Lamudi to invest $1.6mln in Bangladesh

Lamudi.com, an online real estate marketplace, has announced to pump in US$1.6 million new investment in its Bangladesh venture.

Its Global Managing Director Kian Moini said at a press conference on Saturday it has received $7 million for its Asian ventures.

He said that lamudi.com.bd will become market leader in Bangladesh within next 12 months.

Lamudi.com.bd is a venture of internet incubator Rocket Internet which was established in 2007. It is headquartered in Berlin. It has 170 ventures in 40 countries.

Managing Director David Zwagemaker said, “We’re in Bangladesh because of increasing economic empowerment of the country, to reach to the non-residential Bangladeshis and for rapid urbanisation.”

Senior Marketing Communication Executive Riaz Mahmud said that Bangladesh portion of the investment would be $1.6 million.

Managing Director David Zwagemaker said that right now 353 real estate companies were hosting their properties with lamudi.com.bd and a total of 8600+ individual properties are at present listed in lamudi.com.bd - all approved by the RAJUK (Rajdhani Unnayan Kartripakkha) and verified by lamudi.com.bd quality assurance team.

The lamudi.com has a global Alexa ranking of 54,177 where as Lamudi.com.bd has a global ranking of 78,178 and rank 481 in Bangladesh.