Cambodia Investment Review

Digital Classifieds Group, Parent Company of Realestate.com.kh, Expands Footprint with Lamudi Acquisition

Digital Classifieds Group, Parent Company of Realestate.com.kh, Expands Footprint with Lamudi Acquisition

Cambodia Investment Review

Australian-based Digital Classifieds Group (DCG), the parent company of Cambodia’s leading property platform Realestate.com.kh, has confirmed its acquisition of significant property portal assets in Indonesia and the Philippines from Lamudi, a part of the Dubizzle Group. This move, along with DCG’s purchase of Bangladesh’s leading real estate marketplace Bproperty in January 2023, has positioned the group as Asia’s second-largest property portal operator.

Read more: Tanncam Investment buys stake in realestate.com.kh and Fazwaz (Cambodia)

Founded in 2013, Lamudi initially aimed at establishing dominant property classifieds in emerging markets. Over the years, much like Realestate.com.kh, Lamudi transitioned from an advertising-centric model to a transaction-based approach, bolstering revenue and growth. The acquisition means that the enlarged DCG entity now operates leading property platforms in six high-growth Southeast Asian markets, namely Cambodia, the Philippines, Bangladesh, Indonesia, Laos, and Papua New Guinea. Collectively, DCG now serves a market of 600 million people, boasting 16 million monthly website visits, 13 million social media followers, and a workforce of over 900 employees.

DCG’s Geographic Coverage of The Real Estate Market Expanded Exponentially

Anthony Galliano, a board member of DCG and the Director of Tanncam Investment, conveyed his optimism about the acquisition. “This is a game-changer for our business. DCG’s geographic coverage of the real estate market expanded exponentially,” Galliano said. He emphasized that while the group has seen exceptional organic growth, the board realized that strategic acquisitions like this would significantly enhance the company’s growth trajectory. “Tanncam Investment fully supports its investment in DCG and commends the Board for its work on this strategic acquisition, which positions the company as a market leader in its space,” he added.

Tom O’Sullivan, the CEO of Realestate.com.kh, also expressed his enthusiasm for the potential that the acquisition brings. “I’m incredibly excited about the opportunities this acquisition brings. Lamudi has a range of technologies and systems that will enhance our offering to agents and property seekers,” he stated. O’Sullivan further noted that Lamudi’s significant presence in Indonesia and the Philippines could bring additional exposure for their clients. “For our staff, our ability to share knowledge and exchange ideas with the other classified businesses in the DCG portfolio means we will remain a driving force in Cambodia and the region,” he added.

The Region to Become a Global Leader In The Next Decade

The group is bullish on the growth prospects in Southeast Asia, expecting the region to become a global leader in the next decade. As part of its expansion strategy, DCG is also considering a potential listing on the Australian Stock Exchange (ASX) within the next 18 months.

Group CEO Mathew Care underscored the strategic importance of the acquisition. “Our vision is to build a market-leading classifieds group in Southeast Asia, a region of incredible opportunities. This acquisition is a catalyst for delivering this vision, and I am incredibly excited to enter these markets and welcome the Lamudi team to the DCG family,” he said.

With this acquisition, DCG has significantly extended its influence in the fast-growing real estate markets of Southeast Asia, further solidifying its position as a key player in the region’s digital landscape.

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