Rocket Internet’s Lamudi acquires Indonesian realty portal PropertyKita

Visual from Lamudi's social media page

Rocket Internet’s property portal Lamudi announced that it had acquired PropertyKita in Indonesia for an undisclosed amount.

“Following the merger, traffic from Propertykita will be merged with Lamudi Indonesia, as Lamudi continues to grow in Indonesia’s thriving online property market, the company said in a statement.

Lamudi said the acquisition was aimed at improving the overall customer experience for online property-seekers in Indonesia, and the deal comes within three weeks of the acquisition of Myproperty in the Philippines.

Also Read: Global property portal Lamudi acquires PH real estate brand MyProperty.ph

“This acquisition brings together two players in this market to improve the value and experience for house-hunters, real estate agents, and developers,” said Kian Moini, co-founder and managing director of Lamudi Global.

“We are committed to investing in building the number one, go-to online property platform in Indonesia, making people happy that we are investing in their country,” Moini added.

In Indonesia, Lamudi competes with local players like Rumah, Rumah123 and Urbanindo.

In February this year, Lamudi raised $18 million to grow its operations in emerging markets like Indonesia. This announcement comes three weeks after Lamudi’s acquisition of Myproperty in the Philippines.

Paul Philipp Hermann, co-founder and managing director, Lamudi Global said, “With the capacity for strong economic growth in the long-term, Indonesia’s real estate industry has an abundance of opportunities. With the country’s tech-savvy, growing middle-class, the country has the potential to become one of the world’s biggest online markets.”

With capacity for strong economic growth in the long-term, Indonesia’s real estate industry present an abundance of opportunities. With the country’s fast-growing and tech-savvy middle class, the country has potential to become one of the world’s biggest online markets.

Lamudi Indonesia,which launched in April 2014, currently has more than 210,000 properties and plots of land to buy or rent in over 240 cities. According to a Lamudi statement, PropertyKita has upward of 100,000 listings for properties and developments across the country.

Lamudi covers more than 30 countries in Asia, Africa, the Middle East, and Latin America. Across the global network there are currently more than 900,000 residential and commercial property listings, according to the company’s latest data.

Related stories:

Rocket Internet merges e-commerce biz Lamido with Lazada

Rocket Internet leads Series A funding round in Indonesia’s Bridestory

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.