam, Mainland China, Hong Kong, Singapore, Philippines, Thailand, Cambodia, and Greater Niseko (Japan) collect coveted regional accolades at innovative virtual gala celebration 
• Liam Wee Sin, Group Chief Executive of UOL Group Limited, accepts the 2021 PropertyGuru Icon Award
 
BANGKOK, Thailand — 9 December 2021
 
PropertyGuru Group, Southeast Asia’s leading property technology company, revealed today the winners of the 16th Annual PropertyGuru Asia Property Awards Grand Final, presented by Kohler and supported by Leading Real Estate Companies of the World®. 
 
The 2021 PropertyGuru Asia Property Awards series culminated in the celebratory virtual finale that accoladed Asia Pacific’s most illustrious, exemplary developers, developments and designs in 31 categories. The innovative celebration, filmed according to current health and safety protocols, made its global premiere over various digital platforms, including the awards programme’s official website AsiaPropertyAwards.com, as well as YouTube, Facebook, and LinkedIn. Highlights of the show are set to air on the History Channel, the official cable TV partner of the awards. 
 
For the first time in the history of the awards, a company from Indonesia, Sinar Mas Land, won the title of Best Developer (Asia), besting nine country winners from around the region. It marks one of seven Best of Asia titles presented to companies representing Indonesia this year, including Best Mixed Use Developer (Asia) for PT Metropolitan Kentjana Tbk, which also won Best Retail Development (Asia) for Pondok Indah Mall 3; Best Commercial Developer (Asia) for Agung Sedayu Group; and Best Boutique Developer (Asia) for Farpoint. Paramount Petals by Paramount Land won Best Township Masterplan Design (Asia) while SMI Tower by Simbiotik Multitalenta Indonesia won Best Office Architectural Design (Asia).
 
Vietnam gained six regional wins, including the Best Lifestyle Developer (Asia) title for Gamuda Land (HCMC) JSC. and Best Sustainable Developer (Asia) for CapitaLand Development (Vietnam). Two of the year’s most competitive titles, Best Condo Architectural Design (Asia) and Best Landscape Architectural Design (Asia), were awarded to Promena by National Housing Organization, JSC. and Grand Marina, Saigon by Masterise Homes, respectively. The Best Industrial Development (Asia) title was awarded to Binh Duong Industrial Park by Frasers Property Vietnam while the Best Hotel Interior Design (Asia) title was awarded to Park Hyatt Phu Quoc Residences by BIM Land (a member of BIM Group).
 
Mainland China was also well represented at the awards with five regional wins, including the all-new Special Recognition for Contribution to the Built Environment, awarded to OCT OH Bay 宝安欢乐港湾  by Laguarda.Low Architects. Guangzhou Yuexiu Commercial Real Estate Investment & Management Co., Ltd won Best Mixed Use Development (Asia) and Best Office Development (Asia) for Guangzhou International Commercial Center and Yuexiu Fortune Center, respectively. Benoy won Best Retail Architectural Design (Asia) for its work on Sanya CDF Mall II 三亚国际免税城二期 while Hangzhou 9M Architectural Design Co., Ltd. 杭州九米建筑设计有限公司 won Best Housing Architectural Design (Asia) for its work on Greentown Xixi Yunlu 杭州绿城西溪雲庐.
 
Projects from Hong Kong gained two regional wins: Best Housing Development (Asia) for Mt. La Vie by Sino-Ocean Group and Best Mixed Use Architectural Design (Asia) for Commercial Development at Kiu Tau Wai, Yuen Long by Atelier Global. 
 
Singapore scored four regional wins, including the all-new award of Best Hospitality Developer (Asia) for UOL Group Limited. The Best Green Development (Asia) and Best Hotel Architectural Design (Asia) titles were also awarded to UOL Group Limited for Pan Pacific Orchard. Park Nova by Shun Tak Holdings bested 14 projects across the region for the highly competitive title of Best Condo Development (Asia).
 
The Philippines and Thailand collected two regional wins each. The Best Industrial Developer (Asia) award was presented to Aboitiz InfraCapital, Inc. (Integrated Economic Centers) while the Best Township Development (Asia) award went to Davao Global Township (DGT) by Cebu Landmasters, Inc. Kimpton Kitalay Samui by Choengmon Real Estate Company Limited was named Best Hotel Development (Asia) while Maison Blanche – Sukhumvit 67 by Baan Sasidara Co., Ltd. garnered the title of Best Housing Interior Design (Asia).
 
The award of Best Breakthrough Developer (Asia), one of nine Developer categories this year, was presented to Mekong Land Development Co., Ltd. from Cambodia. 
 
From Greater Niseko in Japan, SC Global Developments Pte Ltd won Best Condo Interior Design (Asia) for Setsu Niseko. 
 
The 2021 PropertyGuru Icon Award, a title decided by editors of PropertyGuru Property Report Magazine, was presented to Liam Wee Sin, the Group Chief Executive of UOL Group Limited. The award honours the industry leader for the growth and leadership he has exhibited since receiving the Singapore Real Estate Personality of the Year award in 2015. UOL Group Limited itself was a previous recipient of the Best Developer (Asia) accolade. 
 
Liam Wee Sin said: “This award is a testimony to the hard work and resilience of my people at UOL Group Limited and Pan Pacific Hotels Group amidst a challenging business environment.”
 
About 135 companies were in contention for this year’s regional accolades. The shortlist had been selected from the elite pool of award-winning companies and projects distinguished by the PropertyGuru Asia Property Awards’ series of hybrid and virtual gala celebrations in 2021. 
 
Hari V. Krishnan, Chief Executive Officer of PropertyGuru Group, said: “The PropertyGuru Asia Property Awards series has become the Gold Standard of real estate in 16 markets over the last 16 years. This year’s award recipients remind us that recent setbacks neither hinder nor diminish the fundamental value of celebrating success. In 2021, the PropertyGuru Asia Property Awards have encouraged developers, large-scale investors, and designers to become better versions of themselves, creating the next generation of real estate developments and helping industry stakeholders make higher-quality decisions than ever. Congratulations to all our winners!” 
 
Jules Kay, Managing Director of PropertyGuru Asia Property Awards and Events, said: “There’s no doubt that the PropertyGuru Asia Property Awards have become the most respected and sought-after real estate awards series in the Asia Pacific region. When we switched to a virtual platform last year in many countries, our digital and hybrid gala presentations were viewed by over half a million people across 11 regional markets. This year, we have granted over 360 awards in our country series. And through this recognition of developers’ varied achievements, we hope to motivate leading industry players as they continue to break the boundaries of development and design and stay resolute in their mission to uphold the Gold Standard in real estate, no matter the challenges.”
 
The independent jury behind this year’s Grand Final consist of the head judges of participating markets in the awards programme: Thien Duong, Awards Grand Final Chairperson and Managing Director of Transform Architecture (Vietnam); Amit Khanna, Managing Director, Phoenix Advisers (India); Bill Barnett, Founder and Managing Director, C9 Hotelworks (Greater Niseko); Christophe Vicic, Country Head, Jones Lang LaSalle Philippines, Inc. (Philippines); Doddy A. Tjahjadi, Managing Director, PTI Architects (Indonesia); Ken Ip, Assistant General Manager and Group Head of Marketing at B.S.C. Group (Mainland China); Kristin Thorsteins, Head of Partnerships – SEA, IWG PLC (Singapore); Lui Violanti, Regional Manager for Western Australia, Inhabit Group (Australia); Dr. Nirmal De Silva, Director and CEO, Paramount Realty (Sri Lanka); Paul Tse, President, Board of Directors, Macao Association of Building Contractors and Developers (Hong Kong and Macau); Prem Kumar, Deputy Managing Director, Jones Lang Wootton (Malaysia); Sorn Seap, Executive Vice President, Cambodian Valuers and Estate Agents Association (Cambodia); and Suphin Mechuchep, Chairperson, JLL Thailand (Thailand).
 
HLB, the leading international accounting and advisory firm, maintained the fairness, transparency and credibility of the judging process. These were made possible by the leadership of Paul Ashburn, Co-Managing Partner of HLB Thailand and ASPAC Leader at HLB Real Estate Group.
 
Since it was established in Thailand in 2005, the PropertyGuru Asia Property Awards programme has expanded to become the Gold Standard of real estate in 16 property markets, including Australia, Greater Niseko (Japan), India, Mainland China, Hong Kong, Macau, and Sri Lanka. 
 
Organised by PropertyGuru Group, the 16th Annual PropertyGuru Asia Property Awards Grand Final is supported by platinum sponsor Kohler; gold sponsor Leading Real Estate Companies of the World®; official portal partners Batdongsan.com.vn, DDProperty.com, PropertyGuru.com.my, PropertyGuru.com.sg, and Rumah.com; official cable TV partner History Channel; official magazine PropertyGuru Property Report; official PR partners Dreamhub Consultancy, FleishmanHillard, Infinity Communications, Klareco Communications, MMG Group, PR Wire Consultancy, T&H Communications, and Two Way PR; official charity partner Right To Play; official ESG partner Baan Dek Foundation; supporting associations Asia MarTech Society, British Chamber of Commerce Thailand, Ceylon Institute of Builders, Design Epoch, Global Design Awards Lab, Green Building Consulting & Engineering, and Singapore Estate Agents Association; and official supervisor HLB.
 
For more information, email [email protected] or visit the official website: AsiaPropertyAwards.com.
 
LIST OF REGIONAL AND COUNTRY WINNERS
16th PropertyGuru Asia Property Awards Grand Final
 
DEVELOPER AWARDS
 
Best Developer (Asia) 
Great Eagle Holdings Limited — China – Hong Kong
GuocoLand — Singapore
Home Lands Skyline (Pvt) Ltd — Sri Lanka
Sansiri Public Company Limited — Thailand
SC Global Developments Pte Ltd — Greater Niseko
Sinar Mas Land — Indonesia (REGIONAL WINNER)
SM Development Corporation (SMDC) — Philippines
Sunteck Realty Ltd — India
Tropicana Corporation Berhad — Malaysia
Urbanland — Cambodia
 
Best Lifestyle Developer (Asia) 
Astra Land Indonesia — Indonesia
Aurum Land — Singapore
Gamuda Land (HCMC) JSC. — Vietnam (REGIONAL WINNER)
Kelsey Developments PLC — Sri Lanka
OCR Group Berhad — Malaysia
SM Development Corporation (SMDC) — Philippines
Sophea Suites Co., Ltd — Cambodia
 
Best Mixed Use Developer (Asia) 
PT Metropolitan Kentjana Tbk — Indonesia (REGIONAL WINNER)
 
Best Hospitality Developer (Asia) 
Habitat Hospitality Co., Ltd. — Thailand
UOL Group Limited — Singapore (REGIONAL WINNER)
 
Best Commercial Developer (Asia) 
Agung Sedayu Group — Indonesia (REGIONAL WINNER)
 
Best Industrial Developer (Asia) 
Aboitiz InfraCapital, Inc. (Integrated Economic Centers) — Philippines (REGIONAL WINNER)
 
Best Sustainable Developer (Asia) 
CapitaLand Development (Vietnam) — Vietnam (REGIONAL WINNER)
PT Intiland Development Tbk — Indonesia
 
Best Boutique Developer (Asia) 
Aurum Land — Singapore
Farpoint — Indonesia (REGIONAL WINNER)
Habitat Group Co., Ltd. — Thailand
National Housing Organization, JSC — Vietnam
 
Best Breakthrough Developer (Asia) 
Andaman Asset Solution Co., Ltd. — Thailand
CSC Land Group (Singapore) Pte Ltd — Singapore
Mekong Land Development Co., Ltd — Cambodia (REGIONAL WINNER)
PIK — Philippines
PT Adhi Commuter Properti — Indonesia
 
DEVELOPMENT AWARDS
 
Best Township Development (Asia) 
Davao Global Township (DGT) by Cebu Landmasters, Inc. — Philippines (REGIONAL WINNER)
Jababeka Residence by PT Jababeka Tbk — Indonesia
Mutiara Rini Skudai by Boustead Properties Berhad — Malaysia
 
Best Industrial Development (Asia) 
Binh Duong Industrial Park by Frasers Property Vietnam — Vietnam (REGIONAL WINNER)
Food21 by Logos Group — Singapore
GIIC @ Kota Deltamas by Sinar Mas Land & Sojitz Corporation — Indonesia
Lima Estate by Aboitiz InfraCapital, Inc. (Integrated Economic Centers) — Philippines
The Detached Factories by Sime Darby Property (Bukit Raja) Sdn. Bhd. — Malaysia
 
Best Mixed Use Development (Asia) 
Gold City by SM Development Corporation (SMDC) — Philippines
Guangzhou International Commercial Center by Guangzhou Yuexiu Commercial Real Estate Investment & Management Co., Ltd 越秀·财富中心 by 广州越秀商业地产投资管理有限公司 — Mainland China (REGIONAL WINNER)
Patria de Cebu by Cebu Landmasters, Inc. — Philippines
Prince Happiness Plaza by Prince Real Estate (Cambodia) Group Co., Ltd. — Cambodia
Sindhorn Village by Siam Sindhorn Co., Ltd. — Thailand
Southgate Residence at TB Simatupang Area by Sinar Mas Land — Indonesia
Terra by Putrajaya Holdings Sdn Bhd — Malaysia
The Pavilions Niseko & The Ginto Residences by The Pavilions Niseko KK — Greater Niseko
 
Best Hotel Development (Asia) 
Dharma Niseko (達磨 ニセコ) by Parry (Group) Property Investment & Development Company Ltd — Greater Niseko
InterContinental Hotel & Residences Jakarta Pondok Indah by PT Metropolitan Kentjana Tbk — Indonesia
Kimpton Kitalay Samui by Choengmon Real Estate Company Limited — Thailand (REGIONAL WINNER)
The Botanica Sanctuary by Agung Sedayu Group — Indonesia
 
Best Office Development (Asia) 
107 Aguirre by Atlasland — Philippines
Thanh Cong Tower by TCG Land – a member of Thanh Cong Group — Vietnam
Telkom Landmark Tower Surabaya by Telkom Property — Indonesia
Yuexiu Fortune Center by Guangzhou Yuexiu Commercial Real Estate Investment & Management Co., Ltd — Mainland China (REGIONAL WINNER)
 
Best Retail Development (Asia) 
KCC City Business Park, Muar by KCC Realty — Malaysia
Pondok Indah Mall 3 by PT Metropolitan Kentjana Tbk — Indonesia (REGIONAL WINNER)
Zhongshan Huafa Mall by Zhuhai Huafa Properties Co., Ltd. 中山华发商都 by 珠海华发实业股份有限公司 — Mainland China
 
Best Condo Development (Asia)
380 Melbourne by Brady Property Group — Australia
Canterbury Golf Resort Apartments by Home Lands Skyline (Pvt) Ltd — Sri Lanka
Gold Residences by SM Development Corporation (SMDC) — Philippines
Ontolo by Great Eagle Holdings Limited — China-Hong Kong
Park Nova by Shun Tak Holdings — Singapore (REGIONAL WINNER)
Park Vera by Shui On Land — Mainland China
Senada Residences by Sime Darby Brunsfield Resort Sdn Bhd — Malaysia
Setsu Niseko by SC Global Developments Pte Ltd — Greater Niseko
SunteckWorld by Sunteck Realty Ltd — India
The Grand Hanoi by Masterise Homes — Vietnam
The Residences at Sindhorn Kempinski Hotel Bangkok by Siam Sindhorn Co., Ltd. — Thailand
The Suites at Gorordo by Worldwide Central Properties, Inc. — Philippines
Verde Two by Farpoint — Indonesia
Vue Aston by The Peninsula Capital Co., Ltd — Cambodia
Yunē by Beijing Heli Yunxing Real Estate Co., Ltd. — Mainland China
 
Best Housing Development (Asia)  
Bridge P.M. by Volume Projects — Australia
Canterbury Golf Villas by Home Lands Skyline (Pvt) Ltd — Sri Lanka
Chankiri Palm Creek by Urbanland — Cambodia
Dalian Huafa Hill by Zhuhai Huafa Properties Co., Ltd. 珠海华发实业股份有限公司 by 大连华发山庄 — Mainland China
Elmina Green 4 by Sime Darby Property (City of Elmina) Sdn. Bhd. — Malaysia
Istani Villas by Idea Development — Thailand
Mt. La Vie by Sino-Ocean Group — China-Hong Kong (REGIONAL WINNER)
Nim Collection by Bukit Sembawang Estates Limited — Singapore
Panorama Niseko by Marumi KK — Greater Niseko
Seafront Residences by AboitizLand, Inc. — Philippines
The Glen by Gamuda Land (HCMC) JSC. — Vietnam
The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty — Indonesia
 
Best Green Development (Asia) 
BSD City by Sinar Mas Land — Indonesia
Frasers Tower by Frasers Property Singapore — Singapore
Mandani Bay Suites by HTLand Inc. — Philippines
Pan Pacific Orchard by UOL Group Limited — Singapore (REGIONAL WINNER)
Yuexiu Financial Tower by Guangzhou Yuexiu Commercial Real Estate Investment & Management Co., Ltd — Mainland China
 
DESIGN AWARDS
 
Best Township Masterplan Design (Asia) 
Paramount Petals by Paramount Land — Indonesia (REGIONAL WINNER)
 
Best Mixed Use Architectural Design (Asia)
Alibaba Central China Headquarters and Industrial Complex 阿里巴巴华中总部暨产业社区基地 by Benoy — Mainland China
Commercial Development at Kiu Tau Wai, Yuen Long by Atelier Global — China-Hong Kong (REGIONAL WINNER)
Marc’s Boulevard by Triniti Land — Indonesia
Masteri Waterfront by Masterise Homes — Vietnam
OCT OH Bay 宝安欢乐港湾 by Laguarda.Low Architects — Mainland China
The Magnolia Residences by RLC Residences — Philippines
The Suites at Gorordo by Worldwide Central Properties, Inc. — Philippines
 
Best Hotel Architectural Design (Asia) 
Casa Marina Premium by BCG Land — Vietnam
Dharma Niseko (達磨 ニセコ)  by Parry (Group) Property Investment & Development Company Ltd — Greater Niseko
Pan Pacific Orchard by UOL Group Limited — Singapore (REGIONAL WINNER)
 
Best Office Architectural Design (Asia) 
CSC Center, Tian Jin, China 天津中建总部大楼 by HZS Design & China State Construction Land (Tianjin) HZS汇张思 & 中建地产(天津)— Mainland China
One Mandani Bay by HTLand Inc. — Philippines
SMI Tower by Simbiotik Multitalenta Indonesia — Indonesia (REGIONAL WINNER)
 
Best Retail Architectural Design (Asia) 
Bintaro Jaya Xchange by Lead8 — Indonesia
Central Market PIK by Agung Sedayu Group & Salim Group — Indonesia
Sanya CDF Mall II 三亚国际免税城二期 by Benoy — Mainland China (REGIONAL WINNER)
The Waterfront Community Mall by Blissful Capital Co., Ltd — Cambodia
 
Best Condo Architectural Design (Asia)
380 Melbourne by Brady Property Group — Australia
Aoyuan Luyu One, Chengdu 奥园 成都麓语ONE by HZS Design & China Aoyuan Group Limited HZS汇张思 & 中国奥园集团 — Mainland China
AraTre’ Residences @ Ara Damansara by Puncakdana Sdn. Bhd. — Malaysia
Be Residences Lahug by Benedict Ventures, Inc. — Philippines
Celes Asoke by Lucky Living Properties Co., Ltd. — Thailand
China Overseas One Sino Residence, Beijing 中海 北京甲叁号院 by HZS Design & China Overseas HZS汇张思 & 北京中海地产 — Mainland China
CIFI Group: Fu Yang Shuang Qing Jiang Lai 旭辉 阜阳双清江来 by HZS Design & CIFI Group HZS汇张思 & 旭辉集团 — Mainland China
COB: Stream View Palace 中海 长沙阅溪 by HZS Design & China Overseas Land & Investment HZS汇张思 & 中國海外發展 — Mainland China
Greentown The Willow Shores 舟山绿城长峙岛柳岸晓风 by Hangzhou 9M Architectural Design Co., Ltd.
杭州九米建筑设计有限公司 — Mainland China
Holme Ekkamai 22 by S A Future Property Company Limited — Thailand
Hopson: Miya 合生 me悦 by HZS Design & Beijing Heyishengjing Real Estate HZS汇张思 & 北京合亦盛景置业 — Mainland China
Jinke & Zhongliang Emerald Mansion 金科·中梁博翠江樾 by Changsha Zhongliang Heng Real Estate Co. Ltd 长沙中梁恒置业有限公司 — Mainland China
Klimt Cairnhill by Low Keng Huat (S) Limited — Singapore
Midtown Modern by GuocoLand with Hong Leong Holdings and Hong Realty (Private) — Singapore
Paul & Prive by Triniti Land — Indonesia
Promena by National Housing Organization, JSC. — Vietnam (REGIONAL WINNER)
Setsu Niseko by SC Global Developments Pte Ltd — Greater Niseko
The Filmore Da Nang by Filmore Development — Vietnam
Van Holland by Koh Brothers Development Pte Ltd — Singapore
Verdale by CSC Land Group (Singapore) Pte Ltd and Coli (Singapore) Pte Ltd — Singapore
Vue Aston by The Peninsula Capital Co., Ltd — Cambodia
 
Best Housing Architectural Design (Asia) 
Asongkhai by Ametus Development Co., Ltd. — Thailand
Canterbury Golf Villas by Home Lands Skyline (Pvt) Ltd — Sri Lanka
Central Park Ja-Ela by Kelsey Developments PLC — Sri Lanka
Chankiri Palm Creek by Urbanland  — Cambodia
Damara Village Ubud Alaya Collection by Greenwoods Group — Indonesia
Greentown Xixi Yunlu 杭州绿城西溪雲庐 by Hangzhou 9M Architectural Design Co., Ltd. 杭州九米建筑设计有限公司 — Mainland China (REGIONAL WINNER)
Istani Villas by Idea Development — Thailand
Mt. La Vie by Urbanprojects Architecture & Planning & Sino-Ocean Group — China – Hong Kong
Panorama Niseko by ISA Architects Inc. — Greater Niseko
The Glamor Ekkamai – Praditmanutham by Peace and Living Public Company Limited — Thailand
The Sanctuary Collection by Perennial Holdings, PT Cipta Harmoni Lestari & Qingjian Realty — Indonesia
 
Best Hotel Interior Design (Asia) 
Dharma Niseko (達磨 ニセコ) by Parry (Group) Property Investment & Development Company Ltd — Greater Niseko
Park Hyatt Phu Quoc Residences by BIM Land (a member of BIM Group) — Vietnam (REGIONAL WINNER)
Parkroyal Collection Marina Bay by UOL Group Limited and Singapore Land Group Limited — Singapore
Radisson Red by Cebu Landmasters, Inc. — Philippines
 
Best Condo Interior Design (Asia)   
Agile • Shanqin Bay, Hainan 雅居乐 • 海南山钦湾 by CLV.Design 赛拉维设计 — Mainland China
Bellevue Place @MT Haryono by Gapura Prima Group — Indonesia
Cairnhill 16 by TSKY Cairnhill Pte. Ltd. — Singapore
Celes Asoke by Lucky Living Properties Co., Ltd. — Thailand
Ki Residences by Hoi Hup Sunway Clementi Pte Ltd — Singapore
No. 6 Sydney St by V-Leader — Australia
Setsu Niseko by SC Global Developments Pte Ltd — Greater Niseko (REGIONAL WINNER)
The Grand Hanoi by Masterise Homes — Vietnam
The Hyde by Aurum Land — Singapore
The Velaris Residences by RHK Land Corporation — Philippines 
 
Best Housing Interior Design (Asia) 
Maison Blanche – Sukhumvit 67 by Baan Sasidara Co., Ltd. — Thailand (REGIONAL WINNER)
Mekong City by Mekong Land Development Co., Ltd — Cambodia
 
Best Landscape Architectural Design (Asia) 
Agile Mont Kiara by Agile Real Estate Development Sdn Bhd — Malaysia
Chankiri Palm Creek by Urbanland — Cambodia
Clavon by UOL Group Limited and Singapore Land Group Limited — Singapore
Gold Residences by SM Development Corporation (SMDC) — Philippines
Government Center: Sustainable Landscape Master Planning by Dhanarak Asset Development Co., Ltd. — Thailand
Grand Marina, Saigon by Masterise Homes — Vietnam (REGIONAL WINNER)
Harbin ShenHa Center 哈尔滨深哈中心 by Unlimited Metropolis Design Studio 里表都会 — Mainland China
Juniper Hill by Allgreen Properties Limited — Singapore
Midtown Modern by GuocoLand with Hong Leong Holdings and Hong Realty (Private) — Singapore
Normanton Park by Kingsford Group — Singapore
Oneder Kaset Condo by Eakphoomsub Development Company Limited — Thailand
Parc Central Residences by Hoi Hup Sunway Tampines JV Pte Ltd — Singapore
SunteckWorld by Sunteck Realty Ltd — India
The Peak by Phu My Hung Development Corporation — Vietnam
Toba Lake Villas at Asya by PT Astra Modern Land — Indonesia
Verde Two by Farpoint — Indonesia
Willow Brighton by Samuel Property — Australia
 
SPECIAL AWARD
 
Special Recognition for Contribution to the Built Environment
OCT OH Bay 宝安欢乐港湾 by Laguarda.Low Architects — Mainland China (REGIONAL WINNER)
 
PUBLISHER’S CHOICE
 
PropertyGuru Icon Award
Liam Wee Sin, Group Chief Executive, UOL Group Limited
 
–END–
 
NOTE: Use of the PropertyGuru Asia Property Awards Grand Final logo is limited to the publication of this article only.
 
PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino
Head of Brand & Marketing Services
M: +66 92 954 4154
E: [email protected]   

Sponsorships:
Kanittha Srithongsuk
Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: [email protected]      

Media & Partnerships:
Piyachanok Raungpaka (Pang)
Media Relations & Marketing Services Executive
M: +66 94 887 5163
E: [email protected]  

Sales & Nominations:

Udomluk Suwan
Sales Director
M: +66 87 699 4433
E: [email protected]

 
ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent. 
 
In 2021, the Awards series is open to 16 key property markets around the region. The exciting gala events are presented in a mix of virtual and physical formats, reaching senior industry leaders, agents, consumers and top media. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2021. 
 
For more information, please visit AsiaPropertyAwards.com
 
ABOUT PROPERTYGURU GROUP:
PropertyGuru Group is Southeast Asia’s leading property technology company and the preferred destination for 37 million property seekers to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 2.8 million real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.
 
PropertyGuru.com.sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets; award-winning mobile apps; a high-quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia.
 
 

PropertyGuru Announces Strong First Half 2021 Performance and Public Filing of Registration Statement as It Progresses Towards NYSE Listing

  • Southeast Asia’s #1 digital property marketplace with leading positions in Singapore, Vietnam, Malaysia and Thailand1
  • First half 2021 revenue increased by 17.9% to S$42.9 million compared to first half 2020, despite adverse COVID-19 impact on Southeast Asian markets
  • Registration statement on Form F-4 filed with the U.S. Securities and Exchange Commission in connection with its previously announced business combination with Bridgetown 2

Singapore and Hong Kong – December 7, 2021 – PropertyGuru Pte. Ltd. (“PropertyGuru” or “the Group”), Southeast Asia’s leading property technology (“PropTech”) company1 , today announced the Group’s financial results for the six months ended June 30, 2021. Despite its Priority Markets2 being adversely impacted by COVID-19, the Group delivered strong revenue growth and continued its leading Engagement Market Share positions.

In addition, in connection with the previously announced business combination between PropertyGuru and Bridgetown 2 Holdings Limited (NASDAQ: BTNB) (“Bridgetown 2”), a special purpose acquisition company formed by Pacific Century Group (“Pacific Century”) and Thiel Capital LLC (“Thiel Capital”), PropertyGuru Group Limited today publicly filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form F-4 (the “Registration Statement”). The Registration Statement is subject to SEC review.

Management Commentary

Hari V. Krishnan, Chief Executive Officer and Managing Director, PropertyGuru, said, “Our strong performance in the first half of 2021 demonstrates that our strategy to invest in our markets and teams and expand our products and services is working. Leveraging our integrated and differentiated technology platform, we are confident that we will emerge from the pandemic as the best solution to match property seekers and sellers across the region, which is estimated to become the world’s fourth largest economy in the world by 20303. We are beginning to solidify this position as more home seekers and investors turn to real estate to mitigate short-term economic uncertainties. We believe this, combined with the long-term fundamentals of urbanization, digitalization and a rising middle class fueled by a vibrant pool of increasingly affluent and digital property seekers, will continue to drive the expansion of Southeast Asia’s property market. We are only beginning to scratch the surface of our S$10.9 billion4 addressable market.

Today’s filing also reflects the significant progress that we have made in our business combination with Bridgetown 2. We look forward to completing that process in the first quarter of 2022 and accelerating our journey as a public company.”

Joe Dische, Chief Financial Officer, PropertyGuru, said, “Our strong revenue growth in the first half of 2021 represents our ability to effectively navigate an uneven path to recovery from the pandemic. Despite challenging market conditions in the third quarter this year, we are forecasting only a slight reduction in our full year 2021 revenue and no change in our full year Adjusted EBITDA against our previous projections. This is a result of our continued investments throughout the pandemic, including our strategic acquisitions to enhance our marketplace positions in Malaysia and Thailand and expand our data analytics capabilities.

Our resilient business model and ability to leverage technology and data, positions us well to capture the tremendous market opportunities that lie ahead. Our confidence is reflected in our long-term growth outlook beyond 2021, which remains strong.”

Matt Danzeisen, Chairman, Bridgetown 2, said, “Hari and his talented team have built a suite of digital property solutions that continues to stay ahead of the evolving needs of the region’s real estate market. Their innovative platform is reshaping the way millions of people across Southeast Asia think about property. We look forward to completing the transaction, which will provide PropertyGuru with greater financial resources to do what they do best.”

Financial Overview for the Six Months Ended June 30, 2021

Strong Group performance, despite adverse impact resulting from COVID-19 restrictions:

  • Total revenue increased by 17.9% compared to the six months ended June 30, 2020 to S$42.9 million, reflecting renewed demand for property.
    • Singapore: Revenue grew by 12.8% to S$25.4 million, with Average Revenue Per Agent (“ARPA”) of S$1,539 and a Singapore Agent subscription renewal rate of 83%, a 12% year-on-year increase.
    • Vietnam: Revenue increased by 29.5% to S$10.1 million, with revenue per listing increasing by 30% year-on-year to S$2.76.
    • Malaysia: Revenue increased 17.4% to S$4.2 million.
  • Adjusted EBITDA was a loss of S$4.8 million, reflecting increased investments in people and marketing as the Group seeks to emerge strongly from the pandemic period.
  • Net loss increased to S$150.6 million, primarily due to an accounting fair value loss of S$124.1 million on preference share conversion options, with the rise in valuation of the Group. The Group’s preference shares have since been converted to ordinary shares, therefore such fair value losses are not expected in future periods.

*     Corporate consists of HQ Costs, which are not allocated to the segments. HQ Costs are costs of PropertyGuru’s personnel that are based predominantly in its Singapore headquarters and certain key personnel in Malaysia and Thailand, and that service PropertyGuru’s group as a whole, consisting of its executive officers and its group marketing, technology, product, human resources, finance and operations teams, as well as platform IT costs (hosting, licensing, domain fees), workplace facilities costs, corporate public relations retainer costs and professional fees such as audit, legal and consultant fees.

Continued Category Leadership

For the six months ended June 30, 2021, PropertyGuru continued its Engagement Market Share leadership in Singapore, Vietnam, Malaysia and Thailand, while maintaining its position in Indonesia.1

  • Singapore: 81% – 5x the closest peer
  • Vietnam: 74% – 2.9x the closest peer
  • Malaysia: 95% – 22x the closest peer
  • Thailand: 61% – 2.7x the closest peer
  • Indonesia: 37% – 0.7x the closest peer

As of June 30, 2021, the Group’s platform connected more than 52 million property seekers monthly5 to more than 57,000 agents in its digital marketplaces of more than 3.3 million listings. Organic traffic represented 65%4 of overall traffic, demonstrating a compelling barrier to entry and good unit economics for the marketplace businesses.

Full Year 2021 Outlook

During the second half of 2021, the Group has been navigating Southeast Asia’s uneven recovery from the COVID-19 pandemic. In Vietnam and Malaysia, the strict lockdown orders have significantly reduced real estate activity. These challenges have been partially offset by stronger than expected recovery in Singapore where the COVID-19 situation has been more stable.

For its full year 2021 revenue and Adjusted EBITDA outlook, the Group has taken into account the strength of its business while recognizing the ongoing adverse impact of COVID-19 driven restrictions on its five markets. Accordingly, the Group has marginally reduced the full year 2021 revenue outlook to approximately S$97.5 million, which would represent an 18.8% increase over 2020. The Group’s full year Adjusted EBITDA expected loss remains unchanged at S$16.4 million. The Group’s outlook for 2022 through 2025 also remains unchanged, driven by improved expectations for Singapore, Malaysia and Other Asia (Thailand and Indonesia) and more moderate expectations for Vietnam and fintech and data services.

About PropertyGuru Group

PropertyGuru Group is Southeast Asia’s leading property technology company1, and the preferred destination for over 52 million property seekers4 to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 3.3 million real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg  was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets company; award-winning mobile apps; a high quality developer sales enablement platform, FastKey; mortgage marketplace PropertyGuru Finance; and a host of other property offerings including Awards, events and publications across Asia.

For more information, please visit:PropertyGuruGroup.com; PropertyGuru Group on LinkedIn.

About Bridgetown 2 Holdings

Bridgetown 2 Holdings Limited is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, with a focus on technology, financial services, or media sectors in Southeast Asia. The company is formed by Pacific Century Group and Thiel Capital, led by Chief Executive Officer and Chief Financial Officer, Daniel Wong, and Chairman Matt Danzeisen.

For more information, please visit https://www.bridgetownholdings.co/

1 In terms of Engagement Market Share based on SimilarWeb data between January 2021 and June 2021. “Priority Markets” means Singapore, Vietnam, Malaysia, Thailand and Indonesia.
2 “Priority Markets” means Singapore, Vietnam, Malaysia, Thailand and Indonesia.
3 According to the Singapore Business Review, ASEAN to become world’s fourth largest economy for 2030: Singapore PM Lee, August 2018.
4 According to Frost & Sullivan.5 Based on Google Analytics data between January 2021 and June 2021.

Contact Information:

For inquiries regarding PropertyGuru, please contact:

Media
PropertyGuru Group Media Relations
[email protected]

Sard Verbinnen & Co
Ron Low and Jay Qin – Asia
Liz Zale and Chloe Clifford – U.S.
[email protected]

Investor
PropertyGuru Group
Investor Relations
[email protected]

The Blueshirt Group
Chris Hollenbeck
[email protected]

For inquiries regarding Bridgetown 2 Holdings, please contact:

Pansy Poon
+852 6609 8565
[email protected]

Karin Wong
+852 9755 6265
[email protected]

Note:

References to “S$” are to Singapore dollars.

Forward-Looking Statements

This document includes “forward-looking statements” within the meaning of the federal securities laws with respect to the proposed transaction between PropertyGuru, PropertyGuru Group Limited (“PubCo”) and Bridgetown 2, and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this document, including, but not limited to, statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of PropertyGuru, market size and growth opportunities, competitive position, technological and market trends and the potential benefits and expectations related to the terms and timing of the proposed transactions, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words.

All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of Bridgetown 2 and PropertyGuru, which are all subject to change due to various factors including, without limitation, changes in general economic conditions as a result of COVID-19. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this document, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this document are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the timing and structure of the business combination; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the inability of the parties to successfully or timely consummate the business combination, the PIPE investment and other transactions in connection therewith, including as a result of the COVID-19 pandemic or the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the shareholders of Bridgetown 2 or PropertyGuru is not obtained; the risk that the business combination disrupts current plans and operations of Bridgetown 2 or PropertyGuru as a result of the announcement and consummation of the business combination; the ability of PropertyGuru to grow and manage growth profitably and retain its key employees including its chief executive officer and executive team; the inability to obtain or maintain the listing of the post-acquisition company’s securities on the NYSE following the business combination; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to PropertyGuru; the amount of redemption requests made by Bridgetown 2’s shareholders and the amount of funds available in the Bridgetown 2 trust account; PropertyGuru’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industry in which PropertyGuru and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; the Group’s ability to implement its growth strategies and manage its growth; customers of the Group continuing to make valuable contributions to its platform, the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to produce accurate forecasts of its operating and financial results; the Group’s ability to attract traffic to its websites; the Group’s ability to assess property values accurately; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) of the countries in which the Group operates, general economic conditions in the countries in which the Group operates, the Group’s ability to attract and retain management and skilled employees, the impact of the COVID-19 pandemic on the business of the Group, the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers, disruptions to information technology systems and networks,
the Group’s ability to grow and protect its brand and the Group’s reputation, the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required subsequent to, or in connection with, the consummation of the Business Combination and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of PubCo’s registration statement on Form F-4, the proxy statement/consent solicitation statement/prospectus discussed below, Bridgetown 2’s Quarterly Report on Form 10-Q and other documents filed by PubCo or Bridgetown 2 from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that neither Bridgetown 2 nor PropertyGuru presently know, or that Bridgetown 2 or PropertyGuru currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements reflect Bridgetown 2’s and PropertyGuru’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or Bridgetown 2’s or PropertyGuru’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

Forward-looking statements speak only as of the date they are made. Bridgetown 2 and PropertyGuru anticipate that subsequent events and developments may cause their assessments to change. However, while PubCo, Bridgetown 2 and PropertyGuru may elect to update these forward-looking statements at some point in the future, PubCo, Bridgetown 2 and PropertyGuru specifically disclaim any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by PropertyGuru or Bridgetown 2 or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing Bridgetown 2’s or PropertyGuru’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of PropertyGuru and Bridgetown 2 contained herein are not, and do not purport to be, appraisals of the securities, assets or business of the PropertyGuru, Bridgetown 2 or any other entity.

Industry and Market Data

This document contains information, estimates and other statistical data derived from third party sources and/or industry or general publications. Such information involves a number of assumptions and limitations, and you are cautioned not to place undue weight on such estimates. PropertyGuru, PubCo and Bridgetown 2 have not independently verified such third-party information, and make no representation as to the accuracy of such third-party information.

About Key Performance Metrics and Non-IFRS Financial Measures

Engagement Market Share is the average monthly engagement for websites owned by PropertyGuru as compared to average monthly engagement for a basket of peers calculated over the relevant period. Engagement is calculated as the number of visits to a website during a period multiplied by the total amount of time spent on that website for the same period, in each case based on data from SimilarWeb.

Number of agents in all Priority Markets except Vietnam is calculated for a period as the sum of the number of agents with a valid 12-month subscription package at the end of each month in a period divided by the number of months in such period. In Vietnam, number of agents is calculated as the number of agents who credit money into their account within the relevant period. When counting in aggregate across the PropertyGuru group, in markets where PropertyGuru operates more than one property portal, an agent with subscriptions to more than one portal is only counted once.

Number of real estate listings is calculated as the number of listings created during the month for Vietnam and total listings at the end of the previous month for other markets.

This document also includes references to non-IFRS financial measures, namely Adjusted EBITDA and Adjusted EBITDA Margin. PropertyGuru uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. PropertyGuru believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS or GAAP results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as net loss and loss before income tax.

Adjusted EBITDA is a non-IFRS financial measure defined as net loss for year/period plus changes in fair value of preferred shares and embedded derivatives, finance cost, depreciation and amortization, income tax expense, impairments when the impairment is the result of an isolated, non-recurring event, share grant and option expenses, loss on disposal of plant and equipment and intangible assets, currency translation loss, fair value loss on contingent consideration, business acquisition transaction and integration cost and cost of proposed listing. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. The table below reconciles Adjusted EBITDA and Adjusted EBITDA Margin to the most directly comparable financial measure stated in accordance with IFRS.

Important Information About the Proposed Transactions and Where to Find It

This document relates to a proposed transaction between PropertyGuru and Bridgetown 2. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The proposed transactions will be submitted to shareholders of Bridgetown 2 for their consideration.

In connection with the business combination, PubCo has filed a registration statement on Form F-4 (the “Registration Statement”) with the SEC that includes a preliminary proxy statement of Bridgetown 2 to be distributed to Bridgetown 2’s shareholders in connection with Bridgetown 2’s solicitation for proxies for the vote by Bridgetown 2’s shareholders in connection with the proposed transactions and other matters as described in the Registration Statement, as well as the preliminary prospectus relating to the offer of the securities to be issued to PropertyGuru’s shareholders in connection with the completion of the proposed business combination. Bridgetown 2 and PubCo also will file other documents regarding the proposed transaction with the SEC.

After the Registration Statement is declared effective, Bridgetown 2 will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed transactions. This communication is not a substitute for the Registration Statement, the definitive proxy statement/prospectus or any other document that Bridgetown 2 will send to its shareholders in connection with the business combination. Bridgetown 2’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, in connection with Bridgetown 2’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed transactions, because these documents will contain important information about Bridgetown 2, PubCo, PropertyGuru and the proposed transactions. Shareholders and investors may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed transactions and other documents filed with the SEC by Bridgetown 2, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Bridgetown 2. The information contained on, or that may be accessed through, the websites referenced in this document is not incorporated by reference into, and is not a part of, this document.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

Bridgetown 2, PubCo and PropertyGuru and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Bridgetown 2’s shareholders in connection with the proposed transactions. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Bridgetown 2’s shareholders in connection with the proposed transactions will be set forth in PubCo’s proxy statement/prospectus when it is filed with the SEC. You can find more information about Bridgetown 2’s directors and executive officers in Bridgetown 2’s final prospectus filed with the SEC on January 27, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This document is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the proposed transactions or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

“Your Home Isn’t the Most Expensive Thing You Own. Your Mortgage Is.” PropertyGuru Finance Dishes Out Brutally Honest Advice to Singaporeans

The new movement aims to rally Singaporeans to seek and share smart, honest advice openly to help make better decisions for life’s situations  
 
Singapore, 30 November 2021 – PropertyGuru, Singapore’s No.1 property marketplace with 75% market share**, today revealed that its mortgage marketplace, PropertyGuru Finance, is behind the mysterious “#SmartHonestAdvice” movement that caught the attention of Singaporeans over the weekend. 
 
The #SmartHonestAdvice movement saw a fleet of vans featuring eye-catching candid advice on general topics in life, including home financing, at more than 50 island-wide locations in Singapore with high commuter traffic. This quickly gained traction on social media, with netizens posting vans images with the hashtag #SmartHonestAdvice.