
Mumbai, India: Aurum PropTech Limited ("Aurum"), India's leading PropTech company, and REA Group Ltd ("REA Group") today announced a strategic transaction under which Housing.com ("Housing") will join the Aurum PropTech ecosystem. The combination brings together Housing, India's leading real estate marketplace, and Aurum, the largest tech-enabled PropTech ecosystem. This transaction unites marketplace and transactions into one integrated platform, spanning property discovery, brokerage, rentals, transactions and AI-powered data intelligence.
Aurum PropTech has entered into a binding Share Acquisition Agreement with REA India Pte Ltd ("REA India"), in which REA Group holds a controlling interest, to acquire 100% of Housing.com in an all-equity transaction, through the issuance of 1,97,93,309 equity shares (representing approximately 20.5% of the enlarged share capital). Following the transaction, REA India's total shareholding in Aurum PropTech will increase to 24.9%.
Mr. Ashish Deora, Founder & CEO, Aurum Ventures, said:
"We welcome REA as a significant shareholder in Aurum PropTech as we build the next chapter of Indian PropTech, powered by AI and data.
Housing is India's leading real estate marketplace, and Aurum is the largest tech-enabled transactions platform. Bringing marketplace and transactions together on one platform will create compounding synergies that will drive the next phase of value creation. The real power lies in the data flywheel: as Housing and Aurum platforms work together, every intent, intelligence, transaction, financing and living makes the whole ecosystem smarter, setting a new benchmark for how real estate is discovered, transacted, and serviced in India."
Mr. Cameron McIntyre, REA Group CEO, said:
"Aurum has strong capability and local market knowledge to operate the India business effectively. We are confident it will be in the right hands and is well placed to build on the strong foundations the team has established. To the REA India team, thank you for the significant contribution you have made. We are committed to supporting everyone through this process and look forward to future growth and partnership under Aurum's leadership."
Aurum PropTech Limited is a company listed on BSE Limited (Scrip code: 539289) and National Stock Exchange of India Limited (Scrip code: AURUM). It aims to bring transparency, trust and digital transformation in the real estate sector through its Integrated PropTech Ecosystem.
Aurum Ventures is a new-age Real Estate Group with end-to-end capabilities from Acquisition, Design, Execution, Project Management, Property Management, Sales, Leasing and Hospitality. It is bringing digital transformation to the real estate sector through its PropTech Ecosystem.
Certain statements in this media release concerning our future growth prospects are forward-looking statements, which involve several risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.