While no financial terms have been disclosed by either party, the investment gives PropertyGuru two seats on the Board of Directors - according to a company statement - making PropertyGuru one of the key shareholders of Batdongsan.
PropertyGuru is a Singapore-based property group founded in 2006. It holds a presence in nine markets, managing portals across Asia in addition to covering property-related publications, events, awards and marketing solutions.
The investment advances PropertyGuru’s delivery on its Southeast Asia growth agenda and adds another core market to its existing portfolio of property sites in the region.
Batdongsan is a portal visited by over 2 million people in Vietnam and features over 1.9 million property listings for consumers as of 2015.
Jani Rautianien, executive director and co-founder of PropertyGuru, said the portal was looking to expand its business and saw the opportunity to invest in Batdongsan as a favourable one, considering the portals' previous relationship with one another.
"Our property portals have become the No.1 choice in Singapore, Malaysia, Thailand and Indonesia and so we've been looking to add the fifth market to our portals portfolio for the past couple of months," Rautianien said.
“Given our existing relationship with Batdongsan and Vietnam's list of positives, choosing to deepen our current partnership with Batdongsan and add Vietnam as our fifth core market was an obvious choice.
“We're excited about this investment in Batdongsan as it increases our foothold in one of the largest and fastest growing countries in Southeast Asia."