Property Finder Secures $525 Million Investment from Permira and Blackstone
UAE-based real estate classifieds platform, Property Finder, has secured a substantial $525 million investment through a minority stake sale to prominent private equity firms Permira and Blackstone. This significant deal, partially supported by a debt financing round of $90 million from Francisco Partners earlier in 2024, represents a major step forward for the company, which offers an invaluable service to those seeking property in the MENA region, an area that is becoming increasingly relevant to investment from the African continent.
Strategic Investment for Regional Growth
The transaction involves the partial exit of existing investor General Atlantic, who will remain a significant minority shareholder in Property Finder. This strategic move provides Property Finder access to the combined global expertise of three major private equity firms: Permira, Blackstone, and General Atlantic. This is particularly important as Property Finder directs its focus toward accelerated growth in key markets, specifically Saudi Arabia and Turkey, building on its existing regional presence. The investment marks Permira’s inaugural investment in the Middle East. The platform, founded in 2007 by Michael Lahyani and Renan Bourdeau, facilitates the search for both residential and commercial properties through a sophisticated classifieds system, allowing users to filter and find properties to buy or rent. This is a crucial service that can also benefit investors from Africa seeking investment opportunities in the real estate sector within the MENA region.
The $525 million investment is a testament to Property Finder’s strong market position and future growth potential, especially given the increasing prominence of real estate in the economic and investment landscape of the MENA region, offering opportunities for companies to explore in Africa as the continent’s investment landscape continues to evolve.
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