Dubai-based real estate platform Property Finder sells a $525 million minority share to Blackstone and Permira
Dubai's Real Estate Market Attracts Global Investors
Dubai, the bustling hub of business and tourism in the Gulf, is currently experiencing a post-pandemic property boom, thanks to foreign investment and government-led residency reforms. The latest evidence of this growth can be seen in the $525 million minority stake acquisition of Dubai-based classifieds firm, Property Finder, by Permira and Blackstone Inc.
Property Finder, a leading real estate classifieds platform in the region, has been a mainstay for over two decades. It competes with Dubizzle and Bayut in the market. This investment, conducted by Permira and Blackstone, marks General Atlantic's partial exit but retains the firm as a significant minority shareholder.
The deal signifies continued investor appetite in Dubai's real estate market, a trend that has been growing as global private equity firms expand their presence in the Gulf region. Permira, in particular, has made its first foray into the Middle East with this investment.
The transaction will provide Property Finder with access to the global expertise of Permira, Blackstone, and General Atlantic. This partnership aims to help the company expand its platform and target growth across the Middle East and North Africa real estate market.
Property Finder has already shown a commitment to increasing transparency in Dubai's real estate market through an MoU with the Dubai Land Department (DLD). The company has also been expanding regionally, with a focus on growth opportunities in Saudi Arabia and Turkey.
Last year, Francisco Partners provided $90 million in debt financing to Property Finder to help the company buy out its first institutional investor. However, the details of each private equity firm's specific roles or contributions in the deal have not been disclosed.
While the property market rally shows no signs of slowing down currently, there are indications that it may be cooling. Fitch Ratings has forecasted double-digit price declines in Dubai's housing market in the second half of 2025 and into 2026. This potential cooling could be a factor for investors to consider as they navigate the Dubai real estate market.
The deal is subject to customary regulatory approvals. The second edition of Mo'asher, launched by DLD and Property Finder, is not specified in this paragraph. The previous edition aimed to increase transparency in Dubai's real estate market, providing valuable insights for buyers, sellers, and investors.
This article does not provide details on any potential stake by Blackstone Inc in a US TikTok spinoff, a separate matter from the Property Finder deal. Nonetheless, the investment in Property Finder underscores Blackstone's confidence in the potential of Dubai's real estate market.
As Dubai continues to attract foreign investment and implement reforms, the city's real estate market is poised for continued growth and development. The investment in Property Finder is a testament to this potential and the interest of global investors in tapping into the opportunities in the region.
