dubizzle acquires two Dubai-based companies

Companies are designed to help real estate professionals manage their day-to-day business

Tags: Dubizzle (www.dubizzle.com)Mergers and acquisitions
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dubizzle acquires two Dubai-based companies No value was disclosed for the acquisitions.
By  Bernd Debusmann Jr Published  November 13, 2017

Classified ads website dubizzle has announced its first-ever acquisition of two Dubai-based companies.

The first company, Masterkey, offers software that automates the day-to-day tasks of property management, brokerage and real estate development companies, managing their information in real time.

The second company,  Airlist - which was built by Masterkey - seeks to connect real estate professionals around the world, and is designed for small and midsize companies to add, organise and publishing listing data in property portals across the region.

No value was disclosed for the acquisitions.

"We are excited to announce this collaboration with dubizzle, bringing together the immense knowledge and experience of all three companies to deliver an unrivalled property service to the UAE. The mission of Masterkey has always been to equip the industry with technology that unlocks the real estate potential in the market," said Daniel Hart, CEO at Masterkey and founder of Airlist.

"This partnership will allow our teams to continue to grow our innovative solutions which our clients have trusted for over 14 years, now secured by the backing of the largest property platform in the UAE," he said.

Samer Abdin, general manager of dubizzle Property, called Masterkey and Airlist "world class products".

"We are proud to invest in their people, technology and future," he added. "These acquisitions are a testament to our drive to be the number one property platform in the UAE and puts us at the forefront of market innovation."

dubizzle's acquisition of the two companies took effect on November 1, with the new product expected to be developed over the coming three months.

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