Lamudi Pakistan Announces Half-Year Results for 2016
KARACHI: Lamudi today announced its half-year results for 2016, showing good performance underpinning strong business growth.
30 May 2016
- 99 percent increase in paid clients
- 104 percent rise in website traffic
- 87% net revenue growth
Lamudi marked its best half-year performance ever, with net revenue up 87 percent compared to 2015. More importantly, for an online property platform they observed a record-setting increase in the number of paid clients using the website. They recorded a jump of 99 percent in the number of agents and developers signed up in 2016.
“Despite a weak economic outlook in many parts of the world we have managed to grow our business beyond expectations,” said Saad Arshed, managing director of Lamudi Pakistan. Lamudi is reporting it’s best ever first-half growth figures and this speaks to the strength of our underlying business,” said Arshed.
In addition to strong revenue growth, Lamudi announced a 104 percent increase in website visitors in the period to May 2016. “This is an important metric for us, if people like our product, they return and they tell their friends, seeing such a large increase in website traffic means we are on the right track,” Arshed went on to say.
Lamudi — is unique in that it offers a full range of properties to buy or rent, from affordable studios to large-scale commercial buildings. Some months ago they introduced the Lamudi Real Estate App, which has made searching for property a much more convenient undertaking. “Our app means that as an agent you can list a property in just a few clicks and have it sold by the end of the day while for buyers it opens up the possibility of browsing through thousands of properties on the go,” said Arshed.
Having received $31.4 million in funding earlier this year, Lamudi has its sights on taking the top spot in the competitive Pakistan real estate market. With rapidly increasing website visitors, multiplying paid clients, and strong revenue growth Lamudi is fast becoming the choice for online property portals in Pakistan.