Lamudi Acquires OLX's Real Estate Business

TheIndonesia.id - Online marketplace focusing on real estate Lamudi.co.id has announced the acquisition of OLX’s real estate business as it aims to become the leading player in the industry.

As reported by Antara, Lamudi.co.id CEO Mart Polman said the acquisition is a crucial step for the company to further serve their customers in finding properties.

“The acquisition is a golden opportunity to improve our service for our Indonesian customers, especially in providing a wide range of options of properties that are suitable for each person,” he said in a statement on Tuesday, January 11.

Similarly, CEO of OLX Group Indonesia Johnny Widodo also expressed the optimism that the consolidation will contribute to the ease of finding property for Indonesians.

“We’re proud of the growth of OLX Indonesia’s property business that has been trusted by millions of users, and we believe the business will grow even more. Lamudi.co.id will help the journey to find property for all customers in Indonesia,” Widodo revealed, adding that that all interface and operations will run as usual without any changes, including on other business units under OLX Indonesia.

Lamudi Group is part of the Emerging Markets Property Group (EMPG) which is based in the United Arab Emirates (UAE). EMPG became a unicorn in 2020 after acquiring assets from OLX Group in Middle East and Pakistan and after receiving capital injection from OLX Group and other stakeholders.

Upon the acquisition of OLX Indonesia’s real estate business, Lamudi.co.id now has more than 4.5 million unique visitors and 600,000 new listings every months.

Started its business in Indonesia in 2014, Lamudi.co.id currently has more than 700 employees, and it’s predicted to employ more as business expansion in Indonesia will continue.