Mumbai, July 20 -- Aurum PropTech has signed a binding agreement to acquire 100 per cent of Housing.com from REA Group in an all-equity transaction, bringing one of India's largest real estate marketplaces into its property technology ecosystem.
Under the transaction, Aurum PropTech will issue 19.79 million equity shares, representing approximately 20.5 per cent of its enlarged share capital, to acquire Housing.com. Following the deal, REA India will increase its shareholding in Aurum PropTech to 24.9 per cent.
The combined platform aims to integrate property discovery, transactions, financing, rentals and property management across the real estate lifecycle. The companies said the transaction will support the development of an AI-native operating system for the Indian real estate sector, using a common data and artificial intelligence architecture to improve property search, pricing, matching, transactions and customer experience.
According to the companies, Housing.com attracts more than 58 million average monthly visits and has over 12 million monthly active users, while Aurum PropTech operates a technology-enabled ecosystem spanning real estate transactions and services.
Ashish Deora, Founder and Chief Executive Officer, Aurum Ventures, said the acquisition combines a leading property marketplace with Aurum's transaction platform to create an integrated digital ecosystem powered by AI and data.
Cameron McIntyre, Chief Executive Officer, REA Group, said Aurum's local market expertise and technology capabilities position it to build on Housing.com's existing business while enabling continued collaboration between the two organisations.
Published by HT Digital Content Services with permission from Construction World.