It’s official! Private Property has announced the conclusion of an exciting new deal that saw this industry leading name undergo a change in ownership. A consortium of proudly South African buyers, spearheaded by media giant, Caxton CTP, have taken the reigns of the property portal over from the U.S. based OAM – a private equity controlled company. We are confident that the new partnership will produce truly exceptional results, and will continue to move from strength to strength.
It is with this in mind that Kormorant and Private Property are pleased to inform all existing and new local estate agents and property clients that in due course, your listings will be searchable on the relevant Caxton newspaper website e.g. ‘Properties in North West’ will be searchable on the Kormorant website as well as on Private Property. We are currently working together to ensure that our clients receive only the very best in property advertising solutions both digitally and in print.
Contact us today to take full advantage of this fantastic opportunity.
Other buyers include industry participants who bring a considerable depth of expertise to the table. The deal was concluded with the assistance of the industry body, Real Estate Business Owners of South Africa, and was approved by the Competitions Commission. Simon Bray, CEO of Private Property, noted:
“Private Property has grown strongly over the past three years, achieving excellent results as a digital platform and now holds a significant position in the South African market. We are really pleased that we could conclude a deal that maintains our independence and affords us the opportunity to enhance the role that technology can play in the real estate industry.”
Simon adds, “This is good news for everybody. For Private Property, we get to keep doing what we are passionate about: building a great service for property shoppers. For the industry, it ensures a vibrant, competitive environment with at least two big platforms offering advertising services.”
Whether buying or selling, look no further than the Kormorant and Private Property for all your real estate needs. Get in touch now to learn more.