Released on: August 28, 2008, 2:27 am

Press Release Author: iProperty.com

Industry: Internet & Online

Press Release Summary: The iProperty Group continues to seek further strategic
acquisitions of leading property portals and complimentary businesses throughout
regional markets.

Press Release Body: SINGAPORE, August 20, 2008 – Following the launch of Asia’s
first regional luxury property website – iLuxuryasia.com, the iProperty.com Group,
owner of Asia’s leading network of property portals, as well Singapore’s No. 1 real
estate website, iProperty.com Singapore, has acquired a controlling stake in
Info-Portal Tech International Company Limited, owner of the No. 1 property buying
website in Taiwan, VRHouse.com.tw.

VRHouse.com.tw is the No. 1 online property portal in Taiwan as measured by user
traffic, developer clients and revenue. Info-Portal Tech International Company
Limited is based in Taipei and operates VRHouse.com.tw and all its related sites,
which are Chinese language based. In total, over 225,000 unique users view and use
VRHouse.com.tw’s property listings and services each month.
Patrick Grove, Executive Chairman of the iProperty.com Group Limited, noted, \"We are
delighted with the acquisition of VRHouse.com.tw in Taiwan. Our experience in
Singapore, Hong Kong, Malaysia and the Philippines allows us to bring a strong
value-add proposition to VRHouse.com.tw. We also look forward to working with the
dynamic, entrepreneurial local team to further dominate the Taiwan market and the
region at large,” he said.
“Most importantly, this acquisition completes our ownership of market-leading
property portals across the Chinese diaspora in the region. We now hold the unique
position of operating the leading online property portals in all the
Chinese-speaking markets in this region ex-China, allowing us an exceptional
strategic opportunity. Taiwan’s broadband penetration is exceptional and recent
moves to open the market to mainland Chinese investment means nothing but good news
is on the horizon for the property market in Taiwan.”


“We are extremely pleased that we have been able to acquire the clear leader in the
Taiwan online property market. iProperty.com’s regional sites and listings network
is now viewed by over 1 million unique users in Asia Pacific each month, said Mr.
Grove.
“We are further excited by the recent political events and strengthening of ties
with China which is expected to lead to a significant increase in mainland Chinese
investing in Taiwanese property. We plan to position VRHouse.com.tw as a key media
property that facilitates this process,” he added.
Said Jackson Cheng, Chairman of Info-Portal Tech International Company Limited, “We
are extremely excited by this transaction and believe that under the iProperty.com
umbrella, VRHouse.com.tw’s efforts to continue to grow and dominate the online
property market in Taiwan will be greatly boosted.”
The acquisition of VRHouse.com.tw sees iProperty.com Group add to its market-leading
online property operations in Singapore, Malaysia, Hong Kong and the Philippines,
and represents the latest in a string of acquisitions since its listing on 11
September 2007.
The iProperty Group continues to seek further strategic acquisitions of leading
property portals and complimentary businesses throughout regional markets.


Web Site: http://www.iproperty.com.sg

Contact Details: 47-9 Boulevard Offices
Mid Valley.59200
Kuala Lumpur

e-mail : Chris Cheung (chris@iproperty.com)
Khairil (khairil@iproperty.com)