Wednesday, May 28, 2014

Lamudi: Fast-Growing Property Portal Expands Operations in Sri Lanka

Wazzup Pilipinas!

Lamudi, one of the leading real estate players and a global property portal operating exclusively in emerging markets, is expanding its presence in Asia, with the platform launching in Sri Lanka this week. It is now available in seven new markets across Asia, the Middle East and Africa, with launches also announced recently for Jordan, the Ivory Coast, Mozambique, Madagascar, Mauritius and Zimbabwe. This brings the number of countries where the platform is available to 28.

Co-Founder and Managing Director, Paul Philipp Hermann, said: “Countries like Sri Lanka have the perfect trifecta for online property: each has a strong real estate market, growing rate of internet usage, and a young and vibrant demographic.

We are expanding our presence in Asia because, quite simply, we could see a demand that was not being met. As more people in each of these markets switch online, they want to have access to the same resources that are available elsewhere.

Whether its buying a house in Sri Lanka or renting an apartment in Jordan, Lamudi is helping to meet the growing demand for e-commerce in emerging markets.”

Wilhelm Hammes, Managing Director of Lamudi Sri Lanka said: “Now is the perfect time to be entering the Sri Lankan market. The property sector has seen significant growth since 2009, as infrastructure has improved and investors have come back. We want to be there to grow alongside this thriving industry.”

Lamudi is already on track to being the number one real estate marketplace in the region. Launched just six months ago, the company now offers 340,000 property listings worldwide across its platforms. The company benefits from the resources and local know-how of teams in each of its countries, with support from global headquarters in Berlin.

In Asia, Lamudi is already market leader in two countries, Bangladesh and Myanmar. The company recently announced $7 million USD in investment for its Asian operations, including funds from the investment arm of international multi-sector retailer Tengelmann Group.

Founded in 2013, Lamudi is now operating in Algeria, Bangladesh, Cameroon, Colombia, Ethiopia, Ghana, Indonesia, Ivory Coast, Jordan, Kenya, Mauritius, Madagascar, Mexico, Morocco, Mozambique, Myanmar, Nigeria, Pakistan, Peru, Philippines, Rwanda, Saudi Arabia, Sri Lanka, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.

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