Bproperty.com, a real estate marketplace, has recently acquired another property portal, Lamudi.com.bd. The purchase is suspected to give bproperty.com a leg up on the competition.
Mark Nosworthy, CEO of bproperty.com, confirmed the deal but declined to reveal the amount they paid. “We are not disclosing the amount under confidentiality with Lamudi Bangladesh.”
Nosworthy's company is scheduled to hold a press conference to disclose the new development alongside business plans.
Bproperty.com is a new kind of business venture that provides all legal and banking support to the purchasers and gives marketing support to the real estate and land developers in a single place.
It is a part of Emerging Markets Property Group (EMPG), which also owns top UAE property portal bayut.com and Pakistan's largest property portal Zameen.com.
The business runs in Bangladesh under a commission model, which is about 5 percent based on the property's location, utility services and urbanization.
Nosworthy, also chief financial officer of the EMPG, told The Daily Star that they had a complete view of the real estate market.
He said they are very committed to improving Bangladesh's real estate industry and could work for mutual benefit.
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