Emerging Markets Property Group (EMPG), the parent company of market-leading property portals in the MENA and South Asia regions, has announced that it has closed a $100 million investment in its latest and largest round of funding.
EMPG’s round was led by KCK Group while eight other investors, including Exor Seeds, participated in the round.
KCK Group is an investment fund which focuses on diverse sectors including life sciences, energy and industrial technologies. Exor Seeds is affiliated with Exor, the holding company controlled by the Agnelli family. Exor is one of Europe’s leading diversified holding companies with a net asset value of over $24 billion, and a portfolio including distinguished names such as Ferrari, Fiat Chrysler Automobiles, Juventus FC and The Economist.
EMPG owns and operates Bayut.com in the UAE, Zameen.com in Pakistan, Bproperty.com in Bangladesh, and Mubawab in Morocco. The group is present in 40 cities across the UAE, Pakistan, Bangladesh, Morocco, Spain and Romania, with over 2,000 employees.
Group CEO Imran Ali Khan said the funds raised by EMPG would be used for acquisition and investment opportunities, further technology development, and to further strengthen all portals’ position as top players in their respective markets.
“EMPG has grown from strength to strength by adding value to real estate markets through our unique business models and bespoke technology platforms, and with the conclusion of this round we will be looking to expand our geographical footprint,” he added.
To date, EMPG has raised a total of $160 million, making it the highest funded real estate tech company in the region.