New international property portal launches in 12 countries

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Rocket Internet, a German-based Internet tech incubator, has consolidated its real estate listing portals from 12 countries in Asia, the Middle East, Africa and Latin America into one emerging markets-focused real estate marketplace: Lamudi.

The listing sites now part of Lamudi, which features homes, apartments, condos, land and commercial properties for sale or rent, include: Vamido in Nigeria, Ubilista in Mexico, and Asian-focused Zamudi and House. The site has listings in Algeria, Bangladesh, Colombia, Kenya, Mexico, Morocco, Myanmar, Nigeria, Pakistan, Saudi Arabia, Tunisia and Uganda.

Rocket Internet has a track record of launching companies in markets with no competition to test the waters for expansion or acquisition, according to TechCrunch. Trulia, with its follow-on offering of stock in March that raised $114 million it said would be used in part for acquisitions, including those companies that facilitate “international expansion,” could be a suitor in the future, the publication pointed out.

Source: TechCrunch