You're spot on. However, I think they would argue if challenged...

You're spot on.

However, I think they would argue if challenged that it is in a different space to ddproperty. ddproperty is a classifieds (listing) site, whereas they refer to this as a "real estate portal." A subtle difference, but defensible - though of course somewhat misleading at best.

Incidentally, they're paying $8m for this purchase.

ddproperty is expected to ipo this year around $150m... Gives an idea of their different prospects.