International property portal Lamudi has announced the acquisition of Propertykita.com, in a move to strengthen the growing online real estate industry in Indonesia.
Following the merger, traffic from Propertykita.com will be merged with Lamudi Indonesia, as Lamudi continues to grow in Indonesia’s thriving online property market. The acquisition will result in an overall improved customer experience for online property-seekers.
Kian Moini, Lamudi Global’s Co-founder and Managing Director, said: “Lamudi is continuing to strive to provide its customers and clients with the best possible service. This acquisition brings together two players in this market to improve the value and experience for house-hunters, real estate agents and developers.
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.”
Lamudi Indonesia is part of the global Lamudi network, which includes more than 30 countries across Asia, Africa, the Middle East and Latin America. Across the global network there is currently more than 900,000 residential and commercial property listings.
The company has seen impressive growth since its launch in October 2013. Lamudi is now market leader in a number of markets, including Bangladesh, the Philippines, Jordan, Saudi Arabia, and Myanmar, and has over 1.4 million Facebook followers worldwide.
In February this year, Lamudi raised EUR 16 million ($18 million) in investment to grow its operations in Asia and Latin America, including Indonesia. The investment will be used to improve the product on both desktop and Lamudi’s mobile application, available on both Android and iOS.
“From increased purchasing power as the middle class grows, to infrastructure development, we are experiencing impressive growth in the real estate sector in the emerging markets. We are committed to investing in building the number one, go-to online property platform, making people happy that we are investing in their country,” Moini said.
This announcement comes three weeks after Lamudi’s acquisition of myproperty.ph in the Philippines.