Naspers, a South Africa-based multinational mass media company, is setting up an online classified ads shop for properties through its local partner sulit.com.ph.
Naspers is one of the biggest shareholders of Netrepreneur Connections Enterprises Inc. , owners of sulit.com.
Carrying the portal address www.property24.com.ph
, the online portal carries the same brand Nasper earlier put up in South Africa, Zimbabwe, Kenya, Nigeria, and Mauritius.
The website aims to be the preferred go-to place for property buyers, connecting suppliers with buyers.
“The growth in the property sector is very high. The market is brimming,” said JP Farinha, Property24 chief executive officer.
“We are also looking at other countries, we think there is an opportunity in Southeast Asia,” added Farinha.
Property24 will operate independent of sulit.com.ph’s real estate section where the buy-and-sell portal provides space for people who has property that they want to sell, according to Me-anne Bundalian, sulit.com.ph business development head.
The difference between the two sites however is that the other will focus on connecting buyers with realty agents, as in the case of Property24, while the other will be more of a private seller.
“Property24 will provide value-added services while sulit.com.ph will just be a listing site,” said Bundalian.
Steven Santos, Property24 country manager, said the firm is also in talks with major developers to list all their projects under Property24.
Currently the company has closed a deal with Century Properties Group to list their projects in Property24.
Property24 is seen to be a strong contributor for sulit.com.ph’s goal to be a dominant buy and sell portal in the Philippines.