Property Finder Divests PropSpace CRM Business

The UAE-based real estate marketplace operator Property Finder has announced its divestment from its PropSpace CRM business.

According to a press release the move is part of a "strategic refocus" which will see Property Finder streamline operations and double down on its core mission of empowering customers to make informed real estate decisions.

“As the real estate industry increasingly relies on digital transformation, the CRM market represents a key driver of operational efficiency for real estate professionals. This transition creates an independent entity to better serve our industry,” said Michael Lahyani, Founder and Chief Executive Officer of Property Finder. “Through this transition, we are giving PropSpace the freedom to innovate and continue its leadership in the CRM space. ”

PropSpace will now operate as an independent entity and will be led by Patrick Caulfield, who joins as Chief Executive Officer having previously served as Managing Director of Arthur Online, one of the UK’s leading property management CRMs.

Property Finder took control of PropSpace along with rival portal domain JustProperty when it acquired the brand's parent company JRD Group in 2019.

Property Finder operates real estate marketplaces in its home market, as well as in Qatar, Bahrain, Egypt, and Saudi Arabia.