The UAE-based Emerging Markets Property Group (EMPG), which owns and operates Bayut.com, has acquired Morocco’s largest property portal, Mubawab, the company announced on Tuesday.
Based in Casablanca, Mubawab was founded in 2011 by entrepreneurs Kevin Gormand and Toni Puig and is the North African country’s largest real estate vertical, with operations in several cities.
The portal also has significant brand presence in Morocco, having successfully executed TV campaigns since 2015.
Haider Ali Khan, the CEO of Bayut.com and responsible for EMPG’s international expansion, said that the company’s current leadership will continue to lead Mubawab as EMPG injects capital into it and introduces data-driven strategy and technology.
“We believe Mubaweb’s core strength is its people, and we are happy that they will continue to lead the charge. Kevin and Toni have built a great team, and they are the best people to carry the portal into this new phase of rapid development and consolidation under the EMPG umbrella,” he said.
“The group will be injecting a substantial amount of funds and expertise into Mubawab, with the singular aim of driving exponential growth across all metrics,” he added.
The acquisition bolsters EMPG’s presence in the region further, where it is already the largest player with Zameen in Pakistan, Bayut in the UAE and Bproperty in Bangladesh.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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