Bayut

Bayut is a UAE-based real estate search engine for buying, selling, and renting residential and commercial properties across the country's seven emirates.[2] The website also provides users with a tool to calculate commute times from listed properties to destinations, and shows nearby schools, hospitals, and restaurants.

Bayut
Type of site
Online property portal
Available inEnglish, Arabic
Founded2008
HeadquartersDubai, United Arab Emirates
Founder(s)Zeeshan Ali Khan
Imran Ali Khan
CEOHaider Ali Khan[1]
IndustryReal Estate & Internet Marketing
Employees200+
ParentEmerging Markets Property Group (EMPG)

Bayut is part of the Emerging Markets Property Group that is responsible for Zameen.com in Pakistan, BProperty.com in Bangladesh,[3] Mubawab in Morocco and Tunisia,[4] and Kaidee in Thailand.[5]

History

Bayut was founded in 2008 by the Khan brothers Zeeshan, Imran, and Haider, following their launch of Zameen.com in Pakistan.[6] The company started in a home in Northolt, London, with no physical presence in the UAE.[7] The three brothers built the site while retaining their daily jobs. In 2014, Haider quit his job and took over as the company CEO.[8]

In February 2019, the parent company EMPG closed its Series D round of funding, raising $100 million, led by KCK Group, a California-based investment company.[9][10] The same year, Bayut acquired the Middle East assets of Rocket Internet’s Lamudi,[11] which operated in the UAE, Saudi Arabia, and Jordan,[12][13] and itself expanded into Saudi Arabia.[14]

In April 2019, Bayut launched the authentication solution TruCheck at their inaugural real estate summit, the Bayut Big Broker Event.[15][16] The solution helps buyers determine the availability and validity of a listing.[17] In September 2019, Chris Hemsworth starred in a Bayut commercial.[18]

In April 2020, EMPG and the Netherlands-based OLX Group announced the merger of their operations in the UAE, Egypt, Lebanon, Saudi Arabia, Kuwait, Qatar, Bahrain, Pakistan, and Oman, together with the OLX-owned Dubai-based classifieds website, Dubizzle.[19][20]

In May 2020, EMPG further acquired Lamudi Global, with assets in the Philippines, Mexico, and Indonesia.[21][22]

In January 2022, the Dubai Land Department signed a memorandum of understanding with Bayut to provide Dubai’s real estate market with interactive data and reports.[23][24][25]

References
  1. Leon, Pamella de (2022-11-15). "Dubai-Based Emerging Markets Property Group, Owner Of Bayut And Dubizzle, Raises US$200 Million Ahead Of An IPO "In The Near Future"". Entrepreneur. Retrieved 2023-03-12.
  2. "Bayut continues on a steady upward trajectory with record-breaking traffic of over 3 Million sessions recorded in October 2019". Construction Business News Middle East. 2019-11-28. Retrieved 2020-08-17.
  3. Reporter, A. Staff. "Tech unicorn Bayut-dubizzle opens new office at Dubai Design District". Khaleej Times. Retrieved 2023-03-12.
  4. Paracha, Zubair Naeem (2019-02-03). "Dubai-based property website Bayut.com's parent company raises $100 million Series D". MENAbytes. Retrieved 2023-03-12.
  5. "Dubai-based EMPG acquires Thai online retailer Kaidee". DealStreetAsia. Retrieved 2023-03-12.
  6. "Entrepreneur of the Week: Haider Ali Khan of Bayut.com". ArabianBusiness.com. Retrieved 2020-09-18.
  7. Hariharan, Sindhu (2018-04-18). "Closing The Gap: Bayut.Com Is Making Its Presence Felt In the UAE Property Tech Race". Entrepreneur. Retrieved 2023-03-12.
  8. "UAE's Bayut Secures Investment". Property Portal Watch. 7 January 2015. Retrieved 26 February 2015.
  9. "Property portal Bayut's parent company raises $100 million". The National. Retrieved 2020-08-17.
  10. "Bayut.com parent company closes $100m investment in latest funding round". ArabianBusiness.com. Retrieved 2020-08-17.
  11. "UAE's Bayut acquires real estate portal Lamudi". The National. Retrieved 2020-08-17.
  12. Nagraj, Aarti (2019-04-09). "UAE property portal Bayut buys Lamudi Middle East". Gulf Business. Retrieved 2020-08-17.
  13. Paracha, Zubair Naeem (2019-04-09). "Dubai's Bayut acquires Rocket Internet's property portal Lamudi in UAE, Saudi & Jordan to fuel its expansion across GCC". MENAbytes. Retrieved 2023-03-12.
  14. "Dubai-based property portal Bayut expands to Saudi". MENAbytes. 2019-05-22. Retrieved 2020-08-17.
  15. "Bayut Big Broker Event 2019: First Dubai Real Estate Summit - MyBayut". A blog about homes, trends, tips & life in the UAE | MyBayut. Retrieved 2023-03-12.
  16. "Bayut, dubizzle lead property advertisement clean-up initiative". tradearabia.com. Retrieved 2023-03-12.
  17. "Bayut & Dubizzle Wow Real Estate Fraternity with the Region's Biggest Proptech Summit, b3dxb 2022". Al Bawaba. Retrieved 2023-03-12.
  18. "Chris Hemsworth stars in a new property advert filmed in Dubai". The National. Retrieved 2020-08-17.
  19. Godinho, Varun (2020-06-02). "EMPG and OLX Group merge MENA and South Asia operations to form $1bn Dubai-based tech company". Gulf Business. Retrieved 2020-08-17.
  20. Staff, Entrepreneur Middle East (2020-06-03). "EMPG and OLX Group, Owners Of Dubai-Based Bayut And Dubizzle Respectively, Merge To Form Unicorn Company". Entrepreneur. Retrieved 2020-08-17.
  21. "Bayut's parent company acquires property portals in Indonesia, Philippines and Mexico". The National. Retrieved 2020-08-17.
  22. Paracha, Zubair Naeem (2020-05-12). "Bayut & Zameen parent EMPG acquires Lamudi Global to expand into Philippines, Indonesia, and Mexico". MENAbytes. Retrieved 2023-03-12.
  23. Salian, Neesha (2022-04-22). "Bayut & dubizzle's Antonello Supino on harnessing the power of data". Retrieved 2023-03-12.
  24. "DLD signs MoUs with Bayut, DXBinteract.com, and Property Finder". Construction Business News Middle East. 2022-01-24. Retrieved 2023-03-12.
  25. "Want to Invest in Dubai Property? You Can Bank on Resourceful Data". The Economic Times. Retrieved 2023-03-12.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.