Permira and Blackstone Growth Invests in Property Finder

Property Finder, a leading property portal in the Middle East and North Africa (MENA), on Tuesdat announced an investment of $525 million in the company led by funds advised by Permira and those managed by Blackstone Growth.

The combined investment represents a meaningful minority stake and reaffirms Property Finder’s position as a market leader and technology innovator in MENA’s fast-growing property classifieds market.

As part of the transaction, which is subject to customary approvals, General Atlantic, which has been a cornerstone shareholder of Property Finder since 2018, has sold part of its stake while retaining a significant minority shareholding, Permira said.

Together, Permira, Blackstone and General Atlantic bring global expertise and a track record of investing in leading online classifieds businesses. Their participation reflects the confidence of three global investment firms in Property Finder’s significant potential to grow in the large and fast-developing property classifieds marketplace in the UAE and across MENA.

Property Finder operates the MENA region’s largest and most preferred property portal. The UAE property market, the largest market for Property Finder, is worth $160 billion in 2024 and is projected to grow around 13% over the next five years.

Property Finder has consistently transformed and improved how people buy, sell, and rent homes in the region through its comprehensive listings inventory, trusted user experience, and suite of innovative products powered by technology and AI.

Defining Moment

Property Finder CEO and founder Michael Lahyani said that this partnership represents a defining moment in his company’s journey.

By welcoming Permira and Blackstone alongside General Atlantic as strategic investors, Property Finder was accelerating their mission to reshape real estate across the region through technology, AI, and an industry leading property platform.

“This investment is a clear vote of confidence in Property Finder, in the UAE, and in the vast opportunity ahead. I want to thank our customers and partners, users, regulators, and the incredible Property Finder team whose dedication continues to fuel our growth story,” Michael added.

David Erlong, Partner, Global Co-Head of Consumer at Permira, said that this investment builds on their track record of backing leading digital platforms with powerful network effects and deep consumer engagement.

He said that Property Finder’s scale, technology, and brand trust creates a strong platform to capture long-term growth as the MENA real estate sector digitises.

“For Permira, this investment in the region, following the opening of our Dubai representative office, underscores both our conviction in the market opportunity and our confidence in the significant growth potential of the business, led by an exceptional management team,” David added.

Blackstone Growth’s Senior Managing Director Paul Morrissey said that this investment reflects their confidence in the company’s growth potential and their commitment, together with Permira and General Atlantic, to supporting its mission to make property search and transactions more seamless for consumers and partners alike. It also underscores Blackstone’s long-term conviction to invest in high-quality businesses across the region.

Chris Caulkin, Managing Director and Head of Technology for General Atlantic in EMEA, said that today’s transaction allows them to crystallise part of the value created, while importantly, they remain strongly invested in Property Finder´s future.

Property Finder is well positioned to continue its growth trajectory, and we look forward to partnering with Permira and Blackstone to unlock the next phase of expansion for Michael and the team, Chris said.