Bayut and Dubizzle, the first billionaires specialized in the technology sector emerging from the merger of two companies that originated in the UAE, yesterday officially inaugurated its new headquarters in the Dubai Design District, in a move that confirms Dubai’s position as an incubator for talented people and a global destination for investment and innovation, and a home for pioneering startups. the world.
The opening of the headquarters came during a ceremony attended by Abdullah Belhoul, Chief Commercial Officer at TECOM Group, Ammar Al Malik, Executive Director of Dubai Internet City, Majid Al Marri, Executive Director of the Registration and Real Estate Services Sector at the Dubai Land Department, and Khadija Al Bastaki, Executive Director of the Dubai Design District. And Mohammed Khader Al-Dah, Director of Technical Affairs at the Dubai Land Department.
Emerging Markets Property Group, the owner of the Dubai-based Bayut platform, and the OLX Group, which owns the Dubizzle platform, announced the merging of their operations in the Middle East, North Africa and South Asia, to form a billion-billion company with a market value of 3.6. Billions of dirhams (about one billion US dollars). As a result of this deal, EMPG will manage the dubizzle and Bayut platforms in the UAE.
In addition to its global platforms such as Zamin in Pakistan, B Property in Bangladesh, “Mbub” in Morocco and Tunisia, and “Kaidi” in Thailand. All these assets are owned by the EMPG Group, in addition to Dubizzle. This merger also included the brands belonging to the “OLX” group in Egypt, Lebanon, Pakistan and many countries of the Gulf Cooperation Council, to be added to the group “EMPG”.
Dubai is a supportive environment
Ammar Al Malik, Executive Director of Dubai Internet City, congratulated Bayut and Dubizzle on the opening of the new headquarters for their merger, stressing that the supportive environment provided by Dubai and the business-friendly climate enhances its attractiveness as a first destination for various economic activities, especially the one that relies heavily on the technological infrastructure that Dubai has surpassed in providing. :
«Showed the merger of the two companies; Dubizzle and Bayut, earlier this year, the enormous potential of technology companies, with the establishment of the local company “Unicorn”. The two platforms started in Dubai Internet City as two start-ups, and their merger was not limited to establishing a pioneering digital real estate platform, but also showed the great opportunities that can be provided by the technology and innovation system in Dubai.
Perfect location
Khadija Al Bastaki, Executive Director of the Dubai Design District, welcomed the new merger headquarters in the neighborhood, and said: “The Dubai Design District community includes a group of prominent local and international architects and interior designers who have contributed to the implementation of many distinguished real estate projects in Dubai.
Therefore, the Dubai Design District is the ideal location for a joint “Homes and Dubizzle” office through the great opportunities it offers for cooperation, creativity and collective participation in translating the UAE’s vision and strengthening its trends in the field of knowledge-based economy.
More achievements
For his part, Haider Ali Khan, Head of EMPG Group in the Middle East and North Africa, CEO of Bayut and Dubizzle, expressed his happiness with this step and his confidence in achieving more achievements during the next stage.
He said: “The opening of the new headquarters is a special moment for all of us at EMPG, Bayut and Dubizzle that would not have been possible without the great support provided by the Emirate of Dubai to the startup sector to help it grow and expand at the local and regional levels, which is what He reflected on the emirate’s reputation as a global destination for attracting talent, investments and innovation.
He added: “Our new joint headquarters in the Dubai Design District will contribute to providing better service to our customers, raising levels of efficiency, in addition to enhancing the investment expansion strategies that they have started, to provide our services to more commercial sectors through the platforms that we manage from our headquarters in Dubai.”
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