Friday, June 14, 2024

Real estate portal Lamudi reports growth spurt after 1 year

Real estate property portal Lamudi reported that it has more than doubled its size after being in operations for a year. The company said the 6-month growth spurt was triggered by a 116-percent growth 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.

More than half the property listings from across the Lamudi network come from its Asian websites, namely Pakistan, Bangladesh, Indonesia, the Philippines, Myanmar and Sri Lanka.

In April, Lamudi received $7 million in investment to grow its operations in Asia. The company is now the leading property portal in Bangladesh and the Philippines.

Lamudi was founded in October 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, Lamudi now employs 400 staff split between its headquarters in Berlin and local teams in each market.

Moini 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. House-hunters in these regions should not be underestimated; 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.?

In the past year, growth in Pakistan has been particularly remarkable.

The website recently hit 130,000 property listings, up from just 10,000 listings last December. Similar growth has been registered in Indonesia, where Lamudi has opened three local offices and grown to host 110,000 listings in just six months. In Sri Lanka, the team has signed more than 200 clients and reached 9,000 listings since May.

Globally, Lamudi launched both Android and iOS apps in 2014, which have been downloaded about 90,000 times since June.


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