Zingat.com, a real estate site established by Dogus Group and Reidin in Turkey in 2015, landed its first investor – and nothing less than the UAE-based Propertyfinder.

According to a news release of Zingat, Propertyfinder got 11.86 percent of Zingat in exchange of a capital injection of 7.4 million TL ($2.1 million U.S.).     

Zingat listings to get Middle East-wide exposure

According to the news release, the money will be used, among others, for an initiative to give Zingat listings exposure outside the borders of Turkey with the help of Propertyfinder. Izi Adato, chairman of the executive board of Zingat and advisor of Dogus Group, said, “the investment by Propertyfinder gives Zingat the big and important opportunity to expose Turkish properties to property buyers in the Middle East.” 

Propertyfinder is active in UAE, Qatar, Lebanon, Egypt, Morocco, Bahrain, and the Kingdom of Saudi Arabia (KSA).

According to Ahmet Kayhan, CEO of Zingat.com, the site receives more than six million unique visitors per month, and more than 18,000 real estate agents are member clients. The website keeps growing: in January, the site only had 4.5 million unique visitors, and passed the 2,000-mark with its listings. 

Michael Lahyani, founder and CEO of Propertyfinder Group, will get a seat on the board of Zingat.com. Lahyani said, “we’ve been following from Dubai the site Reidin established together with Ahmet Kayhan and Mehmet Erkek. We are happy to join Zingat.com, a co-project of Reidin and Dogus Group.”

He added: “We will back them up with our resources, experience, and vision to make Zingat one of the important real estate websites in Turkey”.

We acknowledge the source of the above quotes as Webrazzi.com. 

Note: Ahmet Kayhan, CEO of Zingat.com, is on the program of the next PPW Conference in Lisbon 2017 as a speaker, together with Lahyani of Propertyfinder Group. (Here to the list of confirmed speakers.) 

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