ZPG, owner of some of the UK’s leading home-related digital platforms including Zoopla, uSwitch, PrimeLocation, Hometrack and Property Software Group has become a 1% shareholder in Propertyfinder Group (PFG), the Dubai-based business with leading property portals across the Middle East and North Africa (MENA).
PFG was founded in 2005 and is the leading real estate vertical classified in MENA operating in 7 countries: UAE, Qatar, Lebanon, Bahrain, Egypt, Morocco and Saudi Arabia employing nearly 200 staff. PFG is the clear market leader in 5 of those 7 markets and generates over 2 million monthly visits.
As part of the deal, ZPG has transferred its ownership of the propertyfinder.com domain name to PFG.
Alex Chesterman, Founder & CEO at ZPG said he was pleased with the deal.
“We are excited to become a small shareholder in Propertyfinder Group, the leading player in digital property across the Middle East and Africa. Their business is growing fast and we have no doubt that we can add strategic value as a shareholder.”
Michael Lahyani, Founder & CEO at PFG added: “I have known Alex for years and we have always enjoyed strategic conversations on the real estate classified space. Having ZPG as a shareholder is not only a vote of confidence in our business but also an opportunity to secure the propertyfinder.com domain name, a strategic asset for our group.”