"The property sector has seen significant growth since 2009, as infrastructure has improved and investors have come back. We want to be there to grow alongside this thriving industry."
Rocket Internet specializes in launching e-commerce sites in developing countries often using models that have been successful elsewhere.
The group has become a strong player in several East Asian nations ranging from Malaysia to Vietnam with its Lazada online retail site.The firm said the Lamudi.lk will bring the total countries the property portal is operating to 28 and it was already market leader in Bangladesh and Myanmar.
It will provide competition to existing portals such as lankapropertyweb.com, bhoomi.lk, and lankaland.lk.
Foreign e-commerce firms have shown interest in Sri Lanka in recent years. Saltside Technologies, a Sweden based company launched ikman.lk, a classified site that has quickly caught on, though it is still not charging fees.