Permira and Blackstone are acquiring a $525 million minority stake in Property Finder, the Dubai-based real estate classifieds platform, the firms said in a joint statement. General Atlantic, an early backer since 2018, has sold part of its stake but remains a significant minority shareholder.
The valuation was not disclosed. The transaction is subject to regulatory approvals and will give Property Finder access to the global networks of the three private equity firms. Permira said this is its first investment in the Middle East, following the opening of its Dubai office earlier this year.
Property Finder, founded nearly 20 years ago, is one of the region’s largest real estate platforms, competing with Bayut and Dubizzle. The company received $90 million in debt financing from Francisco Partners in 2024 to buy out its first institutional investor. It has since expanded regionally and is targeting growth in Saudi Arabia and Turkey.
The investment comes as Dubai’s property market remains active after a post-pandemic boom that saw residential prices climb nearly 70% in the four years to December 2024, according to Knight Frank. Fitch Ratings, however, forecast in May that the market may face double-digit price declines in the second half of 2025 and into 2026.
Global private equity firms are increasing their presence in the Gulf to be closer to sovereign wealth funds and a growing pipeline of regional transactions. Both Blackstone and Permira have highlighted the region’s deal flow as a driver for their recent expansion in Dubai.
