UAE’s Propertyfinder snaps up Lebanese property website

  • Share via facebook
  • Tweet this
  • Bookmark and Share

One of the UAE’s leading property portals has acquired Lebanese portal realestate.com.lb, after successfully raising capital for expansion.

Propertyfinder.ae made the 100 percent acquisition of realestate.com.lb following the website’s first round of investment since 2009, designed to help it grow into new markets.

The deal will allow Lebanese brokers and developers to use Propertyfiner’s vast network, as well as its advanced technology, and gives Propertyfinder greater reach throughout the region.

Founder and CEO Michael Lahyani said: “We see great potential in this portal as Lebanon’s residential market continues to thrive with diverse projects being developed for local residents and the large community outside of the country, for whom Lebanon will always be home.

“We believe that the current management of realestate.com.lb has done an amazing job with limited resources. This, together with our technological muscle and extensive knowledge of online marketing, means we are confident we can facilitate foreign investment back to the country by exposing the Lebanese property market to a larger global audience.”

Wissam Moubarak, CEO of realestate.com.lb said of the acquisition: “After visiting the Propertyfinder.ae headquarters in Dubai, I was very impressed by their technology and level of expertise and am looking forward to applying these to our market and servicing our agents with international standards.”

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Engines of innovation: TURN8

Engines of innovation: TURN8

Tamara Pupic visited one of the institutions at the centre of...

How QSTP is incubating innovation

How QSTP is incubating innovation

Courtney Trenwith examines how Qatar’s dedicated research and...

How to increase productivity

How to increase productivity

With the desire to develope skills, knowledge, and competence...

Most Discussed
  • 10
    Nakheel PR: The toughest job in Dubai?

    On service charges.

    We were overcharged for years by Nakheel so that those loans could be paid back.

    The dramatic cuts have come to nothing... more

    Friday, 27 March 2015 7:32 PM - Pondersome George
  • 10
    Has Narendra Modi already lost the plot?

    Modi was elected just because the earlier govt was corruption ridden and a mess.Add to it their insistence on rahul Gandhi leading who is nothing but a... more

    Friday, 27 March 2015 7:33 PM - Charles
  • 5
    Drunk passenger who slapped air stewardess jailed in Dubai

    I agree that a charge for alcohol may help but it doesn't necessarily prevent the wealthy from drinking and acting irresponsibly - particularly as with... more

    Friday, 27 March 2015 7:31 PM - Doug