Australian firm Digital Classifieds Group (DCG) has acquired online property platforms in Indonesia and the Philippines by taking over Lamudi assets from the dubizzle Group. This move follows DCG’s previous acquisition of Bproperty, Bangladesh’s top portal, in January 2023.
The acquisition cements DCG’s position as Asia’s second-largest property portal operator, expanding its reach across five rapidly growing Asian markets: Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea, and increasing its global workforce to over 900 employees.
Lamudi, established in 2013, has transitioned from an advertising model to a transactional model, fueling revenue growth. Kian Moini, Lamudi’s CEO, expressed enthusiasm about the acquisition and the aligned vision of both companies.
DCG Group CEO, Mathew Care, highlighted Lamudi’s successful establishment of dominant marketplaces in Indonesia and the Philippines and shared his excitement about the future.
This acquisition is part of DCG’s strategic expansion in South East Asia, a region projected to experience significant growth over the next decade. With a presence in countries reaching over 600 million individuals, DCG is well-positioned for further growth.