Permira and Blackstone have agreed to acquire a $525 million minority stake in Dubai-based Property Finder, signaling sustained investor interest in the emirate’s real estate market. The deal also includes a partial exit by General Atlantic, which has backed the platform since 2018 and will remain a significant shareholder.
The transaction marks Permira’s first Middle East investment, coming shortly after the firm opened a Dubai office. Property Finder will now benefit from the combined expertise of Permira, Blackstone, and General Atlantic as it looks to accelerate growth across the Middle East and North Africa.
Founded nearly two decades ago, Property Finder has become one of the region’s leading real estate classifieds platforms, competing with Dubizzle and Bayut. It recently expanded operations into Saudi Arabia and Turkey, fueled by last year’s $90 million debt financing from Francisco Partners.
Dubai’s property sector has surged nearly 70% in the past four years, supported by foreign investment and residency reforms. Still, headwinds may be approaching, with Fitch Ratings forecasting a slowdown and potential double-digit declines beginning in late 2025.
Source: Reuters
