Digital Classifieds Group (DCG), a leading portfolio of Southeast Asia and the Pacific's property portals, is in a joint venture with MCS Group, a Mongolian development corporation, to create a property portal with an investment of $1 million.
Both companies will contribute capital and technology in the setting up of Tanyger.mn, the fourth online real estate listings platform from DCG.
The Mongolian expansion follows a $1.8-million investment round into DCG led by Mekong-based private equity firm Belt Road Capital Management (BRCM) last year.
“The majority of value in online classifieds flows to the market leader in a given vertical. For this reason, DCG is very focused on markets that we believe we can win and then dominate as the clear leader,” said Mathew Care, CEO, Digital Classifieds Group.
He said, 2019 will see DCG launch into two new markets. The second market will be announced shortly.
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