Property Finder raises $170M led by Mubadala to build the region's leading real estate operating system, powered by AI and data innovation
Dubai's Property Finder just locked in another major funding round, this time pulling in $170 million led by Abu Dhabi's Mubadala Investment Company. The deal also includes another UAE sovereign wealth fund and BECO Capital, marking one of the biggest investment stories in MENA tech this year. Mubadala and the second sovereign fund are each putting in $75 million, while BECO Capital is committing $20 million from its newly launched $250 million Growth Fund I. For BECO, this is actually a homecoming of sorts, they were Property Finder's very first VC investor over a decade ago.
This latest injection brings Property Finder's total fundraising to almost staggering levels. The company raised $525 million just last September in a round led by Permira with Blackstone Growth joining in. Add in $250 million in debt financing from Ares Management and HSBC, and you're looking at nearly $1 billion in combined equity and debt capital. That's massive by any standard, but especially for the region.
The timing makes sense when you look at what's happening in Dubai's property market. The emirate saw record transaction volumes last year, over 270,000 deals worth about AED 917 billion according to Dubai Land Department data. That's a 20% jump from the previous year, with around 130,000 new investors entering the market. Property Finder has been building more than just a listings site. The platform now offers AI powered tools like Credit Optimizer, Home Valuation, and something they call SuperAgent. They've also partnered with companies like Stake and Keyper to cover more of the property buying journey, from search to financing.
Michael Lahyani, who founded Property Finder back in 2007, said the investment validates both their platform's strength and their business model's resilience. "We are honoured to welcome Mubadala and our new sovereign wealth fund partners at such an important moment in our journey," he noted in a statement. General Atlantic originally invested in Property Finder back in 2018 and still holds a significant stake even after trimming their position during the September deal. The fact that both international players like Permira and Blackstone, and now local sovereign funds, are backing the company says something about confidence in MENA's proptech sector.
Bakheet Al Katheeri, CEO of Mubadala's UAE investments platform, framed the investment as supporting "national champions and high growth technology platforms." That language suggests Mubadala sees Property Finder as more than just a classifieds site they're betting on it becoming the region's essential real estate infrastructure. Property Finder says the fresh capital will help them build what they're calling "the region's leading real estate operating system." The company connects millions of property seekers with thousands of real estate professionals daily across the UAE and broader MENA region.
With this kind of backing and the continued strength of the Gulf's property markets, Property Finder is clearly positioned to dominate the space for the foreseeable future. The question now is how they'll use this capital to stay ahead as competition heats up and whether they can maintain their momentum as markets eventually normalize.
