Middle East real estate classifieds website Property Finder has signed an agreement to acquire its competitor JRD Group, a UAE-based real estate technology provider, owner of property portal Justproperty.com and Propspace, a prominent broker CRM solution used by real estate professionals.
Michael Lahyani, Founder and Chief Executive Officer of Property Finder, said: "Property Finder and JRD Group share the same consumer-centric philosophy and vision of further professionalising the real estate market. The integration of our products and additional investment in JustProperty.com will provide consumers with better insights to support them in taking property buying or renting decisions."
The acquisition will also provide real estate professionals with new exciting opportunities and enable them to reach a larger audience and a broader offering of CRM, property management solutions and listing portals.
This acquisition happens only a few months after the investment by General Atlantic in Property Finder in November 2018 and is in line with the Group's strategy to expand the brand in the UAE and invest in building the best products and data information available.
Alex Nicholas and Siddharth Singh, JRD Group Founders, will stay on board and become shareholders of Property Finder.