Latest Emerging Markets Property Group News
Feb 4, 2019
Emerging Markets Property Group raises $100m in Series D round led by KCK Group Emerging Markets Property Group (EMPG). February 4, 2019 Emerging Markets Property Group (EMPG) has raised $100 million in Series D funding led by KCK Group and eight other investors, including Exor Seeds. According to a statement, the funds will be used for acquisition and investment opportunities, technology development, and strengthening its leadership across its MENA and South Asia markets. Imran Ali Khan, Group CEO of EMPG said: “EMPG has grown from strength to strength by adding value to real estate markets through our unique business models and bespoke technology platforms. With the conclusion of this round, we will be looking to expand our geographical footprint.” EMPG is currently in 40 cities across the UAE, Pakistan, Bangladesh, Morocco, Spain and Romania. It is the parent company of several property portals, including Bayut.com in the UAE, Zameen.com in Pakistan, Bproperty.com in Bangladesh, and Mubawab in Morocco. The lead investor of this round, KCK Group is an investment fund which focuses on diverse sectors including life sciences, energy and industrial technologies. EMPG’s other investor, Exor Seeds is an affiliate of Exor, one of Europe’s diversified holding companies with a net asset value of over $24 billion. EMPG has been steadily expanding its market presence via acquisitions in recent months. Last week, EMPG’s Bangladesh property portal, BProperty.com announced it was acquiring Lamudi Bangladesh for an undisclosed amount. Lumudi Bangaldesh was the country’s second largest property portal, consolidating BProperty’s leadership in the market. In May, EMPG acquired Morocco property website Mubawab for an undisclosed sum. Casablanca-based Mubawab was also the market lead in Morocco at that time.