Uganda-based real estate network Lamudi is expanding its broad presence in the MEA region to include additional operations in Qatar, Gabon, Angola and the Republic of Congo, as house-hunters in the emerging markets increasingly embrace online property search platforms.
Kian Moini, co-founder and MD, noted: “Since we launched in late 2013, Lamudi has grown at breathtaking speed. The website is now available in more than 30 countries in the emerging markets, offering house-hunters from Mozambique to Mexico access to over 800,000 global property listings.
“This latest expansion comes after a thorough assessment of the state of the property sectors in the four new countries. In each case, we see thriving real estate industries that are beginning to switch online, creating demand for the high-quality property portal that Lamudi offers.”
In mid-2014, Lamudi also released Android and iOS apps in a bid to meet the growing demand for mobile internet services in developing countries.
In the information sphere, the company released its first research report on emerging market real estate in November, and plans to make the project an annual initiative.
Lamudi is now available in: Angola, Algeria, Bangladesh, Cameroon, Colombia, Democratic Republic of Congo, Ethiopia, Gabon, Ghana, Indonesia, Ivory Coast, Jordan, Kenya, Mauritius, Madagascar, Mexico, Morocco, Mozambique, Myanmar, Nigeria, Pakistan, Peru, Philippines, Qatar, Rwanda, Saudi Arabia, Sri Lanka, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.
In another development for Ugandan interests, Stanbic Bank recently has signed an $85m, 18-month loan with a group of Gulf lenders led by Dubai’s Emirates NBD bank, an oversubscribed facility that will enable trade-related finance in a variety of sectors.
Uganda’s legislature has meanwhile voted to ban domestic workers from travelling to Arab countries following a heated debate coming just months after Saudi Arabia’s Manpower Solutions Company partnered with Uganda’s HAM Property Services to hire two million Ugandans.