source: The Australian
ONLINE property classified leader Realestate.com.au (REA) has commenced a major assault on the Asian online real estate market, using two newly launched websites in Hong Kong and Dubai as a linchpin to expand in the region.
Chief executive Simon Baker told the company’s annual general meeting that its objective was “to become No1 or No2” in every market in which it operated.
The company was now the No1 online real estate player in Australia, Italy and Luxembourg, he said, with strong positions in a number of other markets, including the UK, through propertyfinder.com. However, the prospect of growth in the Asian market is attracting most of Mr Baker’s attention.
In September, REA – majority-owned by News Limited, publisher of The Australian – bought Hong Kong’s leading English language property publication, Square Foot magazine, and last month launched a sister online property brand, Squarefoot.com.hk.