ImmobilienScout24, Germany’s largest real estate website and a subsidiary of phone operator Deutsche Telekom, has acquired a stake in the Singapore-based peer PropertyGuru Group.

The company said it had acquired “a significant share” in PropertyGuru as a “strategic investor” for “a double digit million Singapore dollar” sum.

PropertyGuru is Asia’s leading property portal group with a presence in nine countries, directly and indirectly via partners. The company’s websites are used by 8.2 million buyers, viewing over 65 million property pages and generating over 200,000 sales enquiries for advertisers every month.

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