Online real estate marketplace Property Finder is all set to exert an even stronger presence in MENA after acquiring Bahrain Property World (BPW), one of the leading property portals operating in the Kingdom.
Property Finder was already active in Bahrain’s real estate sector, having launched operations back in 2013 via its Bahrain-specific website PropertyFinder.bh.
The new deal with BPW comes barely five months after the company raised $120 million in a funding round led by General Atlantic, a private equity firm.
“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,” said Michael Lahyani, founder and CEO of Property Finder, following the BPW acquisition.
He added: “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 potentials and have been present since 2013.”
The Property Finder CEO also noted that the acquisition of BPW brings along a lucrative opportunity to promote Bahrain’s real estate market to investors in the broader region.
Acknowledging that the deal is another key milestone in the company’s goal of further solidifying its position in MENA, Lahyani added: ”It is also a testament of the potential growth that we expect from the country, where we want to continue to bring the best real estate listings and data to Bahrain citizens and residents.”