Singapore billionaire Peter Lim invests in theedgeproperty.com

SINGAPORE (June 4): The Singaporean billionaire who owns Valencia, Peter Lim (pictured, below), has taken a 20% interest in the new property portal - theedgeproperty.com, for an undisclosed consideration.

This also represents Lim’s first foray into the technology sector. His major investments beside the football club Valencia include Thompson Hospital, FJ Benjamin and McLaren.

“This unique Internet technology enables and helps existing shareholders strengthen their business. The business model is not disruptive and it is aligned to the interests of the property agents, developers, banks and public users,” said Lim via a statement, adding that the growth prospects are good because it’s scalable and revenue generation is immediate.

theedgeproperty.com is a fully-inclusive property platform, which aims to assist all the industry players from the public buyers and sellers, to the developer, banks and other service providers. Among the special features of the site are: The Edge Fair Value, an algorithm generated indicative value based on the most recent real transacted prices; advance analytics by area and property type on price per square foot, absolute price, historical price and transaction volume; advance analytics based on projects – sale transactions, asking rental, surrounding amenities and comparison with nearby projects; hot spots tracker that tell you what is trending; proprietary news, research and Feng Shui consultation; and free property listings.

The site made a successful debut in Malaysia on May 7, while the official launch in Singapore will be take place on July 25 this year.  

Datuk Tong Kooi Ong is the executive chairman of The Edge Media Group, which owns theedgeproperty.com, The Edge Singapore, The Edge Malaysia, The Edge Review, The Edge Financial Daily and theedgemarkets.com.

Tong started out as a financial analyst, and he built a successful universal bank in the 1990s. He is also a pioneer technopreneur who was first to introduce an integrated online, mobile, equity trading and e-commerce banking platform in the 1990s.