Property giant acquires

3 January 2019 - 96   - 0

Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal, firmly establishing the company as the dominant portal in the country. 
The acquisition includes the domain and all its listings, plus the local operations of Lamudi Sri Lanka, LankaPropertyWeb said in a public announcement on Thursday.
With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved service for property buyers, sellers, renters, real estate agents, and alike. With the combined listings of the two sites, LankaPropertyWeb will now host the largest collection of Sri Lankan property listings and be the de facto website for anyone searching for property in the country. 
“With the exponential growth we have experienced over the past decade, this acquisition is only a natural move. Our intent is to create a single destination for all things property in Sri Lanka and this acquisition helps us achieve that vision,” said Daham Gunaratna, Founder and Managing Director of LankaPropertyWeb. 
“Our prime motive is to help property seekers find their property fast and for property sellers and landlords to find buyers and tenants quickly with minimum cost. This is what we have been doing successfully for the past 12 years and will continue to enhance in future. This acquisition now means all agents, developers and individuals who advertise with us are now able to receive more leads and buyers and renters have more options to choose from,” Mr. Gunaratna added.
With the combination of the listings and visits, LankaPropertyWeb will have over 25,000 listed properties, over half a million visits a month and over 70,000 leads a month for advertisers. LankaPropertyWeb saw a 61 per cent increase in the number of leads generated between the previous two years and 54 per cent of advertises stated that they sold or rented their properties through LankaPropertyWeb which is statistical proof of the site’s effectiveness.
2018 saw the significant expansion of LankaPropertyWeb’s products with the launch of two new products. “Buyer & Seller Assistance” now provides advisory, legal and documentation work that entails buying or selling a property making the property transaction as hassle free as possible. “Ideal Home” – a portal aimed at giving users access to all products, services and advisory for building and decorating a home was also launched in Q4. The year also culminated in LankaPropertyWeb winning the award for the ‘Best Digital Integrated Campaign’ for Professional Services category at the SLT Zero-One awards, the statement said. 
“In 2019, LankaPropertyWeb is expected to see a significant growth through the facilitation of sales and marketing of new developments by giving developers’ projects the best visibility both locally and with international investors and expats through partnerships, overseas events and with the website’s natural international reach. Enhancing the product to provide more tools and facilities for property seekers and sellers to easily list and find property will also be a key focus this year. LankaPropertyWeb’s latest acquisition is expected to bring more value for advertisers of both sites as the combined visitor base will add more visibility for the ads and property seekers will benefit with the combined ads collection giving them more choices,” it said. -ENDS -


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