Carlo Wather, the former head of Rightmove, the UK Overseas RE listing site, is spearheading the launch of new private-equity backed Russian property portal.
Idinaidi.ru which launches officially at the end of January 2013 (currently on line in Russian only during test phase) will aim to exploit what is now the largest internet market in Europe, after Germany.
Internet penetration is rising rapidly in Russia and the property portal market is still fragmented without one dominant player such as Rightmove in the UK. The site has been more than two years in development and Wather claims the company has built the first truly national tool for the Russian market.
“Real estate is always about finding listings and connecting Professionals and Clients, and we have built the first comprehensive national tool to do this in Russia”.