Pakistan’s top property portal, Zameen, launched by British-Pakistani entrepreneur brothers Zeeshan and Imran Ali Khan back in 2006, could be seeing a new wave of overseas tech companies flooding the country, as more investors see the appeal of this growing market.
With barely 15 million mobile internet users in Pakistan (from approximately 130 million total mobile SIM subscribers), according to an article by Tech In Asia, foreign companies are still rushing in to compete in some of the most easily monetizable parts of the web – such as ecommerce and ad-supported web portals. That includes online property listings.
As a consequence, Zameen is now up against classifieds sites like OLX Pakistan (a branch of Argentina-born OLX) and the brand-new Dekho.com.pk (created by Sweden-based venture incubator Saltside, which got US$25 million in funding last week to expand into more emerging nations). But Zameen’s biggest challenger is a dedicated property site of the same genus – Rocket Internet’s Lamudi.
Lamudi currently operates across 21 countries, including five in Asia (Myanmar, Indonesia, Philippines, Pakistan and Bangladesh). It claims to now have over 200,000 property listings globally.
The above article was sourced from Tech In Asia. Read the rest of the article here.