Lamudi buys myproperty.ph

Since its launch in 2013, Lamudi.com has established itself as a portal specialising in emerging markets around the world. The site now operates in 32 countries, spanning Asia, the Middle East, Africa and Latin America, with over 900,000 real estate listings in total.

Comprising a magazine and an online pressence, MyProperty.ph launched in 2010 and primarily lists pre-selling properties, properties for sale and for rent.

The deal, for an undisclosed amount, will see the two companies extend their reach within the Philippines: combined, they will have the greatest share of consumers within the market. They will continue to operate separately, whoever, with limited operational changes.

"They are two different brands facing different personas," says Butz de Castro, general manager at MyProperty.Ph.

Kian Moini, Lamudi Global’s Co-founder and Managing Director, comments: "By acquiring MyProperty, we are combining the two strongest players in the Philippines to create the go-to destination for both house-hunters to find their new dream home, and for brokers and developers to market their properties online.

"This acquisition consolidates the market to improve the value provided to all Lamudi and MyProperty users: that is, house-hunters, real estate brokers, and developers. This added value is in terms of an increase in the number of quality listings by merging the controlled content."