Property Finder agrees to acquire JRD Group

April 9, 2019
Share this Post: 

JRD Group, the parent company to real estate marketplace, as well as broker CRM Solution, Propspace, has been acquired by Property Finder

Property Finder, a real estate marketplace servicing the Middle East, has recently agreed to acquire its competitor JRD Group, a proptech provider out of the same region, which also owns broker CRM solution for real estate professionals, Propspace, and property portal,

Michael Lahyani, Founder and Chief Executive Officer of Property Finder, said: "Property Finder and JRD Group share the same consumer-centric philosophy and vision of further professionalizing the real estate market. The integration of our products and additional investment in will provide consumers with better insights to support them in taking property buying or renting decisions."

With this acquisition, Property Finder will be able to offer its real estate professional users new opportunities and provide them with a bigger audience along with more CRM, property management solutions, and listing portals to choose from.

This acquisition, though it has yet to be completed, comes just months after General Atlantic invested in Property Finder. It coincides with the Group's plan to expand brand presence in the UAE and invest in further developing its products and data information gathering.

As for what will become of JRD Group, Alex Nicholas and Siddharth Singh, the two founders of the company, will stay on board and become Property Finder shareholders.

"This is a great outcome for us after 10 years of hard work. We believe sharing synergies will offer coherence and integration in our combined tech offerings to real estate brokers and developers. We are super excited about this opportunity to enable JRD Group to develop its enterprise software products and property portals further and reach a much larger audience through the Property Finder Group network," said Nicholas, co-founder and CEO of JRD Group.

IMENA Group, who has invested in JRD Group, will fully exit its investment, as per protocol with the acquisition. Khaldoon Tabaza, Founder & Managing Director of iMENA Group, said: "We are happy with the outcome of our investment in JRD Group, which further validates our thesis on the potential and ability of our region to create scalable online marketplace businesses to lead the digitalization of the key sectors of the regional economy."

This comes after Property Finder announced that it would be increasing its stake in Turkish property portal Zingat to almost 40% and is expected to close after customary conditions have been met.

SOURCE PropertyFinder
Edited by V. Havilan

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.


April 9, 2019
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Carousell Ceo 1
Singapore Marketplace Carousell Drops SPAC Talks with L Catterton

The Singapore based horizontal marketplace company Carousell has reportedly ended talks with private equity firm L Catterton about going public...

Read More
Casavo Bright Building
Italian iBuyer Casavo Expands Spanish Footprint with Seville Opening

The Italian headquartered iBuyer Casavo has announced that it is to expand its Spanish operations to Seville where it will...

Read More
Iovox Customer Using Software Editado 1
iovox Buys Out Rival CallSource's Marketplace Division

The global call tracking and analytics solutions provider iovox has announced that it has acquired the Marketplaces division of rival...

Read More
Dorrinsider Cover
Ten Questions With Farah Falconi, Founder & CEO of DoorInsider

The question of whether portals or agents should be the ones to push new immersive listings technology is one we've...

Read More

Popular News