In yet another resounding global testament to the growing allure of the UAE property market, Property Finder, the region’s leading property portal established in Dubai in June 2005, has sold a minority stake worth US$525 million to Blackstone and Permira.
As part of the transaction, General Atlantic, which has been a cornerstone shareholder of Property Finder since 2018, has sold part of its stake, but still retains a significant minority shareholding.
Property Finder operates the MENA region’s largest and most preferred property portal. The UAE property market, which is the largest market for Property Finder, was worth approximately US$160 billion in 2024 and is projected to grow at nearly 13 per cent over the next five years.
The participation of the three global investment companies reflects the confidence in Property Finder’s significant potential to grow in the large and fast-developing property classifieds marketplace in the UAE and across MENA.
Having started as a printed classified magazine with a free circulation of 70,000 copies, Property Finder has consistently transformed and improved how people buy, sell, and rent homes in the region through its comprehensive listings inventory, trusted user experience, and suite of innovative products powered by technology and AI.
Michael Lahyani, CEO and Founder of Property Finder, commented: “This partnership represents a defining moment in Property Finder’s journey. By welcoming Permira and Blackstone alongside General Atlantic as strategic investors, we are accelerating our mission to reshape real estate across the region through technology, AI, and an industry-leading property platform.
“This investment is a clear vote of confidence in Property Finder, in the UAE, and in the vast opportunity ahead.”
Permira, Blackstone and General Atlantic are global investors with strong track records in online classifieds, including strategic investments in Adevinta ASA, one of the world’s largest classifieds platforms, and another example of a successful investment partnership between the three firms.
The transaction will enable Property Finder to leverage both Permira and Blackstone’s international expertise, alongside General Atlantic’s global network, as it further scales its platform, expands into new markets, and captures emerging opportunities across MENA’s dynamic real estate sector.
David Erlong, Partner, Global Co-Head of Consumer at Permira, added: “We are delighted to partner with Property Finder, a market leader in one of the most dynamic property markets. This investment builds on our track record of backing leading digital platforms with powerful network effects and deep consumer engagement.
“Property Finder’s scale, technology, and brand trust creates a strong platform to capture long-term growth as the MENA real estate sector digitises. For Permira, this investment in the region – following the opening of our Dubai representative office – underscores both our conviction in the market opportunity and our confidence in the significant growth potential of the business.”
Paul Morrissey, Senior Managing Director at Blackstone Growth, said: “We are excited to partner with Property Finder, a clear market leader with a strong track record of innovation in the MENA region’s property sector.
“This investment reflects our confidence in the company’s growth potential and our commitment, together with Permira and General Atlantic, to supporting its mission to make property search and transactions more seamless for consumers and partners alike. It also underscores Blackstone’s long-term conviction to invest in high-quality businesses across the region.”
Chris Caulkin, Managing Director and Head of Technology for General Atlantic in EMEA, added: “We are proud to have supported Property Finder’s journey for over six years, helping it flourish into a leader in MENA’s classified property marketplace. Today’s transaction allows us to crystallise part of the value created, while importantly, we remain strongly invested in Property Finder´s future.
“Property Finder is well-positioned to continue its growth trajectory, and we look forward to partnering with Permira and Blackstone to unlock the next phase of expansion for Michael and the team.”
The transaction remains subject to customary approvals.
