Ringier AG and Summit Media have teamed up to form Get Sold Corporation, a 50:50 joint venture which will develop the online classifieds market in the Philippines. The joint venture will develop a range of transactional online products and services, and will initially focus on the online real estate and car classifieds segments.
For its flagship project, Get Sold Corporation will launch MyProperty.ph in September, the Philippines first online portal for real estate buyers and sellers.
Lisa Gokongwei, CEO of Summit Media: “We intend MyProperty.ph to be the premiere name in the online real estate market. MyProperty.ph is to provide a user-friendly and effective platform with the most updated information, making it a venue for buyers and sellers to interact in the most convenient way possible.”
Thomas Trüb, General Manager of Ringier Pacific: “The Philippines is one of the fastest growing markets in SouthEast Asia, and Ringier and its mediaswiss subsidiary have well-established knowhow in the field of online classifieds and directories. Summit Media and Ringier AG have decided to pool their resources and form Get Sold Corporation to build on the strengths of the two mother companies.”
Besides China and Vietnam the Philippines are the third country in the Asian region in which Ringier has business activities.
Ringer Group Communicatoins