Singapore-based publisher Heart Media Group has acquired Palace, a quarterly magazine focused on high-end properties for sale in Asia and around the globe.
With a print-run of 35,000 copies, PALACE magazine is published and distributed on a quarterly basis in Singapore as well as in key cities across Asia-Pacific: Kuala Lumpur, Jakarta, Bangkok, Hong Kong, Melbourne, Sydney, Manila, Beijing and Shanghai.
The magazine reaches High Net Worth Individuals (HNWI) across the region looking at buying high-end properties within Asia or in major capital cities worldwide.
Mr. Olivier Burlot, CEO & Publisher at Heart Media, comments: “Over the past three years, Oriental Publishing have built the PALACE media brand in the luxury property and lifestyle media market and have gained the trust of the most discerning & sophisticated readers.
With PALACE magazine joining our Group, we will offer additional integrated and tailored solutions to our clients, with leading marketing capabilities in the print, digital and events environments”.
“Heart Media, as one of the leading magazine publishers in Asia, will continue to seek out new opportunities actively, leveraging on our existing portfolio to better serve our readers and advertisers”.
Mr. Burlot also answered our question about the future of Heart Media:
Is Palace the first magazine in the group to go beyond Singapore and into North Asia and Australia? Or are other Heart titles already in these markets?
“Yes it is the first magazine within Heart Media to have such a regional reach. We believe that HNWI around the region are savvy for high-end property investments in Asia and around the globe.
So, working with likes of Christies and Sothebys Property networks, we will be able to provide our readers with outstanding properties for sale”.
The press release hints at more acquisitions? Is that the plan? Are markets like Hong Kong and China a logical next step for you?
“Yes Heart Media will continue to expand and we are looking at more acquisitions, in South East Asia as well as in Hong Kong and China. The team at the helm of Heart Media, Julian Peh and myself, have an extensive experience of these markets, so we are on the lookout for interesting acquisition opportunities that will complement and be coherent with our current portfolio of magazines”.
Heart Media, the Singapore-based publisher of magazines such as Men’s Folio, FORM and World of Watches, was acquired by Burlot earlier this year.