Dubai-based Property Finder has secured a $525M investment from Permira and Blackstone

Property Finder, a Dubai-based real estate marketplace, has raised a $525 million investment from global investment firms Permira and Blackstone, reflecting strong investor confidence in Middle East property markets. The substantial stake was purchased from existing backer General Atlantic, which retained a considerable portion of its original stake acquired in 2018, while the new investment renews Property Finder’s valuation to exceed $2 billion.

The investment comes amid remarkable growth in Dubai’s real estate market, where property prices have experienced significant appreciation over the past two decades. According to Reidin data, the selling price per square foot in Dubai has nearly tripled from $163 in 2003 to $490 in 2025, driven by the UAE’s expanding population and relaxed visa policies that encourage foreign workers to establish longer-term residence.

Michael Lahyani, founder of Property Finder, attributed the accelerated growth to demographic shifts but expects moderation ahead. “The UAE’s expanding population has primarily driven accelerated growth in real estate valuations (20% per annum) in recent years, but that this will slow considerably to a more sustainable number in the next year or two,” he said. The market has also benefited from increased migration to the Middle East, including individuals relocating due to geopolitical concerns stemming from Russia’s invasion of Ukraine.

Property Finder operates across multiple Middle Eastern markets, including the UAE, Saudi Arabia, Qatar, Bahrain, and Egypt, while maintaining a shareholding in Turkish portal Hepsiemlak. The company has achieved unicorn status while maintaining profitability, distinguishing it from many high-growth technology companies that prioritize expansion over immediate financial returns.

Paul Morrissey, head of Blackstone Growth in Europe, expressed strong confidence in the regional opportunity. “We’re huge believers in the Gulf region, the UAE, Dubai in particular. [The region] has a huge way to run,” he said, indicating sustained investor appetite for Middle Eastern real estate technology platforms.

Despite achieving significant scale and profitability, Lahyani has expressed reluctance about pursuing public markets, characterizing a potential flotation as “a last resort for companies that have exhausted private investment tactics.” This stance reflects the company’s preference for private capital and strategic flexibility over public market pressures.

The investment represents continued consolidation activity for Permira and Blackstone, who previously led a consortium to acquire marketplaces conglomerate Adevinta for $13.8 billion in 2024. Their entry into Property Finder signals growing institutional interest in Middle Eastern technology platforms and confidence in the region’s long-term growth trajectory.

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