Target Information

Property Finder, co-founded by Michael Lahyani and Renan Bourdeau, has evolved over the past 12 years into a prominent player in the real estate market, stemming from its inception in April 2012. The company, which specializes in property listings and market analytics, has shown remarkable resilience and adaptability, enabling it to capture significant growth, particularly in the burgeoning UAE real estate sector.

Since our initial investment in early 2013, we have been closely associated with Property Finder, participating in various stages of its development, from recruiting talent and fundraising to expanding into new markets. Throughout this journey, we have built strong relationships and navigated challenges, ultimately leading to a successful exit.

Industry Overview in the UAE

The UAE's real estate industry has exhibited impressive growth, currently valued at over $300 billion. This boom is primarily driven by increased foreign investment, infrastructural development, and supportive government policies aimed at attracting international buyers. The country’s strategic location as a global business hub has further solidified its attractiveness to investors.

Additionally, the real estate market in the UAE benefits from a diverse economy, transitioning from oil dependency to a more service and tourism-focused model. This diversification has resulted in ongoing demand for housing and commercial properties, driving consistent growth in the sector.

Technological advancements and the rise of digital platforms have transformed how real estate transactions are conducted in the UAE. Companies like Property Finder are leveraging these advancements, providing users with transparent access to property listings and analytics, significantly enhancing the buying and renting experience.

The rapid urbanization in key emirates, such as Dubai and Abu Dhabi, continues to fuel demand. Urban development projects and events, such as Expo 2020, have further amplified this growth, setting a positive trajectory for future investments in the real estate market.

Rationale Behind the Deal

The decision to exit our investment in Property Finder, with the company buying our shares, was driven by the need to return capital to our limited partners and wrap up our fund. Although we recognized the wealth of potential that Property Finder still holds, the timing aligned with our overall investment strategy and obligations.

Throughout our partnership with Property Finder, we maintained a strong conviction in its value proposition. The company has consistently emphasized innovation and customer satisfaction, ensuring its competitive edge within the market. This, combined with a favorable market environment, made our exit both timely and beneficial.

Investor Information

We, at BECO Capital, pride ourselves on being venture investors that identify and nurture high-potential companies across various sectors. Our commitment to supporting innovative businesses has seen us partner with numerous successful ventures, including Careem and Kitopi.

WE focus on providing operational support and strategic guidance to ensure the long-term success of our portfolio companies. Our investment throughout Property Finder’s journey exemplifies our dedication to fostering entrepreneurial talent and championing promising ideas in emerging markets.

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The exit from Property Finder marks a significant achievement for our investment strategy. With its market-leading position and continued growth potential, Property Finder exemplifies the type of company that can consistently adapt and thrive within a dynamic industry. Given the ongoing development of the UAE's real estate market, we believe that the company still holds substantial promise for future investors.

While our decision was strategically sound, the exit leaves us with a bittersweet feeling, as we believe we’ve only seen the beginning of what Property Finder can achieve. The leadership team, spearheaded by Mika and his co-founders, has created a strong foundation for growth.

Ultimately, we consider our involvement with Property Finder to have been a valuable investment, not only in terms of financial returns but also due to the relationships and insights we gained. The experiences shared and lessons learned throughout our journey with the company will continue to inform our future investment decisions.

As we continue to support Property Finder in its future endeavors, we are excited to witness how it further innovates and expands its footprint in the real estate industry.

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