Myanmar’s ShweProperty ropes in realty entrepreneur Gilles Blanchard as investor

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ShweProperty.com, Myanmar’s leading property classified site, has got on board seasoned real estate entrepreneur Gilles Blanchard as an equity investor and advisor.

The undisclosed investment has come just three months after the property site fetched a six-digit series A led by institutional investors.

Blanchard co-founded Seloger.com, France’s leading property website which was acquired by Axel Springer for €634 million ($846 million) in 2011.

He continues to invest in the online property space in emerging markets. He chairs Zameen.com, a real estate portal in Pakistan with over 700 employees, leads Bayut.com, a Dubai-based property portal and is involved in BProperty.com – an e-commerce site in Bangladesh.

“Gilles has a lot of experience in property portals, particularly in emerging markets – so it will allow us to use new techniques (both technically and operationally) to support our property buyers and renters even more,” said Justin Sway, CEO, ShweProperty.com. Sway is also CEO of JobNet.com.mm, a Myanmar-focused jobs portal.

It started in 2011 when Kaung Thu Win founded the real estate property portal, now known as ShweProperty.com.

JobNet.com.mm and ShweProperty.com fall under the venture umbrella of MMOne Online Co Ltd in which Sway owns a majority.

The team, after receiving their series A investment in February this year, announced the appointment of Kevin Goos as their managing director. Goos has over 12 years of experience in the real estate industry in the US. and Cambodia. Goos is also the former CEO of Century21 Cambodia, a real estate platform.

The portal’s first round of investment was in May 2015 when Sway invested a six-digit sum. Their second round of series A was completed in February this year.

Sway leads JobNet.com.mm which got a seven-digit series A investment led by institutional investors last month.

On joining the ShweProperty team in Myanmar, Blanchard said, “We will be doing great things together!”

ShweProperty’s focus will be the user experience and to find the right property quickly and to connect buyers and renters even faster than any other offering in the market, said Sway during an interaction with DEALSTREETASIA.

They have laid out a year-long road map which will see a number of new products developed for their property business.

They are closely working with developers to help sell and market their properties and are confident about a broader range of services they can offer to the customers.

“We have a strong management that can engage in multiple levels of service to our customers, including performing their marketing or sales function,” said Sway.

The property portal to date has a monthly statistics of 400,000 visits. They have over 100,000 listings of which about 60,000 are premium property listings.

In Myanmar, the other well-known online classified property portals include Rocket Internet’s house.com.mm and Malaysia’s Frontier Digital Ventures-backed iMyanmarHouse.com.

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