KUALA LUMPUR: iReal Property Sdn Bhd (iRealty), with its 350 experienced real estate agents, are merging with IQI Global, the agent network owned and operated by Juwai IQI.
In a statement today, Juwai IQI said under the terms of the agreement, iRealty's network of agents in Johor, Perak, Selangor, Kuala Lumpur, and Kuantan will adopt IQI's brand and technology, including Juwai IQI's super-app.
iRealty co-founder and chief executive officer Muhazrol Muhamad said joining Juwai IQI would give the company access to the technology and greater resources that we need to keep thriving.
"I am confident this merger will provide our team with new opportunities to better serve their clients and their communities," he said in a statement.
IQI Global Group chief executive officer Kashif Ansari said the merger would enable the group to expand its footprint and better serve both developers and consumers.
"Juwai IQI is using its technology platform to build the future of real estate. By automating, digitizing, and innovating, they are increasing agent productivity and profitability. That delivers better results for both buyers and sellers in the real estate market.
"Not so many months ago, we announced RINA Group's merger as well as the partnership with OrangeTee & Tie in Singapore," he said.
Kashif said the group's strategic goal was to embrace technology and build the future of the real estate transaction.
Juwai IQI executive chairman Georg Chmiel Juwai IQI's super-app, its backend platform, its Chinese and Asia-wide real estate marketing portals, and its agent network are integrated to offer the best possible results for property marketers and buyers.
"Our mission is to help residents of Asia become residents of the world by offering them property from as nearby as their own neighbourhood and from as far away as the other side of the globe.
"I am excited about this merger between IQI and iRealty because it expands our reach in Malaysia and will make us more successful there."
He said Covid-19 had accelerated the trend in the real estate industry towards greater use of technology.
"The agents and the companies that succeed over the next 10 years will be the ones that are best able to deploy technology," he added.