PETALING JAYA: Blue Duck Tech Sdn Bhd aims to replace up to RM500 million in rental deposits per year in the local property industry, which it hopes t...
Wong says Blue Duck hopes to replace RM500 million in rental deposits per year and expects to achieve its target five years from now.Blue Duck Tech Sdn Bhd aims to replace up to RM500 million in rental deposits per year in the local property industry, which it hopes to achieve within the next five years via its Zero Deposit Programme.
He reckoned that if the average was three months of rental deposits, it would be close to RM18 billion. “We work with all the stakeholders in the property sector to offer our solutions. We also have the USP of giving focus on the tenant’s side rather than the landlords in terms of our product mainly because we need the tenant to actually commit,” he toldHe said the company operates on business-to-business and business-to-consumer models. B2C consists of operators as well as property managers, which manage the properties on its platform. Consumers comprise tenants and landlords.
The company, he said, is targeting to grow by 50% this year, by partnering with players in the local property ecosystem. On outlook, he opined that the company is benefiting from increased interest rates due to the overnight policy rate hikes, as it discourages home ownership and indirectly uplifts the rental market.
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