Real Estate Analytics acquires SoReal Prop

• Singapore based Proptech firm SoReal Prop, backed by top real estate brokers including ERA, Huttons and PropNex the global real estate service company Savills have successfully agreed terms for the acquisition of SoReal Prop in a cash and equity deal

• SoReal Prop was set up for the industry, by the industry, with the aim to democratise the use of real estate data in Singapore and to improve the access to digital innovation that strengthens estate agents’ professionalism by providing value added services

• SoReal Prop celebrates this acquisition and new partnership which comes after an intense two year recovery and growth programme, led by Singapore based Management and Technology consultancy LanciaConsult

• The acquisition of SoReal Prop by Real Estate Analytics will form a strong partnership with the largest real estate brokers in Singapore, continuing to benefit the Singapore Real Estate industry and accelerating SoReal Prop’s vision to become the premier data service provider to the sector

SINGAPORE 8AM SGT 12 MAY 2022: SoReal Prop, backed by their majority shareholders ERA, Huttons, PropNex and Savills, has been acquired by Real Estate Analytics in a cash and equity deal. All four will become shareholders in Real Estate Analytics and will continue their industry collaboration and evolution of real estate data analytics that started with SoReal Prop in 2017.

SoReal Prop and its shareholders were advised by Chris Marriott, Savills CEO, Southeast Asia and Singapore based global management and technology consulting firm LanciaConsult; led by CEO Jeffrey Cronkshaw, CFO Nic Norman-Smith, and Principal Consultant Samuel Taylor.

“We are excited about the acquisition, which is a recognition of the market leadership and potential of SoReal Prop. As Singapore’s largest international real estate agency, we strongly believe in the importance of constant technology advancement. With Real Estate Analytics’ global network and strong capabilities in real estate tech innovations, it will create a stronger value proposition and empower all real estate agents’ and consumers’ intelligence alike in this data-driven world,” said Marcus Chu, CEO of APAC Realty and ERA Asia Pacific. 

“The real estate market dynamics has been evolving fast with different technologies. With this collaboration, we bring the right industry stakeholders together to redefine the future of data analytics and empower salespersons to serve clients better. Huttons will continue to focus on strategic initiatives that enable us to ride on the digital trend and stay ahead of the curve in business sustainability,” said Mark Yip, CEO of Huttons.

“SoReal has grown over the years in value - adding to our salespersons, property portals and the industry with the democratisation of data. We are excited for Real Estate Analytics to accelerate as the data service provider,” said Ismail Gafoor, CEO of PropNex Realty.

“In the service industry data is the new oil and to be a dominant player requires scale, the merger of interests between SoReal’s local data dominance with Real Estate Analytics Regional and Global initiatives will create the traction required to become not just dominant but the leading player in the data marketplace,” said Chris Marriott, CEO of Savills Southeast Asia.

“This deal accelerates our vision of providing the world with unique real estate data and groundbreaking AI solutions. We feel privileged to be working in partnership with the largest and best agencies in Singapore to take this to the next level,” said Jean-Michel Paul, CEO of Real Estate Analytics.