Singapore’s YY Group acquires 24IFM, eyes $13Mn revenue boost
SINGAPORE, SINGAPORE — YY Group Holding Limited, a Singapore-based provider of integrated facility management (IFM) and on-demand workforce solutions, has acquired the Managing Facilities Applications platform, which will now operate under the brand 24IFM. Financial terms of the acquisition were not announced.
This move deepens the Group’s expansion into digital property management, adding a new subscription-based revenue stream and enhancing client service delivery.
The acquisition is expected to generate approximately SGD 17.04 million (US$ 13.24 million) in revenue by 2029, targeting Singapore’s fast-growing IFM sector, which is projected to reach US$ 4.25 billion by 2030.
A digital leap in property management
24IFM is a platform that digitizes traditionally manual property and facility management tasks. Designed for managing agents and homeowners, the app offers a wide range of tools, including:
- Facility booking and scheduling
- Local tutor and coach search
- Real-time property insights and maintenance data
- A household service marketplace
- Automated quarterly invoicing and online payments
By shifting these functions online, 24IFM streamlines daily operations and enhances user convenience, reducing the need for physical interaction.
“As we integrate 24IFM into our portfolio, we’re committed to continuous innovation, ensuring the app evolves to meet user needs with new features and an enhanced user experience,” said Mike Fu, Chief Executive Officer and Executive Director at YY Group Holding Limited.
Strengthening YY Group’s IFM footprint
YY Group operates across Asia, the Middle East, and Europe, offering on-demand staffing and integrated facility management solutions. Its core markets in Singapore and Malaysia serve sectors including hospitality, logistics, retail, and healthcare.
The acquisition of 24IFM supports YY Group’s goal of building scalable digital solutions that meet evolving client needs. The Group’s Operations and IT teams are working on a smooth rollout of the app, with ongoing updates planned to further enhance user experience.
Tapping into a multi-billion-dollar opportunity
The IFM market in Singapore is estimated at US$ 3.65 billion in 2025, growing at a CAGR of 3.1%. YY Group’s digital push with 24IFM positions it to capture a significant share of this market while strengthening its brand as a tech-enabled leader in facilities and workforce management.
Meanwhile, YY Group previously acquired UFS to expand in Singapore’s $88 billion security market.
