UAE listings company EMPG acquires Moroccan property site

UAE-based Emerging Markets Property Group (EMPG) said on Tuesday it had acquired Morocco’s largest property portal Mubawab.

EMPG, which owns and operates property listings sites including the UAE’s Bayut, Pakistan’s Zameen and Bproperty in Bangladesh, said Mubawab’s founders Kevin Gormand and Toni Puig will continue to lead the company.

Bayut CEO Haider Ali Khan said the company would inject capital and introduce its “data-driven strategy and technology”.

“Kevin and Toni have built a great team, and they are the best people to carry the portal into this new phase of rapid development and consolidation under the EMPG umbrella,” he said.

“The group will be injecting a substantial amount of funds and expertise into Mubawab, with the singular aim of driving exponential growth across all metrics.”

Mubawab was founded in 2011 and has as since grown to become the largest real estate vertical in the country, according to the announcement.

Its operations now span several cities and include television campaigns.

The value of the transaction was not disclosed.