Aurum PropTech Acquires PropTiger: A Strategic Move in Real Estate

Aurum PropTech is set to acquire PropTiger, a housing brokerage platform, from REA Group in a strategic equity swap. The acquisition will see an issuance of equity shares to REA. As part of its expansion strategy, Aurum PropTech is launching a Small and Medium Real Estate Investment Trust (SM-REIT) to attract retail investors.

Aurum PropTech has announced its acquisition of PropTiger, a Gurugram-based housing brokerage platform, from Australia's REA Group through a strategic equity swap. The Board of Aurum PropTech approved the acquisition and the issuance of 42,42,537 equity shares to REA as the consideration.

This acquisition signifies a pivotal moment as Aurum PropTech expands its portfolio in the real estate domain. PropTiger is part of REA India, which also owns Housing.com, a renowned real estate classifieds platform. The move aligns with Aurum's broader business expansion strategy.

Additionally, Aurum PropTech is poised to launch its Small and Medium Real Estate Investment Trust (SM-REIT), registered under the name AMSA SM REIT Investment Trust. The initiative will allow retail investors to own fractional shares of premium office assets, adding to the company's diverse offerings and growth trajectory.

(With inputs from agencies.)