SINGAPORE - Billionaire investor Peter Lim has picked up a 20 per cent stake for an undisclosed amount in TheEdgeProperty.com, which is set to make its debut in the crowded real estate portal scene in Singapore this July.
This is the first foray into the technology sector for Mr Lim whose other investments include stakes in Thompson Hospital, fashion firm FJ Benjamin, McLaren Automotive and more famously the Valencia football club.
He called this a "unique internet technology" designed to help existing shareholders strengthen their business. "Growth prospects are good because it's very scalable and revenue generation is immediate," Mr Lim was quoted as saying in a release issued by the portal on Thursday.
TheEdgeProperty.com is part of Tong Kooi Ong's The Edge Media Group which publishes The Edge Singapore, The Edge Malaysia, The Edge Review, The Edge Financial Daily and theedgemarkets.com. It was officially launched in home ground Malaysia on May 7, 2015.
TheEdgeProperty said its portal will include analytical tools like valuations, past transactions, rental rates, trends, hotspots and new project launches for industry players and users. It will also offer mortgages within the platform for people interested in buying or selling property, the release said.
Singapore has a number of portals dedicated to buying and selling property, including STProperty.sg, Propertyguru.com.sg, iProperty.com.sg, srx.com.sg and Sisvrealink.com among others.