© 2016 Dave G. / J. Zam
Growth and Technology
In world economics, there seem to be two major ways that growth occurs. The first is through technological revolution. This kind of dynamic is exemplified by eras such as the industrial revolution in the United Kingdom, or by the work being done over the last two decades in Silicon Valley. New products, processes, and ideas change the way we look at the world, creating new product categories, service needs, and markets from scratch.
The second way is through development and population growth. This one is simple to understand. A country lagging in development is rife with opportunities to replicate industries seen in other countries, and to provide services that are missing. An company may build a mobile internet network where there wasn’t one prior, opening up huge opportunities for growth in smartphone sales and other devices. The other side of this kind of growth through simply adding more buyers and workers, through population expansion, organically expands the economy.
It is rare when these kinds of growth avenues occur simultaneously in a country, but in the Philippine islands—one of the world’s fastest growing countries—Lamudi Inc. is doing just that by revolutionizing the real estate industry through technological innovation.
The Philippines; Growing and Changing
The Philippines, a nation in Southeast Asia consisting of 7,461 islands in the Western Pacific Ocean, is a country that seems to be constantly in flux. It is, without question, one of the world’s most populous countries, and one that is still growing rapidly. In 2014, the Philippines exceeded the 100 million mark in population, putting it at 12th in the world. After years of stagnating under a heavy-handed and corrupt dictatorship, reforms in the 1990’s slowly began to manifest in economic growth and development. Today, the benefits are continuing to compound.
Once a country heavily dependent on subsistence agriculture, the Philippines is now one of the world’s biggest exporters of semiconductors and other sophisticated computer parts. Its industrial sector, though young, is sophisticated and growing rapidly, and its services sector is well-developed. Education continues to expand, and the country is home to many world-class universities, art schools, and technological institutions.
When it comes to Real Estate, Metro Manila has been a steady driver of growth in the residential, commercial, office, and hospitality real estate sectors. This metro area combining the cities of Manila, the Philippines capital, and Quezon City, its largest city, accounts for well over a third of the country’s GDP. As the center of industry, commerce, culture, and politics, property here is growing in value, and construction is booming, with an impressive skyline rising in both cities. The dynamic of how these properties are bought and sold is changing rapidly as well, thanks to Lamudi Inc.
Lamudi, Driving Innovation in Real Estate
© 2016 Dave G. / J. Zam
Lamudi is the number one online property portal in the Philippines. The site helps connect buyers and sellers of real estate with a beautiful, elegant online platform that conveys information quickly and efficiently. The platform, built around lightning fast architecture, features an excellent and innovative property search engine. This dynamic tool allows users to pinpoint their searches with extreme accuracy, and allows brokers to connect with exactly the buyers they’re trying to reach, saving time, cost, and frustration in a market where properties can often move quickly.
Lamudi is leading the charge in the evolution of how property sellers and buyers approach the real estate sales process in the Philippines, facilitating the sales of homes, developable land, and commercial property alike. Lamudi is proving to be an invaluable partner to real estate brokerages in the Philippines who, with their large portfolios under their control, were in need of a unified platform to display and sell their properties.
Due to its centrality in buying and selling properties in the country, Lamudi is perhaps the body with the most first-hand data pertaining to the Philippines real estate industry. Its yearly reports on the state of the industry are highly prized by investment analysts and economists alike.
Lamudi is a subsidy of the Rocket-Internet family of companies, a German company that builds internet ventures across the globe. With its success in the Philippines, Lamudi has been expanding to more and more markets across the globe. It now operates in Latin America in countries such as Colombia, Mexico, and Peru; in 18 countries across Africa including major markets like Nigeria, Ethiopia, and Ghana; and in the Middle East and Asia in countries such as Jordan, Saudi Arabia, the UAE, Bangladesh, and Indonesia.
For its immense success in capturing market share, its revolutionary innovations, and its expansion internationally, Lamudi Inc. is being recognized with the 2016 BID Quality Award, one of the world’s most prestigious recognitions for innovation, excellence, and quality.
ABOUT BID AND THE INTERNATIONAL QUALITY SUMMIT AWARD:
BID is a private and independent organization founded in 1984, whose primary activity is business communication orientated towards quality, excellence and innovation in management. A leader in the broadcasting of Quality Culture, BID recognizes those companies and organizations which lead the most important activities in the business world, and is considered the founding organization in the broadcasting of the Culture of Quality, Excellence and Innovation in 179 countries. The trophy symbolizes a pledge to the principles of Quality Culture. The QC100 Total Quality Management Model, together with the Quality Mix program, media coverage of the convention and its impact on the community and business sector, create an unmatched platform for continuous improvement within the organization and awareness of the achievements of the company at an international level. Awards are given only to those who are committed to improving their Quality Culture based on the principles of the QC100 Total Quality Management Model. Candidates are proposed by the leaders of previously awarded companies who they consider worthy of the award. Especially meritorious candidates may also be nominated. The International BID Quality Award Selection Committee then chooses the winning companies who will receive the award in New York, Paris, Geneva, Frankfurt, Madrid and London.