Lahore: Emerging Markets Property Group (EMPG), the parent company of Pakistan’s top property portal Zameen.com, on Wednesday publicised its acquisition of Kaidee – Thailand’s largest online marketplace; further notifying the closure of the deal in February this year.
Kaidee, founded in 2011 and headquartered in Bangkok, rapidly gained recognition as one of the leading online marketplace platforms of Thailand in the years since its inception. The portal offers over 30 categories of goods and services available for instant ordering and fetches considerable web traffic on a routine basis.
EMPG is regarded as the leading digital property consortium in the Middle East and North Africa (MENA) and South Asia 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 — with its recent Kaidee consolidation definitively marking its foray into the online transactions marketplace proper.
Commenting on the acquisition, Chief Executive Officer (CEO) EMPG Imran Ali Khan, who also now numbers among Kaidee’s board of directors, remarked that the group’s approach to the digital marketplace was both locally targeted and consumer-driven.
“Thailand is one of the most exciting, dynamic markets in Southeast Asia, and its real estate and auto verticals are some of the largest in the region,” said Imran. “Kaidee has a rich history in Thailand and has built a very strong brand on the back of extraordinary focus on technology and connecting consumers, and we look forward to investing significant resources to take the business to the next level,” he added.
Co-Founder EMPG and CEO Zameen.com Zeeshan Ali Khan has welcomed Kaidee to the group and expressed good wishes for its future. He said: “EMPG is a rapidly growing family, and we are happy to see Thailand’s largest market join its ranks. This acquisition comes with a number of opportunities to learn and grow for both parties, and capitalizing on them will be very important. We look forward to entering the broader dynamics of the market and, in turn, we hope to impart significant experience on the vertical real estate side.”
When asked for his take, CEO Kaidee Tiwa York expressed hope that this acquisition would pave the way for the company to provide top solutions in all market verticals across Thailand.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
Very good!