GFG divested its Room Rental Operations for RM32m to focus on helping  Property Owners to generate income for their properties

Part of GFG’s property acquisition, that is its largest co-working hub positioned in Klang with a rooftop occasion area that comprises a “glasshouse” occasion corridor that may cater to over 200 friends.

GFG Group (“GFG”) introduced right now that it has divested its Room Rental Operation (RRO) portfolio, with over 6,000 rooms beneath its operation, to an undisclosed Singapore-based Co-living firm. The divestment is a part of GFG’s technique to focus on rising its core platforms in Property Management and Property Technology (Prop-tech) enterprise actions. The divestment of the room rental operation will end in an estimated web acquire of RM32 million. As a part of the settlement, GFG will handle the properties for the brand new firm for a fee-based association.

“Our strategic priorities embody an elevated focus and allocation of sources towards Property Management and Prop-tech” mentioned Lee

“We had come a good distance up to now 9 years to develop our enterprise to the present stage. This is just potential with the good help of our superb workforce, clients, and enterprise companions. This has been a strong contributor to our efficiency,” mentioned Ken Lee, Chief Executive Officer, GFG Group. “However, our strategic priorities embody an elevated focus and allocation of sources towards Property Management and Prop-tech. We need to develop these two foremost pillars, which additionally embody our Property Investment, Property Insurance, and Construction companies. Today’s announcement helps place GFG to additional develop our core companies and unlock worth for our shareholders.”
GFG is a property companies firm that has been established in 2012. GFG’s main enterprise is to present property homeowners and buyers, resort homeowners and operators, in addition to property builders with strategic outsourcing options for managing their properties. GFG has additionally prolonged its 1-Stop Rental Property Management companies to Property Developers with Overhang stock – turning unsold stock into money stream technology belongings through rental returns. GFG goals to present each Malaysian the power to discover a secure, comfy, and inexpensive place to keep.
GFG works very intently with resort homeowners and operators to assist them flip their properties from short-term keep to mid-to-long time period keep throughout the pandemic interval. This has helped many to flip their companies round within the absence of worldwide and home tourism. This offers these motels with lifelines to maintain and proceed to develop their enterprise, by assembly the present demand for inexpensive and secure rooms to keep.
For homeowners of business properties, GFG has additionally labored with them to rework their open workplace area to lease to co-working hubs with inexpensive devoted workplaces. Their clients can benefit from the facilities and companies that include conventional co-working areas, however with the privateness and security of their personal personal workplaces at very inexpensive charges. This is one other enterprise that GFG has helped quite a few business property homeowners and companies to unlock their properties worth.
Today, GFG Group is Malaysia’s Largest and Pioneer in Room Rental and Property Management enterprise. GFG is helping Property Owners to handle greater than 800 properties and servicing greater than 8,000 tenants in our vary of lodging from landed to high-rise properties throughout Malaysia. It has been helping property buyers and homeowners to enhance their property worth through robust and constant rental yield, each for residential and business properties over the previous 10 years. Apart from managing residential properties, GFG additionally manages a co-working hub, within the coronary heart of Klang city, with over 100 personal workplaces, 5 assembly and occasion halls, and the newly launched, glasshouse occasion area that may cater up to 200 friends, positioned on the rooftop of GFG Tower.
GFG is investing its sources and focus on the Prop-tech business, together with its current, largest acquisition of iBilik from The Star Media Group. iBilik is Malaysia’s Largest Room Rental platform, with a presence in Singapore, Indonesia, Brunei, and the Philippines.

Transforming the enduring model iBilik from only a room rental platform to an ecosystem the place property homeowners and tenants can entry GFG’s end-to-end property administration answer

GFG is focusing on rising its priced funding, by bringing the enduring iBilik, from a Room Rental Listing Platform to a 1-Stop Rental Property Management Ecosystem, providing companies together with Property Management, Tenancy Management System, Zero Deposit Insurance, Renovation, and Rent-to-Own. Property Owners and Tenants might be ready to entry all these companies proper from their fingertips.
Over the subsequent 5 years, GFG is concentrating on to assist Property Owners throughout Malaysia in managing greater than 100,000 rooms, or over 25,000 properties. GFG can be concentrating on to help Property Owners to herald 100,000 profitable leads in a yr by way of the iBilik platform. GFG Group is constant to search out precious properties in addition to partnerships and acquisitions of operators, property-related applied sciences, platforms, and marketplaces to assist them to obtain its long-term objectives.
GFG’s imaginative and prescient is “To Create a Conducive and Connected Co-living and Co-working for each citizen in Southeast Asia.”
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