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Dubai-based classifieds giant Dubizzle Group acquired homegrown real estate market technology and market intelligence provider Property Monitor, marking its second acquisition this year after it took over Egyptian online car marketplace Hatla2ee according to a statement. The size and value of the transaction were not disclosed.
The plan? To incorporate demand-side data into Property Monitors’ platform, which currently aggregates real-time transaction data, listings, and valuation benchmarks to provide a view of the property market to banks, valuers, developers, investors, and regulators. Its flagship platform, PMiQ, offers instant property valuations, yield analysis, and pricing trends across communities, while its Dynamic Price Index (DPI) is increasingly referenced as a benchmark for Dubai’s residential property performance.The company was founded in 2014 by surveying and property consultancy firm Cavendish Maxwell.
Some KPIs: Property Monitor’s revenues saw a CAGR of 55% from 2022 to 2024. The platform attracts more than 7.7k monthly users, primarily real estate agencies and property developers, the statement reads.
Dubizzle has been expanding its regional footprint: Dubizzle Group, which boasts 47 mn monthly visits and 15 mn monthly users, also has operations in Saudi Arabia through its flagship platforms Bayut and Dubizzle.
REMEMBER- Dubizzle is reportedly eyeing a USD 1 bn IPO in the UAE later this year, having enlisted Emirates NBD, Goldman Sachs, HSBC, and Morgan Stanley on the transaction.
IN OTHER M&A NEWS-
Adnoc Drilling’s JV with Alpha Dhabi, Enersol, has completed the acquisition of a 95% stake in US-based energy tech firm Deep Well Services (DWS) for approximately USD 223 mn, according to a Linkedin post. This has been in the works since last year. The new addition to Enersol’s portfolio will help support Adnoc Drilling’s recent USD 1.7 bn contract to deliver 144 unconventional wells to Adnoc Group.
This is two months after Enersol wrapped up its acquisition of a majority 51% stake in manufacturing solutions provider NTS Amega from Alpha Dhabi. Enersol plans to invest another USD 750 mn in acquisitions of oilfield services tech firms in 2025, Adnoc Drilling CFO Youssef Salem told us in January. The JV acquired stakes in four firms last year, including manufacturing solutions provider NTS Amega, oil engineering firm Gordon Technologies, Deep Well Services, and EV Holdings.
