Emerging Markets Property Group (EMPG), the company with a Pan-Emirates presence with multiple real estate websites, has announced the successful completion of a $50 million Series D funding round. The identities of the investors, however, were not disclosed.
With this new success, the total funding received by EMPG currently stands at just about $110 million. At present, EMPG is present in 40 key cities across the UAE. Additionally, it also has a formidable presence in countries such as Morocco, Bangladesh, Pakistan, Romania, and Spain. According to EMPG CEO Haider Ali Khan, $25 million of the newly acquired fund will be used to further consolidate its grip on the domestic market. Meanwhile, the rest of the fund will be deployed in other markets to further strengthen its position as a leading real estate platform for buying and selling properties. “EMPG’s growth has been comprehensive across all metrics, on the back of some of the world’s most advanced digital real estate platforms developed by our R&D teams,” said Haider Ali Khan.
He added: “With a compounded annual revenue growth rate (CAGR) of over 100% over the last five years, more than 15,000 real estate agencies, and 8 million-plus monthly visits across our portals, EMPG is ideally positioned for regional dominance.”
EMPG’s claim to have received $110 million in funding makes it one of MENA’s three best-funded, VC-backed company.