- Propertyfinder Group's Moroccan portal, Sarouty.ma, becomes the dominant player with over 65% of market share
- Combined entity will have over 1.5 million page views a month
- First acquisition since $20 million fund raise from Vostok New Venture
- Consolidates its position as number one in 5 of its 7 operating countries
Propertyfinder Group (the 'Group') through its Moroccan subsidiary Sarouty.ma completed its acquisition of the property portal Selektimmo for an undisclosed sum on the 23 June 2016.
Launched in 2008, Selektimmo is the oldest online real estate portal in Morocco. The acquisition will see Sarouty.ma consolidate its number one position in the online real estate sector, taking its market share to over 65% and gives it a greater footprint in one of the fastest growing markets in North Africa.
"This acquisition comes at a strategic time for our business as we aim to consolidate our position as the leading online real estate portal across our markets. The acquisition of Selektimmo has enabled us to become the dominant player in Morocco, a fast growing and competitive marketplace," said Michael Lahyani CEO & founder of the group.
Sarouty.ma has more than 30,000 listings from selected real estate agencies, developers, and a portfolio of 200 clients from the industry. Combined with Selektimmo, it will have over 50,000 listings and it will generate 500,000 monthly visitors, more than 1.5 million page views and connect 20,000 house hunters to brokers and developers.
"We believe this acquisition is the next logical step in the evolution of the online real estate sector in Morocco by providing scale to compete in a marketplace of over 30 million people," commented Emmanuelle Boleau, founder of Selektimmo.
"We are excited about this acquisition and the unique opportunities that our two companies can bring to the market," added Ismael Belkhayat, General Manager of Sarouty.ma. "Selektimmo's footprint and Sarouty.ma's advanced technology will allow us to deliver better returns for our trusted partners, real estate agents and developers; and drive our vision of leading the Moroccan online real estate sector for years to come."
This strategic acquisition has allowed Propertyfinder Group to secure the leading position in Morocco, becoming the fifth market that the Group is number one.
-Ends-
About Propertyfinder Group
Founded over ten years ago Propertyfinder Group has been providing the tools to help consumers find the properties that fit their needs. Propertyfinder Group works with brokers to list properties in one convenient site, and make it easier to see all of the information about those properties while browsing from your desktop or on the move. Each month, Propertyfinder Group has over one million users visit the websites, generating over 300,000 leads for agents and developers.
The group operates in 7 markets: Morocco, Qatar, Lebanon, KSA, UAE, Bahrein and Egypt.
Visit us at: www.propertyfinder.ae
About Sarouty.ma
Founded in 2014 by Ismael Belkhayat, Sarouty.ma became in less than 2 years the leading real estate portal in Morocco. The portal offers hundreds of real estate listings for rent or sale across Morocco, including apartments, villas and offices. With its real time market price calculator and interactive map search, Sarouty.ma provides viewing with an easy and fast browsing experience.
Visit us at: www.sarouty.ma
About Selektimmo
Selektimmo.com is real estate portal dedicated to property listings in Morocco managed by the company SCDI. Selektimmo.com is a bilingual (English / French) real estate portal based in Morocco. Diffusing Moroccan commercial and private use real estate offers internationally as well as providing information and services on an innovative technical platform.
Selektimmo's vocation is to enable, with total neutrality (Selektimmo.com is not an agency or a property developer), interaction concerning offers and demands on a professional platform that multiplies opportunities and accelerates sale transactions as well as property rentals.
Visit us at www.selektimmo.com/
For media enquiries:
Brunswick
Jade Mamarbachi
propertyfinder@brunswickgroup.com
+971 4 446 6270
Press Release 2016
