Dubizzle Group buys UAE's Property Monitor portal amidst IPO talks

Dubai: The Dubizzle Group, which is in the digital classifieds space, has bought Property Monitor, the UAE-based property platform. The deal comes at a time when Dubizzle is seen as a prime candidate to go for an IPO in the UAE.

The Property Monitor buy 'reinforces Dubizzle Group’s leadership in real estate classifieds and technology'. The latter's verticals inclue Bayut and dubizzle.

"Integrating Property Monitor into Dubizzle Group’s real estate offering enhances the value proposition for agencies and developers by delivering a more comprehensive and data-rich user experience," said a statement.

Property Monitor offers regular market reports and automated valuations of Dubai property market dynamics. Clients include the real estate agencies and developers and has more than 7,700 monthly users. 

The platform has 'established itself as a critical tool within the UAE real estate ecosystem for property data, analytics and insights'.

Dubizzle Group plans to add to the Property Monitor product suite by 'incorporating demand-side data, creating avenues for deeper client engagement'.

“This acquisition unlocks new opportunities to enhance the value that Bayut and dubizzle deliver to real estate agents and developers, while reinforcing Dubizzle Group’s position as a leading destination for real estate classifieds in the UAE," said Haider Ali Khan, CEO of Dubizzle Group – UAE.

The announcement marks Dubizzle Group’s third acquisition in two years -in 2024, it acquired Hatla2ee, a leading marketplace in Egypt for used and new cars.

There was also the buy of Drive Arabia, the automotive news, reviews and car comparisons portal.

Together, the Dubizzle Group portals draw 47 million monthly visits and 15 million monthly users.

In the recent past, there have been quite a few deals in the Dubai and UAE real estate services space. Brokerage firms have been bought to help with consolidation, and there was also the one where real estate consultancy Cushman & Wakefield bought Dubai-based Core.