Updated on: May 15, 2024, 3:58 a.m.
Published on: October 20, 2023, 6:16 a.m.

Realestate.com.kh Welcomes Lamudi Indonesia and the Philippines to the DCG Family

Phnom Penh, Cambodia – We are pleased to announce that Digital Classifieds Group (DCG), the parent company of Realestate.com.kh, has successfully acquired the leading online property platform marketplaces ‘Lamudi’ in Indonesia and the Philippines, consolidating its position as a major player in the Southeast Asian real estate market.

Lamudi was established in 2013, with its primary focus initially being the development of leading property classifieds in emerging markets. In recent years, much like realestate.com.kh, the company transitioned from an advertising-based approach to transaction-based business models, creating more opportunities for our clients by aligning with their goals. The acquisition of Lamudi's assets from the Dubizzle Group, formerly known as the Emerging Markets Property Group, and the purchase of Bangladesh's top real estate platform, Bproperty, in January 2023, solidifies the group's position as the second-largest property portal operator in Asia.

Tom O'Sullivan, CEO of realestate.com.kh, said "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. Plus Lamudi's massive reach into Indonesia and the Philippines will drive huge additional exposure for our clients. Indonesia is the fourth most populous country in the world, and the Philippines has a population of roughly 117 million people, making this a game changer for property developers in Cambodia to access even more buyers through realestate.com.kh than ever before. Cambodia and Indonesia built a strong relationship over the years through trade and politics. The IndoCham is well-established in Cambodia, and the addition of direct flights between both countries makes it more convenient for Indonesians to visit the Kingdom, and consider investing in the property market. For our staff, our ability to share knowledge and exchange ideas with the other classified businesses in the DGC portfolio means we will remain a driving force in Cambodia and the region."

Anthony Galliano, DCG Board member and the Director of Tanncam Investment, expressed his enthusiasm, saying “This is a game-changer for our business. DCG’s geographic coverage of the real estate market expanded exponentially and the group is now on track to becoming the leading property platform in Southeast Asia. While organic growth has been phenomenal, the Board recognised that targeted acquisitions will accelerate our growth and expansion ambitions and dramatically improve value to our customers and shareholders. 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.”

DCG's Group CEO, Mathew Care, expressed his vision, saying, "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.