Technology

Zameen Group acquires the largest property portal of Morocco

Pakistan’s largest online property portal Zameen’s parent company Emerging Markets Property Group (EMPG) which is headquartered in Dubai has acquired Morocco’s largest property portal Mubawab. Zameen Group owns and operates all the market leading property portals of Asia including Pakistan’s Zameen, Dubai’s Bayut, and Bproperty in Bangladesh.

Zameen.com was founded in 2006 by two Pakistani entrepreneur brothers, Zeeshan and Imran Ali Khan. After 10 years, in 2016, Zameen announced it had raised $20 million in its series venture round. The investment then went into EMPG which later founded UAE’s Bayut and Bproperty for Bangladesh. Zameen group was initially free for all websites but later it shifted to a paid model. The company now generates its income by selling advertising space on its website and also has a magazine.

Zameen Group’s latest venture, Morocco’s largest website, “Mubawab” was founded in 2011 by entrepreneurs Kevin Gormand and Toni Puig. The company has grown to become the largest real estate website in Morocco. It has expanded operations to several cities and is now registering strong growth across all metrics, including revenue. The online property portal has also created a significant brand presence in Morocco.

Haider Ali Khan, CEO of Bayut.com and responsible for EMPG’s international expansion and operations says,

“We believe Mubawab’s core strength is its people, and we are happy that they will continue to lead the charge. Kevin and Toni have built a great team, and they are the best people to carry the portal into this new phase of rapid development and consolidation under the EMPG umbrella, The Group will be injecting a substantial amount of funds and expertise into Mubawab, with the singular aim of driving exponential growth across all metrics.”

Kevin Gormand, the CEO of Mubawab, says,

“We are very excited about this partnership and see a clear path to consolidating the market in the near future. EMPG has done a fantastic job in similar markets and we look forward to leveraging the infrastructure and tools to help us achieve the same in Morocco.”

With Zameen Group financing the Mubawab’s founders, the website will continue to lead the portal as it injects capital and introduces its data-driven strategy and technology.

Sponsored
Mohammad Jamal

Mohammad Jamal is a technology writer whose expertise lies in writing news and review articles. He is a software engineer from Lahore and is currently using a Huawei Mate 10. Reach out to him at mohammad.jamal@techjuice.pk and Facebook: mohammad.jamal93.

Share
Published by
Mohammad Jamal

Recent Posts

VPN Ban Could Cost Pakistan’s IT Industry $1 Billion, Warns P@SHA

The Pakistan Software Houses Association (P@SHA) has raised alarms about the severe impact of the…

12 hours ago

WhatsApp Trials Group Chat Mentions in the Latest Status Update Feature

WhatsApp is rolling out a new feature in its latest Android beta version, allowing users…

12 hours ago

PTA Chairman Confirms No Orders for Mobile Service Shutdown

ISLAMABAD: Chairman of the Pakistan Telecommunication Authority (PTA), Major General (retd) Hafeez-ur-Rehman, confirmed that no…

13 hours ago

35,000 Students to Receive Free Laptops Under Punjab Government Scheme

Punjab Chief Minister Maryam Nawaz Sharif has announced the launch of a new initiative aimed…

14 hours ago

Meta Introduces New Features to Messenger: AI Backgrounds, HD Video Calls, and More

Meta has unveiled a set of new features for Facebook Messenger, designed to improve call…

15 hours ago

PTA Seeks Stakeholder Input on VPN Registration

Islamabad (21st November 2024): PTA hosted a stakeholder consultation on VPN registration, with key participants…

16 hours ago