LAMUDI Philippines has welcomed Kenneth Stern to lead the company’s overall operations as chief executive officer (CEO).
He thanked Bhavna Suresh—his predecessor who has served the firm for four years—for the trust, while recognizing the legacy she’ll leave behind the company.
“Bhavna played a huge role in making Lamudi a household name in the industry. 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 said.
His appointment comes at the heels of the biggest change in Lamudi Philippines since its establishment, 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 firm.
The acquisition was made public 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 different established property platforms globally, including Bayut in the United Arab Emirates (UAE), Saudi Arabia and Jordan; Zameen in Pakistan; Bproperty.com in Bangladesh; Mubawab in Morocco and Tunisia; and Kaidee in Thailand.
It, likewise, owns and operates Dubizzle in the UAE, OLX Pakistan, OLX Egypt and OLX Lebanon, in addition to several other OLX platforms.
Lamudi Cofounder and CEO Kian 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 leverages on, while the ambitious growth plans are supported by the required capital, according to him.
Lamudi Philippines is expected to expand more of its operations with Stern’s 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 keep on propelling the industry, improving services and helping people find their dream property online.
Suresh was thrilled over her successor’s term, which she believes will sustain the company’s business growth.
“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,” said the outgoing top executive. “I’m looking forward to seeing the company rise to even greater heights.”
Moini agreed with her, as he expressed strong excitement over Stern joining Lamudi. He said: “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.”
With a decade of real estate experience, he is set to help scale the Lamudi business further. His global stints in property industries in the United States of America (USA), Australia, and the Philippines, add 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 number of offices, agents, and transaction volume. In 2019, RE/MAX Philippines was among the fastest-growing franchises in Asia Pacific.
The new CEO of Lamudi Philippines finished a Master’s Degree in International Business at Macquarie University, Sydney, Australia and a Bachelor’s Degree in Business Administration at the Boston University, USA.