Singapore, 4 June 2015 - 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.
Tong is the owner of The Edge Media Group, publisher of The Edge Singapore, The Edge Malaysia, The Edge Review, The Edge Financial Daily and theedgemarkets.com.
This represents Peter Lim’s first foray into the technology sector. His major investments besides the football club Valencia include Thompson 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. The fundamental strength in Tong’s TheEdgeProperty.com is it wins by enabling existing stakeholders to win.”
Tong’s experience is the driving force behind this unique business model. Starting out as a financial analyst, he built a successful universal bank in the 1990s. A pioneering technopreneur, Tong was the first to introduce an integrated online, mobile, equity trading, and e-commerce banking platform in the 1990s. As a property developer, He led Phileo Land in the 1990s and then Sunrise Berhad in the 2000s with much success.
Theedgeproperty.com – the way of the future
TheEdgeProperty.com will have its official launch event in Singapore on 25 July 2015, after having made a successful debut in Malaysia on 7 May 2015. Currently, the site is live.
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 will be 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 all the information that is required in making a better decision, for free.
And if none of the existing listings meet their complete criteria, whether it’s the product, location or the price they are prepared to pay, simply use the property watch list and they will be informed once a new listing that meets their criteria becomes available. This way, they will not miss the deal they are looking for.