Property portal: raises $20 million

CEO says company looking to expand in Bangladesh and Middle East

Our Correspondent January 20, 2016

LAHORE:, Pakistan’s real estate portal, has announced that it has closed its ‘Series C’ funding round with a $20-million inflow from one of its current investors, a fund which focuses on frontier and emerging markets with over $1 billion in assets under management.

The Series C funding is the third time the property portal has pumped funding into its business.

The investment has gone into the website’s parent company, Emerging Markets Property Group (EMPG), formerly Zamzama Property Group, which owns and controls online property portals in Pakistan and the United Arab Emirates (UAE).

Pakistan-based real estate portal raises $9 million in series B financing

The funding comes at the heels of a recent $9-million investment, which was announced in September 2015, bringing the total funds raised by the portal in the last 6 months to $29 million. was founded in Pakistan by Ali Khan brothers in 2006. It received its first angel investment from the French property portal authority Gilles Blanchard in 2012, followed by a Series A round in 2014 and sizeable Series B round in 2015. The portal has undergone impressive growth over the last year, expanding its team from 90 employees at the start of 2014 to over 500 people across Pakistan currently. CEO Zeeshan Ali Khan said the portal’s continued success was proof that homegrown service providers would always triumph because of an innate understanding of the consumers’ needs.

“Investors can easily identify the confidence that comes with knowing what you’re doing. We’re Pakistanis who’ve built a product for Pakistanis, so the people have responded to it tremendously well,” said Khan.

“With this incoming investment, we aim to own the Pakistani real estate space completely so that every Pakistani has a convenient, easily accessible, one-stop shop for all things real estate. The ultimate goal has always been to solve the problem we saw at the outset, and we’re closer to doing that now than ever before,” he added.

Overseas Pakistanis in UAE eye real estate back home

Khan further said that the investment would be spent on EMPG’s existing ventures in Pakistan and UAE, as well as on launching new ventures in Bangladesh and the Middle East. dominates Pakistan’s online real estate market by a wide margin, with over 3 million monthly visits, a field presence across 30 cities, and 9,000 real estate agencies on board.

Published in The Express Tribune, January 21st, 2016.

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Bilal | 5 years ago | Reply Zameen was supposed to be useful for common people like looking to buy a house or a plot. People like me are afraid of property dealers and their frauds. People who are afraid of paying unjust prices on properties that exist on paper only. But instead of cutting out the middle men (these property dealers), Zameen has actually become their platform. Go and try to find a house, plot or a flat. 99% listings are by property dealers. Zameen actually has business relationships with these dealers. No chance that you can actually find something useful on this website. Can the owners please comment on this strategy? Why focus on property dealers instead of common people who are your real customers?
Talha | 5 years ago | Reply Its a great website covering all the real estate activities in Pakistan
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