Mubawab acquires Jumia House in Morocco, Tunisia and Algeria

Mubawab, Morocco’s leading real estate portal acquired by EMPG in May 2018, has announced the
acquisition of Jumia’s acclaimed property listings website Jumia House for the North African
(specifically Morocco, Tunisia and Algeria) region.
“The acquisition consolidates Mubawab’s position as the region’s leading real estate website, while
providing access to the most promising real estate markets in the Maghreb, with more than 90
million people,” a company spokesperson said in a statement.
EMPG’s award-winning online property portals portfolio, now expanded with Jumia House’s group
integration, includes UAE’s Bayut, Pakistan’s Zameen, Bangladesh’s Bproperty, and Lamudi (GCC and Bangladesh).
Mubawab CEO and Co-Founder Kevin Gormand, while commenting on this development, said, “We
believe strongly in our ability to provide real estate solutions to customers through our sophisticated
platform. We are excited to build on our success and experience in Morocco to provide a broader
platform, maximizing consumer reach and visibility while providing personalized and local support to
our customers.”
Sacha Poignonnec, Jumia co-Founder and co-CEO, said, “We believe in the potential of real estate
portals in Africa and we have built a great platform across Morocco, Tunisia and Algeria to seize this
opportunity. We are confident that Mubawab will sustain the success that Jumia House has had in
these markets.”
“This transaction allows us to focus on our core business of our marketplace while expanding the
scope of our payment and logistics business,” he added.
As of now, Jumia House, in each one of the markets stated, is redirecting to Mubawab’s local
website channels.

EMPG’s Bayut acquires Lamudi’s GCC business, eyes Saudi expansion

Bayut, the leading online property portal in the UAE, has announced that it has acquired the GCC
business of Rocket Internet/Middle Eastern Internet Group’s Lamudi in a landmark deal that will see
Bayut take ownership of all Lamudi assets in the GCC, including its portals in Saudi Arabia, Jordan,
and the UAE.
Middle East Internet Group launched as the first real estate portal in Saudi Arabia in 2012,
followed by in Jordan. In 2015, was launched in the UAE.
The financial details of the acquisition were not disclosed. Bayut’s parent company, UAE-based
EMPG, also owns in Pakistan, Bproperty in
Bangladesh, and Mubawab in Morocco, and has business presence in Spain and Romania as well.
The group successfully closed a $100 million Series D investment round earlier this year.
“Today is a very exciting day for us, as we embark on a new journey to start solving real estate issues
for the largest market in our region. Our extensive experience in similar markets puts us in a unique
position to provide both clients and end-users with a highly sophisticated product that is built to
address their needs. We aim to be a partner to them in their journey of buying or selling a home,”
said Bayut CEO Haider Ali Khan.
He said further that EMPG aims to aggressively grow and establish itself as the most dominant real
estate classifieds solution in the GCC. The group currently employs a workforce of 2,000 people
across all its markets, and receives close to 10 million visits on its websites every month, generating
around 70 million page views and over 2 million customer inquiries in the same timeframe.
“With a network of our sites operating in the region, we are also very well placed to maximize
consumers’ reach and clients’ exposure across a broader region. Our brand name, Bayut, means
‘homes’ in Arabic and our story is a very local one, and this is another step in making our brand a
household name in the natively Arabic-speaking region. With our experience and ability to deploy
significant capital effectively, we are very well placed to solve problems in the real estate markets of
the region through technology,” Khan said.
“Bayut has always focused on providing the most locally-tuned solution to the market, and the
intention behind this acquisition is to take the group’s philosophy to the greater GCC region, with a
focus on Saudi Arabia,” he added.

EMPG raises $100M Series D investment

EMPG, the parent company of market-leading property portals in the MENA and South Asia regions, has announced that it has closed a $100 million investment in its latest and largest round of funding.

EMPG’s round was led by KCK Group while eight other investors, including Exor Seeds, participated in the round.

KCK Group is an investment fund which focuses on diverse sectors including life sciences, energy and industrial technologies. Exor Seeds is affiliated with Exor, the holding company controlled by the Agnelli family. Exor is one of Europe’s leading diversified holding companies with a net asset value of over $24 billion, and a portfolio including distinguished names such as Ferrari, Fiat Chrysler Automobiles, Juventus FC and The Economist.

EMPG owns and operates in the UAE, in Pakistan, in Bangladesh, and Mubawab in Morocco. The group is present in 40 cities across the UAE, Pakistan, Bangladesh, Morocco, Spain and Romania, with over 2,000 employees.

Group CEO Imran Ali Khan said the funds raised by EMPG would be used for acquisition and investment opportunities, further technology development, and to further strengthen all portals’ position as top players in their respective markets.

“EMPG has grown from strength to strength by adding value to real estate markets through our unique business models and bespoke technology platforms, and with the conclusion of this round we will be looking to expand our geographical footprint,” he added.

To date, EMPG has raised a total of $160 million, making it the highest funded real estate tech company in the region. buys Lamudi Bangladesh, the top online real estate marketplace in Bangladesh, has announced that it has fully acquired, the number two property portal in the country. is owned and operated by EMPG, which also owns top UAE property portal, Pakistan’s largest portal, and Morocco’s market leader Mubawab.

CEO Mark Nosworthy said the move was aimed at strengthening and consolidating’s position within the country’s real estate sector.

“This is a milestone in the real estate market in Bangladesh. Bproperty’s complete real estate solution gives consumers advice, expertise as well as the market transparency they require in order to make the right decision when it comes to engaging with the real estate industry,”