Bproperty.com, the leading real estate marketplace in Bangladesh that is owned by Dubai-based Emerging Markets Property Group, has acquired Rocket Internet’s Lamudi Bangladesh, the company announced last month.
Emerging Markets Property Group is the company that owns and runs Dubai-based Bayut.com, Pakistan’s Zameen.com and Moroccan property portal Mubawab. The company has recently (around the time of acquisition) closed $100 million in Series D funding taking its total funding raised so far to $160 million.
Bproperty.com’s CEO Mark Nosworthy in a statement said that the move was aimed at strengthening and consolidating bproperty.com’s position within the country’s real estate sector.
“This is a milestone in the real estate market in Bangladesh. Bproperty’s complete real estate solution gives consumers advice, expertise as well as the market transparency they require in order to make the right decision when it comes to engaging with the real estate industry,”
Lamudi had expanded to Bangladesh in 2013 and remained the market leader for the first few years before losing its top position to Brpoperty.com that had entered the market in 2016.
In another statement yesterday, Bproperty.com has announced that it has received a $10 million investment from its parent company EMPG to invest in Bangladesh.
“We are excited to have secured this investment and we have full intentions to build a world-class real estate solution for Bangladesh, ensuring that all Bangladeshi’s have access to the information and advice they require in order to making the right property decision,” said CEO of Bproperty.com Mark Nosworthy.
“This investment allows us to strengthen our current services and provide new innovative services to help raise the bar for the entire real estate industry,” he added.