The two top companies combined will now have the greatest share of consumers for real estate in the Philippines.
In a move that will strengthen the online real estate market in the Philippines, MyProperty.ph has been acquired by international property portal Lamudi.
The two top companies combined will now have the greatest share of consumers for real estate in the Philippines. However, they will continue to exist as separate brands, and both companies will continue to operate individually. Thus, changes at an operational level will be limited, and the acquisition will result in knowledge sharing between the two businesses and improvements to the overall customer experience for online property-seekers. The deal will accelerate Lamudi Philippines’ and MyProperty’s growth by widening and strengthening both companies relationships within the industry.
“They are two different brands facing different personas,” said Butz de Castro, general manager at MyProperty.Ph.
Kian Moini, Lamudi Global’s Co-founder and Managing Director, said: “By acquiring MyProperty, we are combining the two strongest players in the Philippines to create the go-to destination for both house-hunters to find their new dream home, and for brokers and developers to market their properties online.
This acquisition consolidates the market to improve the value provided to all Lamudi and MyProperty users: that is, house-hunters, real estate brokers, and developers. This added value is in terms of an increase in the number of quality listings by merging the controlled content.”
Established in September 2010, MyProperty.ph is the leading Philippine real estate online and print brand that brings property buyers and sellers together. The website's main offerings are listings of pre-selling properties and properties for sale and for rent. Both website and magazine also provide relevant and updated industry news and information for its clients and consumers. And with the release of its mobile version, finding or selling a home is made even easier.
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 32 countries in Asia, the Middle East, Africa and Latin America, with more than 900,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.