The Group has been operating through Propertyfinder.bh in the Bahrainmarket for over five years, making its foray into the country in 2013.
This acquisition comes a few months after Property Finder raised $120 million in funding from private equity firm General Atlantic in November 2018.
Michael Lahyani, CEO and Founder of Property Finder Group, said: “This is one of three high-powered strategic moves since closing our latest round of investment led by General Atlantic. The first being the increase in our share in Turkish portal
Lahyani added that this was another milestone that would help the Property Finder Group to further expand its footprint in the Middle East and North Africa.
“Property professionals in Bahrain will have the opportunity to introduce their inventory in multiple markets where Property Finder Group has on-the-ground operations and a large audience of investors,” the CEO and Founder said.
Steven Filipowicz, Founder of Bahrain Property World, will continue to play a role and be involved in the day-to-day operations of the combined entity.
Lahyani said the acquisition would provide an opportunity to promote Bahrain property to Middle Eastern investors. ”It is also a testament of the potential growth that we expect from the country, where we want to continue to bring the best real estate listings and data to Bahrain citizens and residents.”
“This is an exciting new chapter for my family and I. As a company, we are happy to join the Group and benefit from the vast experience, knowledge, extensive MENA network, advanced technology guidance and expertise that the Group of portals will provide to us. We look forward to an exciting future of synergies with Property Finder in Bahrain,” said Filipowicz.