Dubai’s Propertyfinder announces it has bought a minority stake in a Turkish property listings start-up, Invest-gate reports.
The Dubai-based portal Propertyfinder bought 16.95 percent stake in Turkish property and information marketing platform Zingat, a statement on Propertyfinder’s website read.
“We are happy to become a shareholder of Zingat. We will work together to make Zingat the most prominent property portal in Turkey by sharing our experience and resources,” says Michael Lahyani, Propertyfinder Group’s founder.
The new investment means that “[Turkish] property professionals will have the opportunity to introduce their inventory in multiple markets including UAE, Qatar, Bahrain, Saudi, Lebanon, Egypt, and Morocco where Propertyfinder group has on the ground operations and a large audience of investors,” states Zingat’s Chairman Izi Adato.
Zingat was founded in 2015 by Ahmet Kayhan and Mehmet Erkek, the duo behind the Dubai-based real estate data provider ReidIn.com, alongside with Turkish conglomerate Doğuş Group.