Lifull Co. Ltd develops global property platform

28 Apr 2017

Lifull Co. Ltd (TSE: 2120), owner of Japan’s leading real estate vertical Lifull Home’s (at Homes.co.jp), and the world’s biggest general classifieds aggregator Trovit, is developing a multilingual, global platform to facilitate property buying and selling across borders.

Next Co. Ltd changed its name to Lifull Co. Ltd earlier this month (read all about it here). A new company website is under construction (here).

To help it with this (and other) development work, the company acquired app and software developer Vietnam Creative Consulting, a company already providing services to a number of real estate companies in Japan.

Lifull acquired Vietnam Creative Consulting for an undisclosed sum in cash, “to enhance the development capability”, the company said in a news release (here).

Lifull said its mid-term strategy is focused on “transforming and revitalizing the real estate industry by utilizing IT”.

“(We) also aim to develop a global platform that makes everyone feel safe and convinced to change dwellings and buy/sell real estate across borders without language barriers,” the company said in a statement.

In the nine months from April to December 2016, Lifull generated revenue of 20.9 billion Japanese yen ($188 million U.S.). Real estate site LifullHome’s (new name of Homes.co.jp) contributed revenue of ¥14.7 billion (70 percent) of total revenue.

The group employs 1,129 people, including 244 temporary and 165 overseas employees, according to the company.

In Japan, Lifull Home’s attracted 13 million visits to its desktop and mobile sites in March, according to Similarweb.com. Comparatively, its rival Suumo.jp had 18.3 million visits, while Athome.co.jp recorded 7.4 million visits.

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Tariq Ahmed Saeedi

Tariq Ahmed Saeedi covers Pakistan. Tariq is curious to dig up stories revealing the potential of technologies in turning things around.