Singapore -- (SBWIRE) -- 08/19/2010 -- PropertyGuru.com.sg, Singapore’s leading property site, has launched CommercialGuru.com.sg, a comprehensive site dedicated to commercial properties in Singapore and the region so as to cater to the rising demand for office, retail and industrial space.

The move is timely given that Singapore’s commercial sector is gaining strength in leasing demand from both local and foreign companies, attributed to the strong economic recovery as well as rising business confidence. At the same time, an additional 38 million square feet of additional business space is in the pipeline over the coming five years (source: DTZ and Allproperty Media) which will exert a downward pressure on prices and occupancy rates. As a result, developers and agencies will be under increasing pressure to lease or sell space due to oversupply in certain areas of the market.

CommercialGuru.com.sg helps property advertisers target businesses and investors in Singapore and overseas who are searching for commercial property. It also provides commercial property businesses and investors with a one-stop access to the largest property database of commercial properties on sale or lease, new launches, contacts of property agents or owners, maps and directions, pricing trends, mortgage advice, as well as a dedicated trade forum to reach out to property experts. The site allows the user a quick and easy way to find the property and services they need. There are more than 7,000 commercial property listings available at the time of its launch.

Steve Melhuish, CEO of Allproperty Media Pte Ltd, said, “There are already 40,000 business users searching 500,000 pages and generating 2,500 leads each month for commercial properties on PropertyGuru – this is expected to grow rapidly with the launch of CommercialGuru. We are excited about being the first portal in Singapore that is dedicated to commercial properties, and are confident that it will help developers and agencies close transactions faster, and make it much easier and faster for businesses to find space. To date, we have received very positive response from real estate developers and agencies in Singapore and overseas.”

The new site’s leading industry partners include SLP International, EL Development, LHN Group, Far East Business Space, Lian Beng Group, Sing Holdings, Sin Soon Lee Development, Wee Hur. Property agencies onboard include Propnex, Dennis Wee Group, CBRE, OrangeTee and Knight Frank.

“SLP International is very excited to work with CommercialGuru.com.sg. We believe this new portal will impact the way businesses look for commercial properties and we are very pleased to be onboard,” said Trica Teo, Executive Director, SLP Holdings.

"PropNex and PropertyGuru have enjoyed a longstanding working relationship. Many of our 6,000 agents have benefitted from the reach of PropertyGuru’s portal, which we know has provided greater connectivity between agent and consumer. The Internet is an increasingly powerful medium and PropertyGuru’s application of this medium has enhanced the marketing power of our agents. CommercialGuru should be an innovative tool that provides clients searching for business space another avenue and more opportunities to get in touch with agents who specialize in this sector of the property market.” said, Adam Tan, PropNex’s Corporate Communications and Marketing Manager.

"We are pleased to be working with CommercialGuru. We are confident that this will be a targeted and effective marketing channel for us,” said Lee Sze Hao, CEO, Sing Holdings Limited.

SingCapital’s CEO, Alfred Chia C K, said, “I am very pleased that there is finally a platform dedicated to commercial property. I believe that there is great potential on the commercial property industry in Singapore. From the business owners’ point of view, having your own properties is the best hedge against landlord who will increase rental when your business is doing well. It can also provide great returns. From the investor’s point of view, commercial property can deliver good yields.”

“Commercial properties contribute a large part of the real estate industry in Singapore and it is exciting to finally see a portal dedicated to this. We have been working very closely with PropertyGuru for residential properties and we believed that this partnership will successfully extend to our commercial space business through CommercialGuru,” said Michael Tan, Agency Director for Orange Tee Agency.

For more information, please visit http://www.commercialguru.com.sg.

About CommercialGuru.com.sg
CommercialGuru is Singapore’s commercial space expert – the best place to start your commercial property search whether you are an investor, buying for own use, or looking for a space to rent. In CommercialGuru, you can find over 7,000 commercial properties for sale and rent with detailed information about each property, including maps and photos. We bring you the most comprehensive selection in the market – whether its offices, retail space or industrial properties. If you need additional help in your commercial property hunt, you can also consult our preferred real estate agents using Ask Guru – or if you are looking for a specialized agent, you can search our Agent Directory.

Singapore has one of the world’s most dynamic commercial property markets and we bring you the most complete and up-to-date listings to help you make your investment decision. Prospective commercial property investors should also consult our commercial property resources, market news and research reports.

CommercialGuru is brought to you by Allproperty Media Pte. Ltd, the operators of PropertyGuru.com.sg, Singapore’s Leading Property Site used by over 1.6 million consumers who view 26 million pages, and LoanGuru.com.sg, Singapore’s Leading Online Independent Mortgage Broker which chalked up its 4,000th user last month.

About PropertyGuru
http://www.PropertyGuru.com.sg is Singapore’s leading property and home site and the brainchild of AllProperty Media Pte Ltd, a local firm established in 2006. The site recently won the CNBC “Worlds Best Property Award” as well as the CNBC Asia Pacific Property Awards for “Best Property Portal Asia Pacific” in 2009 and “Best Property Portal Singapore” in 2008 and 2009. According to Hitwise, Google Insights & Alexa.com, PropertyGuru is the leading property portal in Singapore.

http://www.PropertyGuru.com.sg provides real time access to multi-media rich content covering property and home-related products, services, news, advice, guides, tools and largest online property database in Singapore. It works closely with prominent real estate developers in Singapore and overseas, over 18,000 housing agents, and home-related firms.

The site is used by over 1.6 million consumers who view 26 million pages and generate over 150,000 leads for advertisers every month (sources: Hitwise, Google Analytics). PropertyGuru's user base has consistently grown by 15% per month since its launch. These users are ‘mass affluent’ and comprise 53% earning over $100k, 13% over $250k pa; 35% expatriates; 85% live in Singapore, 15% overseas (foreigners and Singapore expats); 32% own 2 or more properties (source: survey conducted by Aktiv Digital with 800 respondents).

Media Contact
Florence Fang, Flame Communications
Contact number: 6253 3193 / 9768 8186
Email: florence@flamecomms.com