PropertyGuru records net loss of S$16m

KUALA LUMPUR: Property technology firm PropertyGuru reported a net loss of S$16 million in the second quarter of 2024, despite a 10 per cent increase in total revenue, reaching S$41 million. The company’s marketplaces revenue grew by 11 per cent to S$39 million during the quarter, driven by improving market conditions in Malaysia and Vietnam, and strong performance in Singapore. Malaysia’s marketplaces revenue rose 12 per cent year-over-year to S$7 million, as the company leverages the market strength of iProperty and PropertyGuru Malaysia.