Property sales and media powerhouse Juwai IQI has added Malaysia's third-largest real estate agency group to its stable, with the announcement that the RINA Group will become part of the company.

Founded in 2010, the RINA Group has since grown to incorporate seven offices and more than 1000 agents and negotiators.

Last year the company was responsible for closing approximately RM1.2 billion (US$275 million) in transactions.

At a glance:

• Malaysian real estate agency group, The RINA Group, will merge with Juwai IQI, following an announcement by the two companies.
• Founded in 2010, The RINA Group has since grown to incorporate seven offices and more than 1000 agents and negotiators.
• 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.

RINA Group CEO Jordan Yeoh, who as a result of the merger will become Vice President of IQI, said the deal would allow his team to gain scale and relevance both in Malaysia and internationally.

“By joining IQI, we are giving our agents access to the Juwai IQI technology-enabled platform," he said. 

"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.

"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."

IQI Global Group CEO Kashif Ansari. Source: IQI Global

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, having sold RM4.34 billion (US$1 billion) of property in 2019. 

IQI Global Group CEO Kashif Ansari said the merger was an example of how the company was able to take steps forward in a market challenged by COVID-19. 

"We are excited by the opportunities this move creates and more than delighted to have the RINA Group and its associates join us," he said.

"Welcoming them into our organisation will give us an immediate boost in scale and bring a wealth of new talent into the business.

"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.” 

Juwai IQI Executive Chairman Georg Chmiel. Source: Juwai IQI

His sentiments were echoed by Juwai Executive Chairman Georg Chmiel, who said the two companies would draw on their respective 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," he said.

“I warmly welcome Jordan Yeoh, his cofounder Fiona Chin, and the entire RINA Group and its associates to Juwai IQI." 

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