Biot.com, the UAE real estate website, has acquired all Lamudi assets of the Middle East Internet Group Group in the markets of the Gulf Cooperation Council states, including electronic portals in the United Arab Emirates, Saudi Arabia and the Hashemite Kingdom of Jordan.
According to Al Bayan, this move comes after the $ 100 million invested capital increase deal that was recently entered into from Category 4 in the Emerging Markets Property Group I group. MPG (Emerging Markets Property Group), the parent company of Bayt.com, which in turn indicated that the main objective of taking this step is its endeavor to expand the scope of its business intensively in addition to consolidating its position as the strongest provider and largest reference that includes classifieds of real estate ads in the Arab Gulf countries.
Haider Ali Khan, Chief Executive Officer of Biot.com, said: “Our focus at (Biot.com) has always been to provide solutions that meet the various requirements in every way.” A market in the region according to its nature, which prompted us to complete this transaction, as we wanted to share this philosophy with our customers in the GCC region and other markets in the region.
It is mentioned that the group currently provides more than 2000 job opportunities in the UAE, Morocco, Pakistan and Bangladesh in addition to Spain and Romania, and its sites register more than 9 million visits Monthly, it achieved a total of 65 million page views, and receives more than two million requests per month for offered properties.
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