Property Finder set to acquire rival JRD Group
By: Sam Bridge / Arabian Business
Real estate classifieds website acquires JRD Group, owner of property portal Justproperty.com and Propspace
UAE-based real estate classifieds website Property Finder has signed an agreement to acquire its competitor JRD Group, owner of property portal Justproperty.com and Propspace.
This acquisition happens only a few months after the investment by General Atlantic in Property Finder and is in line with its strategy to expand the brand in the UAE, a statement said.
As part of the acquisition, iMENA Group will fully exit its investment in JRD Group.
Michael Lahyani, founder and CEO of Property Finder, said: “Property Finder and JRD Group share the same consumer-centric philosophy and vision of further professionalising the real estate market.
"The integration of our products and additional investment in JustProperty.com will provide consumers with better insights to support them in taking property buying or renting decisions.”
Alex Nicholas and Siddharth Singh, JRD Group founders, will stay on board and become shareholders of Property Finder, the statement added.