Morrocan property portal, Mubawab, is pumping $10 million into the Maghreb region to boost its influence.
Haider Ali Khan, EMPG's Managing Director for the Middle East and North Africa (MENA), said:
"Mubawab's vision in supporting real estate professionals reinforces our choice to consolidate its position as a major real estate player in the Maghreb.”
EMPG owns 51% of Mubawab.
Mubawab has a strategic growth plan for 2021-2023 and this investment is just one of the many ways it plans to the digitization of the Maghreb real estate market.
The platform loans to develop innovations to deal with the impact the COVID crisis has had on the market, hoping to “rebound in performance over the last quarter of 2020,” said Haider Ali Khan. Mubawab also intends to invest in research and development as well as bring in 200 more to its staff.