Peter Lim, the Singaporean billionaire owner of Valencia and investor extraordinaire, has taken a 20 percent interest in the new property portal of Tong Kooi Ong, TheEdgeProperty.com, for an undisclosed consideration.
This represents Peter Lim’s first foray into the technology sector. His major investments besides the football club Valencia include Thomson Hospital, FJ Benjamin, and McLaren.
“This unique internet technology enables and helps existing shareholders strengthen their business”, says Mr Lim. “The business model is not disruptive and it is aligned to the interests of the property agents, developers, banks, and public users. Growth prospects are good because it’s very scalable and revenue generation is immediate.
Theedgeproperty.com – the way of the future
There are no comparable property platforms around in terms of comprehensiveness. Besides listings, it has a full range of analytical tools including indicative valuations, past transactions, rental rates, trends, hotspots and new project launches.
As identified by Mr Lim, the fully-inclusive property platform’s objective is to assist all the industry players: from the public buyers and sellers, to the developers, banks, and other service providers. It has partnered ten of the top developers in Malaysia and discussions are in progress in Singapore.
Offering mortgages within the platform is a central feature, where the full experience of buying a property: from searching for listings, to contacting the right agents, to finding the right locations and price, to evaluating comparable properties that are available and transacted, to what price to make an offer and securing a mortgage – is seamlessly and conveniently integrated.
For the first time, property buyers, sellers and renters will have the information that is required in making a better decision, for free.