Immoweb S.A., a company of Axel Springer Digital Classifieds, and Real Web S.A., parent company of Immobiliare.it, have acquired 70% of the shares in Real Estate Media S.A., which operates the Luxemburg-based property portal Immotop.lu. The remaining shares are held by the founders.
Real estate is booming in Luxemburg with lots of new buildings under construction and a high number of transaction of existing homes. As a consequence, real estate agents and developers are eager to get more exposure for their listings, aiming to sell all of these properties on the market. This is also affecting neighbouring border areas of Belgium, France and Germany, leveraging on this positive momentum.
Founded by Serge and and Alex Uschkaloff Immotop.lu has steadily grown to become a leading real estate portal in the Greater Region of Luxembourg. With more than 450 customers, 25,000 listings and 130,000 visitors per month, Immotop.lu is the fastest growing property portal in the market.
The new shareholders plan to support the management with their long-standing expertise in real estate classifieds as well as with financial investments.
Christophe Rousseaux, Executive Vice President, Immoweb S.A. said the opportunity to enter the new market was advantageous for Immoweb.
"We always wanted to enter the attractive Luxemburg market," Rousseaux said. "Immotop.lu offers us the opportunity to satisfy audiences from both Belgium and Luxemburg with our cumulative real estate offer.”
The president of Real Web S.A. Andrea Piccioni added: “We have been in contact with the team at Immotop.lu for a few years and, together with Immoweb, we see the possibility to bring significant benefits to Luxembourgish agencies as well as real-estate seekers via broader regional supply while leveraging our proven marketplace know-how as a leading operator in different markets/categories.”
Serge Uschkaloff, Co-founder and CEO, Immotop.lu commented: ”It was a real strategic opportunity for our company to get a stronger position on the market and ensure our growth in the long run. The close collaboration with qualitative partners like Immoweb and Immobiliare.it opens new horizons and provides us with a know-how, essential for the development of our business. Our customers already benefit from this partnership with the launch in September of a new responsive web site and performant professional tools helping to get a better return on investment.”