Lamudi Philippines welcomes Kenneth Stern to spearhead the company’s overall operations as CEO, succeeding Bhavna Suresh who served the property platform for four years.
Kenneth Stern was the former country manager of RE/MAX Philippines, a global real estate franchise. Kenneth takes the helm from Bhavna Suresh, who has served the company for four years.
“I’m excited to hand over the baton to Ken. He knows the real estate industry very well and I’m sure that he will stay true to the values that made Lamudi Philippines a success,” according to Suresh. “I’m looking forward to seeing the company rise to even greater heights,” she added.
“The past four years, Bhavna has been fundamental in growing Lamudi into the Philippines’ trusted brand for property search, helping thousands of brokers and property developers to market their products to millions of monthly property seekers. We are not only most thankful but believe her work will have lasting impact on the entire industry,” Kian Moini, Co-Founder and CEO of Lamudi, said.
For his part, Stern thanked Suresh for the trust, while acknowledging the legacy she’ll leave with the company. “Bhavna played a huge role in making Lamudi a household name in the industry,” he shared.
“I could not be more eager to take on the challenge of leading the company to its envisioned hyper-growth phase, supporting the industry through the unprecedented crisis we’re currently facing,” Stern added.
Moini expressed strong excitement over Stern joining Lamudi. “We’re most excited to have Kenneth Stern, an industry expert, on board to take our company through the next phase of our ambitious goals. Kenneth’s expertise, skill, and character are already sought after by the team and the industry days after his joining. We could not have found a better match.”
A Real Estate Veteran Comes Home
With ten years of real estate experience under his belt, Stern is set to help scale the Lamudi business further. His global experience in property industries, namely in the United States of America, Australia, and the Philippines, adds to the strength of his expertise.
Stern took on the country manager role of RE/MAX Philippines in 2016, and under his leadership, the real estate franchise has grown to be the largest in the country by the number of offices, agents, and transaction volume. In 2019, RE/MAX Philippines was among the fastest-growing franchises in the Asia Pacific.
He graduated with a Master’s Degree in International Business at Macquarie University, Sydney, Australia, and a Bachelor’s Degree in Business Administration at Boston University, USA.
He was previously a Bloomberg property expert on Business World Live in One News, providing updates and analysis on the Philippine real estate market.
The Next Step in Strengthening Lamudi’s Market Presence
The entry of Stern as the new CEO for Lamudi Philippines treads on the heels of the biggest change in the company since its foundation, having EMPG (Emerging Markets Property Group), the leading digital classifieds groups in the Middle East, North Africa (MENA), South Asia and Southeast Asia regions, as its parent company.
The acquisition was announced publicly in May, with the business deal taking place before EMPG’s merger with OLX Group’s businesses in MENA and South Africa. EMPG owns and operates various established property platforms around the world, including Bayut in the UAE, Saudi Arabia, and Jordan, Zameen in Pakistan, Bproperty.com in Bangladesh, Mubawab in Morocco and Tunisia, and Kaidee in Thailand. The company likewise owns and operates Dubizzle in the UAE, OLX Pakistan, OLX Egypt and OLX Lebanon, in addition to several other OLX platforms.
Moini said that EMPG’s acquisition of Lamudi Global “raises the bar” for digital marketplaces. The group’s strategic depth and advanced technology are two major assets Lamudi banks on, while the ambitious growth plans are backed with the required capital, according to Moini.
Lamudi Philippines is expected to expand further its operations with the new leadership. Its track record is marked by innovative industry solutions, including housing fairs, broker awards, trend reports, and educational training sessions under the Lamudi Academy. Moving forward, it will continue to propel the industry, improving services, and helping people find their dream property online.