Leading Turkish property portal Hürriyet Emlak has just announced an undisclosed capital investment from Goldman Sachs. The investment bank will become a minority shareholder in the site, once the deal has been approved by the local competition authorities.
In a press statement announcing the news, Hürriyet Emlak said it’s considering using the fresh funding to expand in Europe and the Middle East. It added that Goldman Sachs chose to invest in the site because of its financial strength, innovative products and services, its services network, its technological infrastructure and its reliability.
Board chairperson Vuslat Doğan Sabancı (LinkedIn profile) said the investment is a big step for the local real estate sector. The company plans to use some of the capital to strengthen the real estate ecosystem it’s created.
Hürriyet Emlak was founded in 2006. It says the investment won’t mean any changes in its structure or operations.
The vertical appointed former Property24 CPO Theo Mseka as its CEO in September. The company’s chief sales officer Çağrı Bozay (Linkedin Profile) spoke to the AIM Group about the company’s new business model in October.