“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.
“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 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.