Dubai-based Property Finder’s shopping spree of regional property websites doesn’t seem to be ending anytime soon. A week after announcing the acquisition of its Dubai-based competitor JustProperty.com, Property Finder this morning has announced the acquisition of Bahraini property portal ‘Bahrain Property World’ without disclosing the financial details of transaction. The Dubai-based company two weeks ago had also increased its stake in Turkish property portal Zingat to 37 per cent after making an investment of $12 million in it.
All these acquisitions come almost six months after Property Finder raised $120 million from General Atlantic in one of the largest investment rounds secured by a startup from Mena.
Property Finder has been active in Bahrain since 2013 through its property portal PropertyFinder.bh that receives over 50,000 monthly visitors on average. Bahrain Property World, on the other hand, was apparently launched last year, and currently receives 15,000 monthly visitors on average.
Michael Lahyani, Founder and CEO of Property Finder Group, said: “This is one of three high-powered strategic moves since closing our latest round of investment led by General Atlantic. The first being the increase in our share in Turkish portal Zingat, and our recent acquisition of UAE competitor JRD Group. We are very happy to further instill our confidence in the Bahrain region and continue to invest in a market in which we see a lot of potential and have been present since 2013.”