Australian-based Digital Classifieds Group (DCG) has acquired online property marketplace Lamudi’s Indonesia and Philippine businesses from Dubizzle Group.
The deal follows DCG’s acquisition of the leading Bangladeshi portal, Bproperty, in January 2023.
The consolidated group now operates real estate portals in five high-growth Asian markets, Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea and will see its global workforce grow to more than 900 staff.
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Lamudi was founded in 2013, initially focusing on building dominant property classifieds in frontier markets. Over recent years, Lamudi has shifted from advertising to transaction-based business models to accelerate revenue and growth.
DCG Group CEO Mathew Care said: “Lamudi, under the stewardship of the dubizzle Group and the management team, has 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 Southeast Asia, a region of incredible opportunities, and this acquisition is a catalyst for delivering this vision.”
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Southeast Asia is expected to grow strongly in the next five to ten years to become a leading region globally.
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