EMPG, a top digital classifieds group has acquired Lamudi Global with businesses in Philippines, Indonesia and Mexico, aiming to expand into SEA. The group has noted that this acquisition took place before merging with the OLX Group’s businesses in MENA last week which raised EMPG’s value to USD 1 Billion.
EMPG is one of the leading groups owning and operating online marketplaces in in the MENA, South Asia and now, Southeast Asia regions. These include Bayut in the UAE, Saudi Arabia and Jordan, Zameen in Pakistan, Bproperty.com in Bangladesh, and Mubawab in Morocco and Tunisia, alongside Kaidee.
Their drive to expand rises as their momentum pushes them further. EMPG’s merging with OLX in MENA valued EMPG at an estimated USD 1,000,000,000. As such, they now also own and operate mainly Dubizzle in the UAE, OLX Pakistan, OLX Egypt and OLX Lebanon. These is aside the other OLX platforms in the GCC now under their management.
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Lamudi Global is their latest acquisition. Lamudi was founded in 2013 as an online property platform based on emerging markets. EMPG is going strong in their intent to capture SEA interest as well. After 7 years, Lamudi is now currently a well-recognized brand and a well-established player in Philippines, Indonesia and Mexico. Moreover, the groups have had dealings together in the past. EMPG had already acquired Lamudi’s Middle East, Pakistan and Bangladesh businesses last year.
Lamudi looks forward to raising the bar for online marketplaces with EMPG. Currently, the combined total of real estate transactions in the Philippines, Indonesia, and Mexico is estimated to be USD 55.1 billion per year. There’s also good tidings ahead with a potential commission pool of over US $2.3 billion for real estate professionals. This is no surprise. After all, the three countries’ amounts to almost half a billion people.
Learn more about EMPG on their Official Website.
Featured image from EMPG
