“Property Finder” has announced a significant investment amounting to $525 million in the company. This round is spearheaded by investment funds managed by “Permira,” along with substantial capital contributions from funds overseen by “Blackstone Growth.” This collective investment represents a meaningful minority stake.
As part of the deal, “General Atlantic,” a key stakeholder in “Property Finder” since 2018, has sold a portion of its stake but retains a substantial minority interest. The collaboration of “Permira,” “Blackstone,” and “General Atlantic” brings together global expertise and a proven track record in investing within the digital real estate advertising sector. Their participation underscores a strong confidence in the vast potential of “Property Finder” and its capacity to thrive within the substantial and evolving real estate advertising market in the UAE and the broader MENA region, paving the way for new avenues of growth.
The real estate market in the UAE, which constitutes the largest segment for “Property Finder,” is projected to reach approximately $160 billion by 2024, with an anticipated growth rate of about 13% over the next five years. Michael Lahiani, the founder and CEO of “Property Finder,” stated, “This partnership marks a pivotal moment in the journey of ‘Property Finder.’ We welcome ‘Permira’ and ‘Blackstone’ alongside ‘General Atlantic’ as strategic investors.” It is noteworthy that the completion of this deal is contingent upon receiving the necessary regulatory approvals.