SINGAPORE–(COMMERCIAL THREAD) – PropertyGuru Group (âPropertyGuruâ or âthe Groupâ), the leading property technology company (âPropTechâ) in South East Asia1, announced today that REA Group Ltd (ASX: REA) (âREAâ) CEO Owen Wilson has joined its board of directors as a non-independent director.
Mr. Wilson’s appointment follows REA’s acquisition of an 18% stake in PropertyGuru, which it received as part of the Group’s acquisition of REA’s entities in Malaysia and Thailand, which was completed on August 3, 2021. REA plans to further expand its strategic investment in PropertyGuru through participation in the Group’s business combination with Bridgetown 2 Holdings Limited (NASDAQ: BTNB) (âBridgetown 2â), a company of special purpose acquisition formed by Pacific Century Group and Thiel Capital LLC. REA will participate in the private placement of approximately US $ 132 million (âPIPEâ) of common shares of the combined company, making a capital investment of US $ 32 million and renew its existing stake in PropertyGuru in the combined company .
Mr. Wilson brings over three decades of real estate, information technology, recruiting and finance industry experience to Australia, Asia and the UK, where he has driven digital transformations. to help companies adapt to new operating environments. As CEO of REA Group, Mr. Wilson’s leadership has been instrumental in building high performing teams delivering customer solutions and personalized consumer experiences to change the way the world experiences property.
Mr. Wilson’s appointment further strengthens the Board of PropertyGuru as the Group prepares to accelerate its growth strategy by becoming a public company listed on the New York Stock Exchange (âNYSEâ). Her appointment follows the recent addition of Rachna Bhasin, a global technology leader and proven entrepreneur, as an independent director.
Hari V. Krishnan, CEO and Managing Director, PropertyGuru Group, said: âOver the past fourteen years, PropertyGuru has helped build the PropTech industry in Southeast Asia and is focused on leveraging our technology and data to help people take confident real estate decisions in an efficient and transparent manner. We welcome REA as a strategic partner as we move the Group forward into its next phase of growth. Owen is an accomplished global business leader who shares our vision and we are delighted to welcome him to our Board of Directors. I enjoyed my discussions with him and hope the Group will benefit from his vast experience.
Owen Wilson, President and CEO, Groupe REA, said, âIn the competitive Southeast Asia PropTech market, PropertyGuru is distinguished as a leader and driver of transformation. Hari and her team simplify the way buyers, sellers, agents and property developers interact using technology and data-driven insights. I am delighted to join the Board of Directors of PropertyGuru as the group continues to spearhead the transformation of the region’s real estate market. ”
With the appointment of Mr. Owen, the Board of Directors of PropertyGuru expands to nine directors:
Olivier Lim, Independent Non-Executive Director, Chairman
Hari V Krishnan (CEO and Managing Director, PropertyGuru), Executive Director
Jenny Macdonald, independent non-executive director, chair of the audit and risk committee
Melanie Wilson, Independent non-executive director, Chairman of the Remuneration and Nomination Remuneration Committee
Rachna Bhasin, independent non-executive director
Steve Melhuish (co-founder, PropertyGuru), non-executive director
Dominic Picone, non-executive director
Ashish Shastry, Non-Executive Director
Owen Wilson, Non-Executive Director
About Owen Wilson
Mr. Wilson has been CEO of REA Group since 2018. Prior to that, Mr. Wilson was CFO of the company for four years and handled all aspects of the REA Group financial portfolio including strategy, mergers and acquisitions and operations, as well as Financial Services Companies.
Mr. Wilson joined the REA Group after serving as Chief Financial Officer and Corporate Secretary of Chandler MacLeod Group Ltd. He previously held positions at ANZ and KPMG in Australia, Asia and the UK. Mr. Wilson holds a Bachelor of Commerce degree in Accounting and Computer Science from Deakin University.
About the PropertyGuru group
PropertyGuru Group is Southeast Asia’s Leading Real Estate Technology Company1, and the preferred destination for over 50 million home searchers to find their dream home, every month. PropertyGuru and its group companies provide property seekers with over 2.8 million real estate listings, in-depth information and solutions that empower them to make confident real estate decisions in Singapore, Malaysia, Thailand, Indonesia and Vietnam.
PropertyGuru.com.sg was launched in 2007 and has helped boost Singapore’s online real estate market and made property search transparent for the property seeker. Over the decade, the Group has become a high growth technology company with a solid portfolio of leading real estate portals in all of its main markets; award-winning mobile applications; a high-quality sales support platform for developers, Quick key; mortgage market PropertyGuru Finance; and a host of other real estate offers including Awards, events and publications across Asia.
1 In terms of relative engagement market share based on SimilarWeb data.