buys | Sunday Observer buys

Property portal, LankaPropertyWeb, has purchased The purchase includes the domain and all its listings, and the local operations of Lamudi Sri Lanka.

LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved service for property buyers, sellers, renters and real estate agents.

With the combined listings of the two sites, LankaPropertyWeb will host the largest collection of Sri Lankan property listings and be the website for anyone searching for property in the country.

LankaPropertyWeb Founder and Managing Director Daham Gunaratna said, “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 property related things in Sri Lanka. This acquisition helps us achieve that vision.”

“Our prime objective 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 for the past 12 years. This acquisition means all agents, developers and those who advertise with us, can receive more leads and buyers and renters have more options to choose from,” Gunaratna said.

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 recorded a 61 percent increase in the number of leads generated in the past two years, and 54 percent of advertisers said they sold or rented their properties through LankaPropertyWeb.

Last year, LankaPropertyWeb launched two new products. ‘Buyer and Seller Assistance’ provides advisory, legal and documentation work making buying or selling of a property hassle free.