Leading property portal records six-month growth spurt to mark first birthday

Dubai, United Arab Emirates - Tuesday, October 14th 2014 [ME NewsWire]

Fast-growing property portal Lamudi this week celebrates its first birthday, with the global real estate network more than doubling in size in six months.

Lamudi, a leading property website focusing on the emerging markets, grew by 116 percent 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.

As competition over the online property space within the emerging markets has intensified, Lamudi has maintained a leading position within key regions.

Lamudi was founded on October 13, 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.

In the Middle East, Lamudi is the leading real estate portal in Jordan, growing to host 13,000 property listings in just six months. In Saudi Arabia, the number of property listings has jumped four-fold since early 2014. Visits to the bilingual Lamudi Saudi Arabia website have also increased more than 750 percent since February.

Global Co-Founder and Managing Director, Kian 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.

It is for this reason that we believe our product has resonated so strongly with property-seekers around the world. Lamudi is innovative because we tackle markets that other property portals have so far ignored. We expect Lamudi’s growth spurt to continue for the remainder of 2014, and beyond.”

In the past year, Lamudi has undergone significant expansion in each of its markets. Growth in Pakistan has been particularly remarkable. The Lamudi.pk website recently reached 130,000 property listings - up from 10,000 listings last December. In the Middle East, Lamudi is already the leading property portal in Jordan, expanding to 13,000 listings in six months.

In April, Lamudi received $US seven million in investment to grow its operations in Asia. Globally, the company launched both Android and iOS apps during 2014, which have been downloaded about 90,000 times since June.

ABOUT LAMUDI

Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 600,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.

Contacts

Huda Serhan

Group PR Manager

Email: huda.serhan@meih.com

Phone: +971 4 430 1419

Visit Lamudi on Facebook, Twitter, Google+ and LinkedIn

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