The Mitula Group Limited (ASX:MUA), a leading digital classifieds group, has acquired Singapore-based DotProperty Pte Ltd to provide the company with property portals in some of its Tier 2 Southeast Asian markets and therefore to significantly enhance the monetisation of visits in these markets.
Dot Property operates 10 property portals across nine Southeast Asian countries. Dot Property’s Head Office and main portals are located in Thailand however, it also operates sites in the Philippines, Vietnam, Indonesia, Cambodia, Laos, Myanmar, Singapore and Malaysia.
Directors and Senior Management of the Mitula Group have significant experience in successfully operating property portals in both established and emerging markets.
Simon Baker, the Chairman of the Mitula Group, is the former CEO and Managing Director of the REA Group, as well as the former Chairman of the iProperty Group.
Sol Wise, a Director of the Mitula Group, is the former Financial Controller of the REA Group, while Gonzalo del Pozo and Gonzalo Ortiz, respectively CEO and Director of the Mitula Group, founded the Spanish property portal Globaliza.
Gonzalo del Pozo, CEO of the Mitula Group, commented: “We are very excited with the acquisition of Dot Property. The acquisition immediately provides us with property portals in select Tier 2 markets and a channel by which we can enhance the monetisation of our Southeast Asian visitors.
“We are also excited to welcome Ben Neve and his team to the Mitula Group. They bring significant in-market experience and on the ground skills to help us serve local real estate agents and developers across the Southeast Asian region.”
Ben Neve, CEO of Dot Property, commented: “Joining the Mitula Group will help rapidly accelerate our growth. Our portals will have better access to the Mitula Group sites and this will help us to provide real estate agents and developers with high quality leads.”
Dot Property will operate as a separate division within the Mitula Group with Ben Neve taking on the role as General Manager of Southeast Asian Property Portal Operations, reporting to the CEO of the Mitula Group.
