Dubai: The Emerging Markets Property Group (EMPG), Zameen.com’s parent company, on Tuesday announced the acquisition of Lamudi Global; which operates popular online businesses in the Philippines, Indonesia and Mexico.
EMPG has emerged as the leading digital classifieds group in the MENA, South Asian and Southeast Asian regions in recent years; with the transnational consortium also having publicised its merger with the OLX Group in South Asia and the Middle East only two weeks ago (raising its asset valuation to USD 1 billion — and thereby consolidating the coveted ‘unicorn’ status). The company had also acquired Thailand’s top online marketplace Kaidee in February; in addition to Lamudi in the Middle East, Pakistan and Bangladesh last year.
While commenting on this development, EMPG CEO Imran Ali Khan said: “We welcome the Lamudi Global teams to the EMPG family. They bring with them a lot of experience and domain knowledge, and we value the people who have been with the business since the beginning. We look forward to working with the team to continue growing the business, and EMPG will provide strategic, technological and financial support as needed.”
He also said that through these acquisitions, EMPG was all set on increasing its focus on Southeast Asia – outside the group’s ‘core’ regions of South Asia, Middle East and North Africa.
“Our aim is to build a strong presence in the region with these acquisitions. Southeast Asia is a bustling, happening market with tremendous potential, and we look forward to providing the best experience to both professionals and consumers,” said Khan.
Lamudi CEO Kian Moini anticipates EMPG’s entrance into these new markets to be a ‘game changer’ for their respective commercial domains. He said: “EMPG has built highly successful businesses in all of its geographies, and the group’s strategic depth and advanced tech are two major assets Lamudi looks forward to as we begin this next phase of our journey.”