Bangladesh’s largest real estate solutions provider, Bproperty, has announced a merger with Australian-based Digital Classifieds Group (DCG). This deal will provide Bproperty with even more resources to enhance its services and expand its reach, while also allowing DCG to substantially grow its footprint in frontier markets.
DCG has been operating in frontier markets since 2009, building dominant property classifieds in Cambodia, Papua New Guinea, Laos, and Fiji. The company has also invested in a joint venture with the Thailand-based prop-tech, the FazWaz Group. In recent years, DCG has transitioned its business model from advertising to transactional services in order to accelerate its growth. With this merger, DCG’s global workforce will grow to over 550 and revenue will increase by over 100%. The deal was completed despite the global macroeconomic challenges in the tech and property sectors.
Bproperty, on the other hand, is a property pioneer and is Bangladesh’s largest transacting real estate company. It creates a secure property marketplace where sellers, buyers, landlords, and tenants can safely engage in a streamlined and transparent process to achieve their goals. The company utilizes technology to drive solutions and has an unmatched online and offline presence with an incomparable database of information. Their website houses hundreds of thousands of property listings, with immense detailing, videos, and floor plans, providing viewers with a clear picture of what they are potentially getting before ever leaving their seats.
To provide the smoothest transactions, Bproperty has in-house teams for supporting services, including legal, financial, and interior services, ensuring matters are taken care of in a timely fashion. The company has quickly become the go-to name for real estate ventures with over 4 million website and mobile application visitors annually.
As per the terms of the deal, Mark Nosworthy, CEO of Bproperty, will also join the Board of DCG. With the addition of the dynamic Bangladeshi market, DCG enters its single biggest frontier market to date, increasing its market reach threefold. The group will now serve approximately 200 million people across five countries and will look to consolidate its position as the leading operator of property classifieds in Asian frontier markets.
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