Rocket Internet’s Lamudi acquires PropertyKita in Indonesia

Rocket Internet’s property portal Lamudi announced last week it acquired PropertyKita in Indonesia for an undisclosed amount. The acquisition was a play to strengthen the growing online real estate industry in the archipelago, says Lamudi. Following the merger, PropertyKita’s web traffic will now be redirected to Lamudi Indonesia, and the company will continue to build itself out in the local online property market.

The goal of the acquisition is also to improve the overall customer experience for online property-seekers in the country. “This acquisition brings together two players in this market to improve the value and experience for house-hunters, real estate agents, and developers,” says Kian Moini, co-founder and managing director of Lamudi Global. “We are committed to investing in building the number one, go-to online property platform in Indonesia, making people happy that we are investing in their country.”

Build it and they will come

With capacity for strong economic growth in the long-term, Indonesia’s real estate industry has an abundance of opportunities. With the country’s fast-growing and tech-savvy middle class, the country has potential to become one of the world’s biggest online markets.

See: Property marketplace Rumah: we’re number one in Indonesia

Lamudi Indonesia, which launched in April 2014, currently has more than 210,000 properties and plots of land to buy or rent in over 240 cities. According to a Lamudi statement, PropertyKita has upward of 100,000 listings for properties and developments across the country.

Lamudi covers more than 30 countries in Asia, Africa, the Middle East, and Latin America. Across the global network there are currently more than 900,000 residential and commercial property listings, according to the company’s latest data. In Indonesia, Lamudi competes with local players like Rumah, Rumah123, RumahDijual, and UrbanIndo.

In February this year, Lamudi raised US$18 million to grow its operations in emerging markets like Indonesia.

This announcement comes three weeks after Lamudi’s acquisition of Myproperty in the Philippines.

Editing by Steven Millward; featured image by Roderick Eime.