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.