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Dhaka Tribune

Lamudi to invest in Asian ventures

Update : 19 Apr 2014, 08:14 PM

Lamudi.com, an online marketplace for real estate, yesterday announced investing  $7m as part of a plan to expand for their footprint in Asian ventures.

Kian Moini, global managing director of the company, is currently in Dhaka for a short visit from Germany as he discussed future plan in Bangladesh, says the company in a communication.

The real-estate marketplace offers sellers, buyers, landlords and renters a platform to find homes, land and commercial properties online.

During the starting of the year, the global company had 100,000 listings across its market and doubled to 200,000 listings as of this month.

The company last week agreed to disburse $7m fund for its Asian ventures – Myanmar, Indonesia, Philippines, Pakistan and Bangladesh, the company said in its web posting.

Lamudi.com.bd is a venture of internet incubator Rocket Internet which was established in 2007 and the venture currently exists in markets of 21 countries.

Lamudi aims to increase economic empowerment of the country by reaching to the non-residential Bangladeshis and for rapid urbanisation, said David Zwagemaker, managing director of lamudi.com.bd said yesterday.

Commenting on the funding, in a statement, Paul Philipp Hermann, co-founder at Lamudi, added: “The announcement of this substantial funding for our Asian operations is very welcome and will be crucial in helping us to make better and faster progress towards our goal of becoming the market leader in online property in Asia.”

The company’s website for the Bangladeshi customers are one of the top 500 most visited website based on the performance during the last three months, according to Alexa, a website rating company. Currently more than 8,600 individual properties are listed at the site while 353 real estate companies are hosting their properties with lamudi.com.bd, all of which are RAJUK approved and varied by Lamudi.com.bd quality assurance team.

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