Property Finder Group
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| Available in | English, Arabic |
|---|---|
| Founded | 2007 Dubai, UAE |
| Area served | UAE, Egypt, KSA, Qatar, Bahrain and Turkey |
| Founder(s) | Michael Layhani |
| Industry | Real estate, Online marketplace |
| Employees | 300+ |
| Website | www |
| Current status | Active |
Property Finder is one of the leading digital real estate platforms in the Middle East[1] that includes real estate classifieds websites, applications, and management tools.
The company is headquartered in the United Arab Emirates and operates in 6 countries: United Arab Emirates, Egypt, Turkey, Saudi Arabia, Qatar and Bahrain.
Moreover, Property Finder has a real estate data hub, which publishes the official Real Estate index called Mo’Asher [2] for Dubai, UAE, in partnership with the Dubai Land Department to provide real estate data[3] on transactions, indices, and market demand.
In 2016, the company acquired a majority stake in Mortgage Finder. The platform eventually became a fully integrated business unit. Mortgage Finder offers comprehensive support to prospective buyers in the UAE, from finding the right financing product and pre-approvals to disbursement.
Property Finder operates in 6 markets across the MENAT region: UAE, Egypt, Turkey, Saudi Arabia, Qatar and Bahrain.
History[edit]
The company was launched in UAE in 2005 as Al Bab World, a magazine.[4]
In 2007, Australia’s REA Group LTD acquired 51% of the company which was rebranded Property Finder. Then, in 2010, Property Finder was bought back by its founders, Michael Lahyani and Renan Bourdeau.[5]
In 2012, Property Finder Group launched its first international site in Qatar[6], and in 2013, the company expanded into Bahrain and Egypt, then into Saudi Arabia in 2014. [7]
In 2017, the company bought a 17% stake in Zingat, a Turkish property portal. 2 years later, Property Finder increased its stake to 37%..[8]
In 2019, Property Finder acquired its UAE competitor JRD Group, which operated JustProperty website.[9]
In 2022, the company acquired Homevalue[10] , a Dubai-based proptech firm.
Investors[edit]
In 2013, Property Finder closed a round of Series A funding led by BECO Capital, a Dubai-based VC firm.[11]
In 2016, the group raised $20 million from sale of 10% stake to the Sweden-listed investment firm Vostok New Ventures (now VNV Global).[12]
In 2018, Property Finder raised $120 million from the US private equity firm General Atlantic.[13]
References[edit]
- ↑ "Dubai 100: Meet the 100 people you need to know in the emirate". 2023-02-08.
- ↑ "Mo'asher 2022: The latest updates from Dubai's official residential real estate performance index". Gulf Business. 2022-07-07.
- ↑ "تقرير بروبرتي فايندر السنوي يكشف اتجاهات السوق العقارية في دبي وأبوظبي لعام 2022". 2023-02-09.
- ↑ "Breaking Ground: Propertyfinder Group Founder And CEO Michael Lahyani". Entrepreneur Middle East. 2019-09-19.
- ↑ "How the founder of Dubai's propertyfinder.ae wrestled his company back from NewsCorp". Wamda. 2013-07-08.
- ↑ "Tech Partnerships and Collaborations In The Middle East With Property Finder". The Fintech Times. 2020-10-18.
- ↑ "Property Finder Acquires Bahrain Property World". FinSMEs. 2019-04-18.
- ↑ "Dubai's Property Finder invests $12 million in Turkish property portal Zingat to increase its stake to 37% in the company". MENAbytes. 2019-04-07.
- ↑ "Property Finder to buy UAE rival JRD Group". The National News. 2019-04-08.
- ↑ "Property Finder تستحوذ على Homevalue الإماراتية". 2022-01-01.
- ↑ "Dubai-based BECO Capital closes $100m fund for MENA startups". Disrupt Africa. 2019-03-10.
- ↑ "Propertyfinder.ae raises $20M from Swedish investors". Wamda. 2016-01-11.
- ↑ "General Atlantic leads $120 mln investment in Dubai's Property Finder". Reuters. 2018-01-11.
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