A heavyweight in real estate
- 99 Group, the Singapore-based digital property media group that runs 500-backed 99.co, closed a positive year in 2020 despite the pandemic and economic uncertainty.
- The group credited this achievement to its teams’ efforts in Singapore and Indonesia in adapting to the changing times.
- Some of the new features rolled out this year to help consumers property-hunt safely were virtual tours and online property shows, which became the largest ever online property bazaars in Singapore and Indonesia.
- Group sales — which includes subscriptions, packages like must-see listings, and partnerships with media and developers — jumped 66% year-on-year, while net cash flow surged 77%.
- Reflecting high consumer interest in property, the group marked 250 million site visits and 19.8 million monthly active users from Indonesia — a number doubled from the previous year.
- More than nine in 10 users are sourced through organic traffic in Singapore, a nearly 40% increase.
- In 2020, the group expanded its brand by adding rumah123.com in Indonesia, as well as iproperty.com.sg and SRX in Singapore to its portfolio.
- 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.”
- In 2021, 99 Group expects to continue on this growth trajectory, powered by continual tech innovation.
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