Permira and Blackstone have announced their acquisition of a $525 million minority interest in Property Finder, a classifieds company based in Dubai. This investment indicates a sustained interest from investors in the emirate’s real estate sector.
As a result of this deal, General Atlantic, which has been a stakeholder in Property Finder since 2018, will reduce its stake but continue to hold a significant minority position, as stated in the announcement.
This collaboration aims to leverage the international expertise of the three private equity firms—Permira, Blackstone, and General Atlantic—as Property Finder expands its platform and seeks growth opportunities across the real estate markets of the Middle East and North Africa, according to the joint statement.
The exact valuation for the transaction was not disclosed, as it awaits standard regulatory approvals.
This investment represents Permira’s inaugural venture in the Middle East, following the opening of its Dubai office earlier this year.
International private equity firms are increasingly looking to establish operations in the Gulf region to engage more directly with sovereign wealth funds and take advantage of the expanding array of local investment opportunities.
Dubai, recognized as a center for business and tourism in the Gulf, has seen a significant property market upswing following the pandemic, driven by foreign investments and governmental initiatives to reform residency regulations.
Residential property prices have reportedly risen nearly 70% over the past four years, as noted by Knight Frank.
Nonetheless, there are indications that the market may be stabilizing. A report from Fitch Ratings in May predicted potential double-digit declines in Dubai’s housing prices in the latter half of 2025 and into 2026.