Jakarta, Indonesia – Rumah.com, the Indonesian marketplace counterpart of proptech company PropertyGuru, will be shut down by November 30 this year. This was according to a letter sent out by Hari V. Krishnan, group CEO and managing director at PropertyGuru, to employees.
According to Krishnan, up until the day they cease Rumah.com’s operations, they will continue to serve their Rumah.com agent and developer partners to ensure minimal disruption to their business operations, as well as refunding the fees paid by them as per the respective contracts.
Meanwhile, for their vendor partners, they will pay the dues as per the individual contractual commitments.
“This decision has not been taken lightly, and we recognize the impact it will have on our valued Gurus and customers, who we have served for well over a decade,” he said.
All of the 61 employees affected by the shutdown will be offered enhanced packages, healthcare support and assistance in their transition to new opportunities, Krishnan also added.
He also announced that it is also shutting down its SaaS product FastKey across all of their markets. It will shut down first in Indonesia on July 31, 2024, and in Malaysia and Singapore on October 15, 2024.
“To our consumers, customers, and vendors, especially those in Indonesia, who have been by our side throughout this journey, we extend our deepest gratitude. Your partnership and trust have been invaluable to us, and we cherish the relationships we have built over the years,” he said.
