Permira and Blackstone Inc are purchasing a $525 million minority stake in Dubai’s classifieds company, Property Finder, as announced in a joint statement on Tuesday, highlighting ongoing investor interest in Dubai’s real estate market.
General Atlantic, a supporter of Property Finder since 2018, is partially exiting but will still hold a significant minority position, according to the statement.
This investment will enable Property Finder to leverage the global expertise of Permira, Blackstone, and General Atlantic, as it expands its platform aimed at growth in the Middle East and North Africa real estate markets, the companies stated.
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The companies did not reveal the transaction’s valuation, which awaits standard regulatory approvals.
This marks Permira’s inaugural investment in the Middle East, following the recent opening of its office in Dubai’s financial district.
Global private equity firms are increasingly setting up in the Gulf to connect with sovereign wealth funds and tap into a growing pool of regional deals.
Property Finder, founded nearly 20 years ago, is a leading real estate classifieds platform in the region, competing with Dubizzle and Bayut.
Last year, Francisco Partners provided $90 million in debt financing to enable Property Finder to buy out its initial institutional investor. The platform has since expanded and now seeks growth in Saudi Arabia and Turkey.
Dubai, the Gulf’s business and tourism hub, has seen a property boom post-pandemic, spurred by foreign investments and government residency reforms.
Residential real estate prices rose nearly 70% over the four years to December 2024, as per Knight Frank.
However, this growth may be slowing. Fitch Ratings predicted double-digit price drops in Dubai’s housing market for the second half of 2025 and into 2026 in a May report.
