‘Significant’ growth for SL property sector since 2009
View(s):The Sri Lankan property sector has experienced “significant” growth since 2009. This is a result of improvements in infrastructure, along with investors having come back, according to Wilhelm Hammes, Managing Director of Lamudi Sri Lanka (lamudi.lk), an onlne real estate portal that boasts 340,000 listings worldwide.
Lamudi announced in a media release this week that it was expanding into Asia and, as a consequence, launched operations in Sri Lanka recently. Founded in 2013, this emerging markets focused platform is in 28 countries spanning the Asia, Africa and the Middle East. It also revealed that US$ 7 million had been earmarked for its Asian expansion, and that it was already the market leader in Bangladesh and Myanmar.
Lamudi is also currently present in Algeria, Cameroon, Colombia, Ethiopia, Ghana, Indonesia, Ivory Coast, Jordan, Kenya, Mauritius, Madagascar, Mexico, Morocco, Mozambique, Nigeria, Pakistan, Peru, Philippines, Rwanda, Saudi Arabia, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe.
“Countries like Sri Lanka have the perfect trifecta for online property: each has a strong real estate market, growing rate of Internet usage, and a young and vibrant demographic. We are expanding our presence in Asia because, quite simply, we could see a demand that was not being met. As more people in each of these markets switch online, they want to have access to the same resources that are available elsewhere.
Whether its buying a house in Sri Lanka or renting an apartment in Jordan, Lamudi is helping to meet the growing demand for e-commerce in emerging markets”, added Paul Philipp Hermann, the company’s Co-Founder and Managing Director.