One of Malaysia’s largest real estate agency groups, the RINA Group and its associates, will merge into Juwai IQI, the owner of Juwai.com, Juwai.asia, and IQI, the two companies announced today. The RINA Group and its associates’ more than 1,000 agents and negotiators will become members of IQI’s 9,000-person global team and will adopt the IQI brand.
The RINA Group and its associates make up Malaysia’s third-largest real estate agency group. Founded in 2010, it has seven offices throughout peninsular Malaysia. Its more than 1,000 agents and negotiators in 2019 closed transactions with an aggregate value of approximately RM1.2 billion (US$275 million).
Juwai IQI is the holding company that operates the Asian real estate super-brands dedicated to empowering residents of Asia to become residents of the world: IQI and Juwai Limited. IQI is the No. 1 real estate network in Southeast Asia and the Middle East. IQI sold RM4.34 billion (US$1 billion) of property in 2019.
JORDAN YEOH QUOTES
RINA Group CEO Jordan Yeoh, who as a result of the merger will become Vice President of IQI, said:
“By joining IQI, we are giving our agents access to the Juwai IQI technology-enabled platform. Technology is already playing a much bigger role in real estate because of the pandemic, and this role will grow quickly in the years to come.
“We have great respect for IQI as the Southeast Asian industry leader. By joining with IQI, our team gains both scale and relevance in Malaysia and internationally. That has been a long-standing goal for our business.
“Being part of IQI will help our agents succeed. Our agents will benefit from being able to harness the lead generation capabilities of Juwai.com and Juwai.asia to help them sell, win and offer properties from all over the world to over 3.3 million monthly users.They will also enjoy the supportive culture and extensive training that IQI offers.
“We couldn’t be more excited about the opportunities available to us as part of IQI. We look forward to working together as one team.”
KASHIF ANSARI QUOTES
IQI Global Group CEO Kashif Ansari said:
“This is an exciting opportunity to unite two world-class teams and become a bigger regional powerhouse. We are excited by the opportunities this move creates and more than delighted to have the RINA Group and its associates join us.
“Technology is now an essential component of real estate whose role is only growing. Companies that aren’t using technology in management, marketing, sales, and post-transaction support will face increasing challenges.
“We have great respect for the RINA Group and its associates, admire their outstanding achievements, and are honoured to have them merged into the IQI family. Welcoming them into our organisation will give us an immediate boost in scale and bring a wealth of new talent into the business. Actions like this are enabling us to thrive, even in a market challenged by COVID-19.
“Merging with the RINA Group will further accelerate our growth in both market share and transaction size. This merger also gives added momentum to our regional and global expansion, which has already taken us into 15 countries. We look forward to an exciting new chapter.”
GEORG CHMIEL QUOTES
Juwai IQI Executive Chairman Georg Chmiel said:
“We celebrate a new milestone today as we formally welcome the RINA Group and its associates into not just the IQI team but the entire Juwai IQI family. Together, we will draw on our decades of experience to push the boundaries of innovation with the goal of delivering outstanding technology and service to meet the needs of the property industry.
“The leadership at IQI and the RINA Group and its associates deserve congratulations on being able to conduct this merger during a period when Malaysia has been under the Movement Control Order.
“I warmly welcome Jordan Yeoh, his cofounder Fiona Chin, and the entire RINA Group and its associates to Juwai IQI.”
— End of Press Release —
Next suggested article: Juwai IQI launches Juwai Asia