Property Finder
 | |
| Industry | Technology and Real Estate |
|---|---|
| Founded | 2005 |
| Founder | Michael Lahyani |
| Headquarters | , |
| Services | Online Real Estate Portal |
| Website | www |
Property Finder (formerly JustProperty) is an Emirati multinational real estate development company, headquartered in the United Arab Emirates. In addition to UAE, there are versions for Qatar, Bahrain,[1] Egypt, Oman, Jordan, Saudi Arabia, and Lebanon.
The listing database has more than 96,000 live listings[2] including homes, villas, apartments and commercial buildings.
History
[edit]The company was established in 2005 by Michael Lahyani as Al Bab World.[3]
In 2007, Australia’s REA Group acquired a 51% stake of the company and rebranded as Property Finder. In 2010, Property Finder was bought back by its founder, Michael Lahyani.[4]
In 2012, Property Finder Group launched its first international site in Qatar.[5] In 2013 Property Finder closed a round of series A funding led by BECO Capital and various heavyweights from Turkey, Asia, Dubai, and Silicon Valley. In the same year Property Finder expanded into Bahrain and Egypt with the launches of propertyfinder.bh and propertyfinder.eg.[6][4]
In January 2016, Sweden-listed investment firm Vostok New Ventures buys a 10% stake of Property Finder for 20 million USD.[7]
In 2017, the company acquired 17% stake in Zingat, a Turkish real estate company. Two years later, Property Finder increased its stake to 37%.[8] In 2018 Property Finder raised $120 million from US private equity firm General Atlantic, to primarily invest in product and technology development.[9]
In December, 2019 Property Finder and Dubai Land Department launched Mo’asher, Dubai’s official Sales Price Index, to the market.[10] In 2019, Property Finder acquired its UAE-based real estate company JRD Group, which operates JustProperty portal and Propspace.com.[11]
In 2022, Property Finder acquired UAE's proptech company HomeValue.[12]
References
[edit]- ^ "JustProperty.com Expanding to Bahrain, Jordan - Gulf News Journal".
- ^ "SME profile: Bootstrapped technology business secures cash for growth dash". The National. October 17, 2015.
- ^ "We Got Funded: UAE-Headquartered Property Finder Raises US$120 Million". Entrepreneur. 27 November 2018.
- ^ a b "How the founder of Dubai's propertyfinder.ae wrestled his company back from NewsCorp". Wamda.
- ^ Santosdiaz, Richie (18 October 2020). "Tech Partnerships and Collaborations In The Middle East With Property Finder". The Fintech Times.
- ^ "Property Finder is a platform offering digital marketing solutions to real estate companies in Egypt: Country manager - Dailynewsegypt". dailynewsegypt.com. 24 February 2015.
- ^ Fahy, Michael (11 January 2016). "Dubai's Propertyfinder nets $20 million from sale of 10% stake". The National.
- ^ "Dubai's Property Finder invests ~$12 million in Turkish property portal Zingat to increase its stake to 37% in the company". MENAbytes. 7 April 2019.
- ^ Paracha, Zubair Naeem (26 November 2018). "Dubai-based real estate classifieds website 'Property Finder' raises $120 million at a valuation close to $500 million". MENAbytes.
- ^ Illankoon, Kasun (29 December 2019). "DLD and Property Finder release official Dubai House Price Index". CBNME.
- ^ Townsend, Sarah (8 April 2019). "Property Finder to buy UAE rival JRD Group". The National.
- ^ Godinho, Varun (20 January 2022). "UAE's Property Finder acquires proptech firm Homevalue". Gulf Business.
External links
[edit]- "Why buying a house in Dubai is better than living on rent". Khaleej Times. Retrieved 2017-07-11.
- "JustProperty.com launches two new portals". Trade Arabia. Retrieved 2017-07-11.
- "Buying in Dubai: What you need to know". Expat Woman. 29 August 2013. Retrieved 2017-07-11.