Bayut is a UAE-base
property
website and a part of the

Emerging Markets Property Group ''Emerging'' is the title of the only album by the Phil Keaggy Band, released in 1977 on NewSong Records. The album's release was delayed due to a shift in record pressing plant priorities following the death of Elvis Presley. The album was re ...

that hosts real estate listings for residential and commercial properties across the UAE's seven emirates.

History

Bayut was founded in 2008 by the brothers Zeeshan and Imran Ali Khan, following their launch of

Zameen.com Zameen.com (, ur, ) is an online property portal in Pakistan that lists real estate dealers, developers, agencies, and properties for sale and rent. The company is headquartered in Lahore, Pakistan, has offices in 30 cities across Pakistan, ...

in Pakistan. Their elder brother, Haider Ali Khan, became company CEO in 2014, and began an investment drive. After Bayut parent company EMPG raised substantial funds of $100 million in early 2019, led by KCK Group, a Californian investment company Bayut acquired the Middle East assets of

Lamudi Lamudi is an online real estate marketplace with operations in 34 countries. History Lamudi was founded by Rocket Internet in 2013. Lamudi rebranded Vamido (Nigeria), Ubilista (Mexico) and Zamudi and House (Asia) into Lamudi in October 2013. I ...

, which operated in the UAE, Saudi Arabia and Jordan, and itself expanded into

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia ...

. The same year, Chris Hemsworth starred in a Bayut commercial. In April 2020, EMPG and the Netherlands-based OLX Group announced a merger of their businesses in the UAE, Egypt, Lebanon, Saudi Arabia, Kuwait, Qatar, Bahrain, Pakistan and Oman, together with the OLX-owned Dubai-based classifieds website, Dubizzle. In May 2020, EMPG further acquired Lamudi Global, with assets in the Philippines, Mexico and Indonesia.

Investment

Bayut is one of the GCC region's most well-funded tech startup companies. Its parent company, Emerging Markets Property Group, has raised a total of $310 million over several investment rounds. They were backed seasoned investors such as KCK Group and Exor Seeds, fuelling Bayut's expansion and growth in the Middle East. In April 2020, EMPG raised $150 million in its latest investment round, taking the group's valuation to $1 billion.{{Cite web, title=Property portal Bayut's parent company secures $150m investment, url=https://www.thenational.ae/business/economy/property-portal-bayut-s-parent-company-secures-150m-investment-1.1012103, access-date=2020-08-17, website=The National, language=en

References

External links

Official Site
Internet properties established in 2008 Real estate websites Companies based in Dubai Emirati websites Emirati companies established in 2008 Real estate companies established in 2008