Digital Classifieds Group (DCG), an Australian company, recently confirmed that it had purchased the Lamudi assets from the dubizzle Group (formerly EMPG), including the online real estate marketplaces in Indonesia and the Philippines.
The deal, according to a statement released by DCG on Monday, comes after DCG bought the top Bangladeshi property portal, Bproperty, in January 2023, and will help the company become the second-largest property portal operator in Asia.
With the consolidation of its business, the combined group now runs prominent real estate portals in five fast-growing Asian markets, including Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea. Additionally, the combined group’s global workforce will increase to over 900 people.
Lamudi was established in 2013 with the goal of creating market-leading real estate classifieds in emerging markets; however, in recent years, they have switched from advertising to transaction-based business models to boost revenue and growth.
“DCG and Lamudi have shared a similar vision for many years; to provide the best and most trusted platform to transact property in their respective markets,
“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,” said Kian Moini, Lamudi Chief Executive Officer and Founder.
After rapidly expanding into Bangladesh over the previous 12 months and now into Indonesia and the Philippines, the acquisition represents a significant turning point for DCG.
South East Asia is predicted by DCG to experience rapid growth over the next five to ten years and emerge as a major global region.
According to DCG, it is well-positioned for growth in the upcoming years due to market-leading portals that have access to more than 600 million people in countries.
“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 markets: 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,” DCG Group Chief Executive Officer Mathew Care said.
