Heaptalk, Jakarta — Australian-based online real estate marketplace operator Digital Classifieds Group (DCG) announced the acquisition of online property marketplace Lamudi which operates in Indonesia and the Philippines from the Dubizzle Group, formerly EMPG (10/18).
This measure follows the group’s acquisition of the leading Bangladeshi portal named Bproperty in January 2023. The acquisition aims to drive the group to become the second-largest property portal operator in Asia, as stated on its official page.
With the latest deal, currently DCG operates real estate portals in five high-growth Asian markets, including Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea. Simultaneously, the group’s workforce will also expand to more than 900 staff.
CEO and founder of Lamudi Kian Moini delivered that DCG and Lamudi shared a similar vision for many years in providing the best and most trusted platform to transact property in their respective markets. Moini uttered, “Both companies have delivered on this promise and I’m confident that Lamudi will continue to achieve new highs under DCG. This is an exciting new chapter for Lamudi and our staff.”
Founded in 2013, Lamudi initially focuses on building dominant property classifieds in frontier markets. However, in recent years, the platform has shifted from advertising to a transaction-based business model to accelerate revenue and growth.
Expecting strong growth in Southeast Asia
Meanwhile, the CEO of DCG Mathew Care saw that Lamudi, under the stewardship of the Dubizzle Group and the management team, have created dominant classifieds and transactional property marketplaces in two of Asia’s most exciting market, spanning Indonesia and the Philippines.
“Our vision is to build a market leading classifieds group in South East Asia, a region of incredible opportunities, and this acquisition is a catalyst to delivering this vision. I am incredibly excited to enter these markets and welcome the Lamudi team to the DCG family,” Care said as cited from the group’s official page.
Further, the acquisition marks a major transition for DCG which has expanded over the last 12 months into Bangladesh. Southeast Asia is expected to grow rapidly in the next 5-10 years to become a leading region globally. With portals in countries that can access more than 600 million people, DCG is optimistic that the group will be strongly positioned for growth in the years to come.
