PropertyGuru, Southeast Asia’s leading proptech company, is making headlines once again—not for acquisitions or job cuts this time, but for a strong comeback. After a series of strategic changes, including its delisting from the New York Stock Exchange (NYSE) and a wave of restructuring, PropertyGuru has returned to growth mode, reporting a notable double-digit increase in revenue. This rebound signals a fresh chapter for the Singapore-based firm, as it repositions itself in a highly competitive real estate tech market.
A Strategic Reset After Delisting
PropertyGuru made waves in 2022 when it went public on the NYSE via a SPAC deal. However, the expected performance didn’t quite materialize, and the company eventually delisted from the US market in early 2024. While delisting is often seen as a setback, for PropertyGuru, it acted as a turning point.
The delisting allowed the company to refocus on its core Southeast Asian markets without the pressures of meeting short-term investor expectations from the US. Executives described the move as a “strategic realignment,” giving them the flexibility to streamline operations and make long-term decisions.
Regrouping Through Restructuring
Part of that realignment involved difficult decisions. Earlier this year, PropertyGuru underwent a round of job cuts aimed at optimizing internal resources and reducing operational costs. Though painful, these changes were instrumental in creating a leaner and more agile organization. The company restructured teams, eliminated redundant roles, and invested more in data and technology—critical elements in proptech success.
Rebound With Double-Digit Growth
The results of this soft reboot are now starting to show. PropertyGuru recently announced a double-digit year-on-year growth in both revenue and user engagement. Traffic across its property listing platforms in Singapore, Malaysia, Vietnam, and Thailand has surged, fueled by renewed demand in real estate markets and improved platform experience.
Key to this rebound has been the company’s investment in AI-driven property insights, personalized recommendations, and enhanced mobile experiences. These improvements have made the platform more appealing to both users and real estate professionals, increasing conversions and advertising revenue.
What’s Next for PropertyGuru?
Looking ahead, PropertyGuru is focusing on deepening its presence in existing markets while exploring opportunities in underserved regions. The company also plans to expand its fintech and data services, helping users not just find properties but finance them smartly.
The leadership team is optimistic. With a clearer strategy, renewed focus on regional strength, and a commitment to innovation, PropertyGuru is positioning itself not just as a property listings site but as a full-service digital real estate ecosystem.
Final Thoughts
PropertyGuru’s story is a powerful example of corporate resilience and strategic clarity. After navigating the turbulence of a delisting and internal restructuring, the company is bouncing back stronger, leaner, and more focused. With double-digit growth leading the way, PropertyGuru seems well on its path to reclaiming its position as the dominant force in Southeast Asia’s proptech landscape.
