IQI Global-Juwai.com merger creates Asia’s biggest prop-tech group

PETALING JAYA, July 25 (Bernama) -- IQI Global, a top real estate network in Southeast Asia and the Middle East, is merging with Juwai.com, China’s leading website for buyers of overseas property, to create Asia’s biggest property technology (prop-tech) group, Juwai-IQI, specialising in global new development properties.

IQI Global chief executive officer Kashif Ansari said the new group would operate under two separate brands -- Juwai.com for online advertising and media services and IQI Global for project marketing, sales of property developments and secondary market properties.

Claiming to be the first company in the world with the ability to offer end-to-end solution, Juwai-IQI creates buyer interest in a development project by promotion to millions of consumers online and will complete the transactions with its expert in-house sales agents. 

“The merger is timely, as based on our data, there will be growing foreigner’s demand for property in Asia Pacific, including Malaysia, going forward,” he told reporters after announcing the merger here today.

He said the combined group completes an average of 1,000 sales per month, deploys an exclusive and growing network of 5,000 salespeople, and possesses a very large database of consumers in China, India, the Middle East, and North Africa (MENA) region, and Southeast Asia.

Meanwhile, Juwai.com executive chairman Georg Chmiel said the merger, which is expected to be completed in early August this year, aimed to expand its reach further through organic growth and new partnerships in addition to the existing relationships.

“We are combining two powerful Asian superbrands...We expect the combined group to be not only the largest global marketplace for real estate buyers from Asia, but also the most trusted.

“Now, our clients including agents and developers will not only get exposure to China’s property market, but will also get access to Asian project marketing business,” he said.

Chmiel said Juwai.com currently reaches 3.3 million monthly users with its 2.8 million listings from 91 countries. 

-- BERNAMA