Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Dubai Property Finder raises $120 mln at valuation close to $500 mln
Amwal Al Ghad Published in Amwal Al Ghad on 29 - 11 - 2018

Dubai-based real estate classifieds website Property Finder has raised $120 million in a round led by General Atlantic, a New York-headquartered global private equity firm, Reuters reported today.
It is one of the largest investment rounds raised by a technology company based in MENA.
The firm has acquired a minority stake according to Reuters. The exact size of stake acquired is unknown but company's CEO has told Reuters that the investment comes at a valuation close to $500 million.
The company less than three years ago was valued at $200 million when it raised a $20 million Series B from Vostok New Ventures in January 2016.
Founded in 2007 by Michael Lahyani, Renan Bourdeau, the Property Finder group owns and runs leading real estate portals across the Middle East and North Africa including PropertyFinder.ae, which is UAE's leading real estate and rental marketplace.
Their websites are available in both English and Arabic with advertisers from different backgrounds including real estate agents, letting (rental) agents, and new home developers. Property Finder claims to have the most popular property mobile app in the region.
Their websites according to them attract over 16 million page views per month, with over 89% organic traffic in the UAE, and a 65 percent market share in UAE.
The company with use latest investment to further build their product and technology, its CEO Michael Lahyani told Reuters, "We want to continue building the best product and data information available to the public."
The money will also be used to expand the brand in its existing market of Saudi Arabia, Egypt, Turkey, the United Arab Emirates, Qatar, Bahrain, Lebanon, and Morocco.
Property Finder will add about 200 new employees to its current headcount of 450 at the end of 2018.
The company according to Reuters has been profitable for the past four years.
Earlier this year, another regional technology company, Emerging Markets Property Group (EMPG), that owns different property websites across the region including UAE's Bayut.com and Pakistan's Zameen.com had raised $50 million in Series D funding from undisclosed investors, taking the total investments raised by them to $110 million.

Clic here to read the story from its source.