99 Group The Latest Asian Portal Operator to Reveal Traffic Figures

January 22, 2021
Share this Post: 

The Southeast Asian property portal operator 99 Group has announced what it is calling "a stellar year" with gains in traffic and cash flow as well as the successful integration of new brands. A blog entry on the company's website claims that cashflow increased 77% in 2020 thanks to some "prudent and strategic spending" and that group sales were up 66% year-on-year.

99 Group Chief Executive Darius Cheung said: “We are proud of a stellar year, especially in retaining our status as the fastest growing property platform in Southeast Asia, growing at least twice as fast as our nearest competitor in Singapore and dominating the market by a mile in Indonesia compared to anyone else.”

Figures released by the Singapore-headquartered group include a 101% increase in traffic in Indonesia and a 36% increase in the percentage of traffic coming from organic sources to the company's Singapore assets. The REA Group-backed company acquired the Singaporean property marketplace and data specialist SRX back in November and before that entered a joint venture with REA Group which saw Cheung's management team take on operations at iProperty Singapore and Rumah123 in Indonesia.

Today's announcement by 99 Group follows hot on the heels of two similar announcements from Southeast Asian portal groups. Monday saw PropertyGuru showing off its traffic figures in Malaysia and yesterday we saw what seemed like a direct reply from 99 Group sister company iProperty Malaysia. With Google's influential report on the 'e-conomy' of the region claiming that the COVID-19 pandemic drove as many as 1 in 3 digital service consumers online over the past year, the opportunity for these companies and the competition between them is set to grow further throughout 2021.

January 22, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 120120670
Zillow and CoStar Share Prices Shift on News of NAR Shock Settlement

The trajectories of real estate portals in the United States may be about to diverge as the National Association of...

Read More
Shutterstock 1454624438
U.S. Portal Operator OJO Labs Acquires The LEAD Syndicate

The U.S. PropTech operator OJO Labs has announced that it has acquired The LEAD Syndicate, a provider of teach solutions...

Read More
Onthemarket Employees
OnTheMarket PR Push Continues with Agent Signups and Roadshow

The UK's number three portal OnTheMarket (OTM) is definitely ramping up its PR in the early months of 2024 with...

Read More
Product Roundup 13March24
Product Roundup: FangDD, Yandex, Redfin, Realtor.com, Keyper, OneDome and MagicBricks

Another week, another big product roundup for portals and proptechs worldwide. Here's what we've spotted...   FangDD shares soar 80%...

Read More

Editor's Pick