We are pleased to announce that the parent company of Zameen.com, Emerging Markets Property Group (EMPG), has acquired Lamudi Global – a transnational venture with business interests in the Philippines, Indonesia and Mexico.
The acquisition of Lamudi Global was consolidated prior to EMPG’s merger with the OLX Group (which granted EMPG the coveted ‘unicorn’ status by raising its valuation to USD 1 billion) last week. Recently, EMPG also announced its acquisition of Thailand’s popular digital marketplace ‘Kaidee’.
EMPG, through its varied, locally-focused operational pursuits and platform acquisitions, has earned its reputation as the leading digital classifieds groups operating in the Middle East and North Africa (MENA), South Asia, and Southeast Asian regions. Aside from Zameen.com in Pakistan, the group operates and runs several leading online real estate portals such as Bayut in the United Arab Emirates, Jordan and Saudi Arabia; Bproperty in Bangladesh; and Mubawab in Morocco, Algeria and Tunisia.
Founded in 2013, Lamudi is a renowned online real estate platform that focuses on providing property solutions in emerging markets. The total annual worth of real estate transactions in its three countries of operation is estimated to figure in the range of USD 55.1 billion, with its realtors enjoying a commission pool in excess of USD 2.3 billion.
CEO EMPG Imran Ali Khan has welcomed the new addition to the group and expressed hope that EMPG’s and Lamudi’s combined resources would help the former in broadening its reach. He also highlighted EMPG’s intent to increase its focus on Southeast Asia - in addition to what are termed its ‘core’ locations. He opined that Southeast Asia comprises a ‘bustling, robust market with great potential’, and that EMPG looks forward to offering the best digital market experiences to both professionals and consumers.
