{"id":111211,"date":"2019-09-30T10:21:30","date_gmt":"2019-09-30T03:21:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-suisse-valued-propertyguru-at-up-to-1-13b\/"},"modified":"2019-09-30T11:02:47","modified_gmt":"2019-09-30T04:02:47","slug":"credit-suisse-valued-propertyguru-at-up-to-1-13b","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-suisse-valued-propertyguru-at-up-to-1-13b\/","title":{"rendered":"Credit Suisse valued PropertyGuru at up to $1.13b"},"content":{"rendered":"


\nCredit Suisse said the company managed to continue growing despite property cooling measures in its biggest market, Singapore.
\nCredit Suisse has described real estate portal PropertyGuru as the next unicorn on the Australian Securities Exchange (ASX) as it values the Singapore-based company at $1.02 to $1.13 billion.
\nThe figure is 9.7-times to 10.8-times of the 2020 forecast revenue.
\nPropertyGuru, which is looking at an Australian IPO, is an online real estate classifieds business that operates in Singapore, Malaysia, Vietnam, Indonesia and Thailand, reported the Australian Financial Review.
\nThree quarters of the company\u2019s revenue come from real estate agents through subscription and listing fees, while the other quarter from property developers who are paying to use the sales and marketing products of PropertyGuru. Its long-term target is to get into mortgage finance.
\nFund managers were told by Credit Suisse to think about a $3.4 billion addressable market across the five geographies of PropertyGuru, while considering that only a fraction of that is expected to hit the online company\u2019s top line in the coming year.
\nFor 2020, PropertyGuru is only expecting $105 million in revenue and $11.7 million in EBITDA, up from this year\u2019s forecast of $85.6 million and $6.4 million, respectively. The company is not due to be profitable within the forecast period.
\nAnd while all of PropertyGuru\u2019s businesses are offshore, the pre-IPO reports have plenty of Australian references \u2013 explaining why it seeks to list on the ASX.
\nOnline property advertising penetration, for instance, was only four percent to 36 percent across PropertyGuru\u2019s five main markets, but stood at 79 percent in Australia. Online ad spend was just 0.8 percent of an agent\u2019s commission, while 15.1 percent in Australia.
\nCredit Suisse \u2013 which along with UBS are the lead managers to PropertyGuru\u2019s proposed IPO \u2013 also told fund managers that the company managed to continue growing despite property cooling measures in its biggest market, Singapore. While analysts believe that the subdued conditions in Singapore will continue until next year, a rebound in residential conditions is expected in 2021.
\nNeed help with your home buying\/selling\/renting process? Our\u00a0handy guides\u00a0will help.\u00a0Or find your dream home\u00a0on PropertyGuru.\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Credit Suisse valued PropertyGuru at up to .13b<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Suisse said the company managed to continue growing despite property cooling measures in its...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-111211","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sVJ","jetpack-related-posts":[{"id":22907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-face-record-debt-maturities\/","url_meta":{"origin":111211,"position":0},"title":"Singapore developers face record debt maturities","date":"August 15, 2016","format":false,"excerpt":"\r Developers here are facing record debt maturities, just as home sales posted their longest-ever losing streak. Property firms in Singapore are facing record debt maturities \u2013 $1.8 billion of local currency bonds this quarter, $1.2 billion in the fourth quarter and another $3.7 billion next year \u2013 just as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27891,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty\/","url_meta":{"origin":111211,"position":1},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"September 30, 2016","format":false,"excerpt":"\r Indonesian property holdings in Singapore have seen lower than expected\u00a0liquidation since the introduction of the TAS. The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43913,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-firms-among-uels-shortlisted-bidders\/","url_meta":{"origin":111211,"position":2},"title":"Singapore firms among UEL\u2019s shortlisted bidders","date":"February 13, 2017","format":false,"excerpt":"\r UEL\u2019s large portfolio of properties includes shopping centres, hotels and condominiums. (Photo: Wikimedia Commons) The major stakeholders of United Engineers Ltd (UEL) have narrowed down their list of potential bidders to five companies, including Ascendas-Singbridge and Perennial Real Estate Holdings, reported Bloomberg, citing sources privy to the matter. American\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99752,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-names-first-female-singapore-real-estate-personality-of-the-year\/","url_meta":{"origin":111211,"position":3},"title":"PropertyGuru names first female Singapore Real Estate Personality of the Year","date":"October 13, 2018","format":false,"excerpt":"\r SingHaiyi Group managing director Celine Tang claims the honour in 2018. By Property Report A relative newcomer in Singapore\u2019s dynamic real estate scene, Celine Tang was chosen by PropertyGuru Property Report magazine to receive the award for the 2018 Singapore Real Estate Personality of the Year. Tang,\u00a0the\u00a0group managing director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22682,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-ntuc-to-help-estate-agents-amid-tough-environment\/","url_meta":{"origin":111211,"position":4},"title":"PropertyGuru, NTUC to help estate agents amid tough environment","date":"August 12, 2016","format":false,"excerpt":"\r Lewis Ng, MD of PropertyGuru Singapore, addressing the crowd at the ninth Agent Summit. (Photo: PropertyGuru) In a bid to equip real estate agents in Singapore with new skills to tackle dwindling property sales amid tough market conditions, PropertyGuru partnered with NTUC U Associate for its ninth Agent Summit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108831,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-appoints-new-country-manager-for-singapore\/","url_meta":{"origin":111211,"position":5},"title":"PropertyGuru appoints new country manager for Singapore","date":"July 9, 2019","format":false,"excerpt":"\r Asia\u2019s leading property technology firm, PropertyGuru Group has appointed property industry veteran Dr Tan Tee Khoon as the new Country Manager for Singapore. With three decades of experience in Singapore\u2019s property industry, Dr Tan has held leadership positions across both private and public sectors. He recently served as Knight\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/07\/Tee-Khoon-PropertyGuru.jpeg?fit=500%2C749&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/111211"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=111211"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/111211\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=111211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=111211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=111211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}