Lamudi Mexico, a real estate vertical owned by EMPG, will invest over $60 million to strengthen its market position in the country in the next three years, the company said.

The company said it expects to quadruple its commercial team in Mexico.

Without providing specific data, Lamudi said real estate searches at its website doubled in 2021 on a year-over-year basis.

Jaume Molet, director general at Lamudi Mexico, said the company aims to have a 1,000 workforce by 2022.

Despite Lamudi’s ambitious plans, it still lags behind market leader Inmuebles24 in terms of traffic. Inmuebles24 is owned by Latin America real estate and jobs powerhouse Navent. According to traffic data from SimilarWeb, Inmueble24 reported over 5.6 million visits in April this year, more than twice the 2.6 million visits Lamudi Mexico reported for the same month.

Lamudi’s ambitious plan comes as the company plans to become a real estate agency.

By partnering with affiliated real estate developers, Lamudi Mexico said it helps sell on average 120 apartments per month.

“First we started with the marketplace business, next was the transactional business, and this I a further step in this direction,” said Molet.

Related Articles