ooba Group have announced that it has concluded an agreement, which once unconditional, will result in ooba increasing its equity stake in Private Property.  This acquisition is in parallel with other investors, including BetterHome and Fledge Capital.  ooba is excited about the opportunity to invest further in Private Property and to partner with its management and real estate customers to increase the focus on Private Property’s core business of providing the best online property portal experience for the home seeker.

Rhys Dyer, CEO of the ooba Group, explains, “Our investment into Private Property supports the vision of our ooba business to “empower people to own their own homes”.  “For so many prospective buyers and renters, that journey begins on a property portal like Private Property, and our increased investment and support of Private Property will add to ensuring that Private Property is the “go-to” property portal of choice for home seekers in South Africa and the chosen property marketing destination for estate agencies and developers.”

ooba first invested in Private Property in 2017, and this increased investment demonstrates our further commitment to the Private Property business and to the strategic importance of strong portal competition in the South African residential property market.  

ooba looks forward to Private Property increasing support to its stakeholders in the residential property market to improve choice and customer experience for home seekers, real estate professionals and other property market participants.   “We see customer experience as vital to the success of any online venture.” 

As Private Property focusses on that more and more, home seekers win, as do Private Property’s real estate partners that list their sellers’ properties.  That vision for Private Property, and our increased investment to support that, is absolutely consistent with the ooba Group’s vision of empowering people to own their own homes”.