Hari Krishnan, CEO of Southeast Asia's PropertyGuru, discusses the growth of the middle class driving housing demand in emerging markets, challenges of operating in diverse markets, importance of trust and transparency, potential of AI in property portals, staying calm in business, Vietnam's optimistic energy, and industry connections for success.
Operates in multiple markets in Southeast Asia, adapting to diverse demographics and needs.
Leverages data and digital solutions to cater to emerging middle-class housing growth.
Deep dives
CEO's Daily Routine and Job Responsibilities at PropertyGuru
The CEO of PropertyGuru, Hari Krishnan, starts his day with an embodiment ritual, focusing on manifesting a positive version of himself. He shares that his job involves creating context, setting the vision and direction for the company, and then allowing his team to execute. Hari explains that his role is akin to a film producer, emphasizing the importance of creating guardrails and rules of operation.
Overview of PropertyGuru
PropertyGuru, a Singaporean startup founded in 2007, operates real estate marketplaces in Singapore, Malaysia, Vietnam, and Thailand. They offer B2B solutions, including enterprise products for urban planners and financing operations. With a monthly reach of 40 million people, PropertyGuru is likened to the Zillow of Southeast Asia, focusing on aiding individuals in finding their homes.
Revenue Model of PropertyGuru
PropertyGuru generates revenue through annual subscriptions for agents to access their marketplace and advertise their properties. They also offer advertising solutions for real estate developers, offline products like events and awards, catering to the emerging real estate markets in Southeast Asia. Their focus on new projects and digital solutions aligns with the evolving needs of the region.
Real Estate Landscape in Emerging Markets
In countries like Vietnam, urbanization, middle-class emergence, and digitization are happening concurrently, setting them apart from developed markets. The real estate sector in these regions faces unique challenges due to diverse demographics, political systems, and stages of development. PropertyGuru's localized approach addresses these market-specific needs, emphasizing the importance of adapting solutions to optimize for each region's context.
Hari Krishnan, CEO of Southeast Asia's PropertyGuru, and I discuss the demographics of emerging markets, an emerging middle class fueling housing growth, the benefits and challenges of operating in multiple markets, building trust and transparency, SE Asia's data opportunity, responding to AI's existential threat to property portals, the business case for staying calm, Vietnam's optimistic energy, and the power of industry connections.
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