UAE’s Propertyfinder snaps up Lebanese property website

The Dubai-based real estate portal acquired Lebanese website realestate.com.lb
UAE’s Propertyfinder snaps up Lebanese property website
By Neil King
Wed 24 Jul 2013 12:50 PM

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.”

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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.