DCG Acquires Lamudi in Indonesia and Philippines

Digital Classifieds Group (DCG), a prominent Australia-based enterprise, has recently solidified its position in the Asian property market with the acquisition of Lamudi's online property marketplaces in Indonesia and the Philippines from the dubizzle Group (formerly EMPG). This strategic move comes hot on the heels of DCG's earlier acquisition of Bproperty, a leading Bangladeshi portal, in January 2023, propelling the conglomerate to secure its standing as Asia's second-largest property portal operator.

The group's expanded portfolio now encompasses the operation of premier real estate portals across five rapidly developing Asian markets, including Indonesia, the Philippines, Bangladesh, Cambodia, and Papua New Guinea, with a workforce exceeding 900 employees worldwide.

Established in 2013, Lamudi initially directed its efforts toward establishing dominant property classifieds in frontier markets, subsequently transitioning to transaction-based business models in recent years to drive accelerated revenue and growth. The successful acquisition by DCG marks a pivotal moment for both entities, reflecting a shared vision centered on providing the best and most trustworthy platform for property transactions within their respective markets.

Kian Moini, Lamudi's Chief Executive Officer and Founder, expressed confidence in the exciting new chapter for Lamudi and its staff under DCG's guidance, emphasizing the alignment of vision and values that have been instrumental in the success of both companies.

DCG's recent expansion into Bangladesh, followed by the latest acquisitions in Indonesia and the Philippines, marks a significant milestone for the company. The conglomerate anticipates robust growth prospects in the Southeast Asian region over the next five to ten years, positioning itself to capitalize on the region's anticipated trajectory of becoming a global leader.

With dominant portals catering to an extensive population exceeding 600 million people across various countries, DCG is strategically positioned for substantial growth in the foreseeable future. The vision to establish a leading classifieds group in Southeast Asia has been reaffirmed by DCG's Group Chief Executive Officer, Mathew Care, who expressed enthusiasm in welcoming the Lamudi team to the DCG family, envisioning this acquisition as a pivotal step in realizing their ambitious business objectives in the dynamic Southeast Asian market.