Permira and Blackstone are to acquire a $525m minority stake in Dubai-based real estate classifieds platform Property Finder, marking a significant vote of confidence in the emirate’s property market, according to a report by Reuters.
As part of the transaction, existing shareholder General Atlantic has partially exited its stake but will remain a key minority investor. The three firms said the partnership will provide Property Finder with expanded global expertise and resources as it accelerates growth across the Middle East and North Africa.
The deal represents Permira’s first investment in the Middle East and follows the opening of its new Dubai office earlier this year, underscoring the firm’s strategic focus on the region. Blackstone’s involvement further highlights the growing interest of global private equity managers in Gulf markets, as they seek proximity to sovereign wealth funds and a growing pipeline of deals.
Founded nearly two decades ago, Property Finder has become a leading real estate platform in the region, competing with players such as Dubizzle and Bayut. The company has recently expanded into Saudi Arabia and Turkey, buoyed by a $90 million debt facility from Francisco Partners last year that enabled it to buy out its first institutional investor.
The investment comes against a backdrop of robust yet cooling property dynamics in Dubai. The emirate’s residential market surged nearly 70% between 2020 and 2024, according to Knight Frank, but Fitch Ratings has warned of double-digit price declines beginning in the second half of 2025.
