Fast-growing property portal Lamudi this week celebrates its first birthday, with the global real estate network more than doubling in size in six months.
Lamudi, a leading property website focusing on the emerging markets, grew by 116 per cent between April and September this year. The number of listings on the website now totals more than 670,000 properties to buy or rent, spread across 28 countries around the world.As competition over the online property space within the emerging markets has intensified, Lamudi has maintained a leading position within key regions, including Africa.
In Nigeria, Lamudi has grown rapidly over the past year to be become the largest online property portal in terms of number of listings. The company has also focused on education, launching a market leading real estate journal which is now most-read online source of property information in the country.
According to the company, Lamudi was founded on October 13, 2013, by German startup incubator Rocket Internet. The property platform was launched in 16 countries one year ago and has since grown to cover 28 countries across Asia, Africa, the Middle East and Latin America.
Led by Co-Founders Paul Philipp Hermann, Kian Moini and Antonius Salis, it now employs more than 400 staff split between its headquarters in Berlin and local teams in each market.
Global Co-Founder and Managing Director, Paul Philipp Hermann, said: “Our goal from the very beginning has been to deliver a high-quality property portal in markets where searching for real estate online is a relatively new phenomenon. In all those markets we want to establish Lamudi as the market leader”
Allie Morse, CEO Lamudi West and Central Africa said, ‘"We are excited to be the number one portal for property in Africa, only one year after launch, and look forward to growing alongside the continent's real estate sector."
Obi Ejimofo, Managing Director of Lamudi Nigeria, adds, “House-hunters in these regions should not be overlooked; as the internet becomes more widespread, they are seeking out the same services that are already commonplace in more established markets.
Lamudi is innovative because we tackle markets that other property portals have so far ignored. We expect Lamudi’s growth spurt to continue for the remainder of 2014, and beyond.It is for this reason that we believe our product has resonated so strongly with property-seekers around the world.”
More than half the property listings from across the Lamudi network come from its Asian websites, of Pakistan, Bangladesh, Indonesia, the Philippines, Myanmar and Sri Lanka. In April, Lamudi received $US seven million in investment to grow its operations in Asia. The company is now the leading property portal in Bangladesh and Myanmar.
Culled from thisdaylive.com
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