Property Finder, a UAE-born real estate portal in the MENA region, acquired Bahrain Property World, a property portal in Bahrain.
The acquisition will provide an opportunity to promote Bahrain property to Middle Eastern investors. Following the deal Steven Filipowicz, Founder of Bahrain Property World, will continue to play a role and be involved in the day-to-day operations of the combined entity.
Led by Michael Lahyani, CEO and Founder, Property Finder is a digital real estate platform in the Middle East and North Africa region that facilitates the house hunting process for both buyers and renters.
Founded in 2007, the company operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt and Morocco, and has a significant stake in the second largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents.
US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further talent and investing in its technology and product capabilities.
The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.
In April 2019, Property Finder announced acquisition of JRD Group, following an increased investment in Turkish portal Zingat in April 2019.
In 2014, it had acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.