Subdivision Tips, South Australia (C: +61431138537), https://www.facebook.com/RealEstateSA5000/

Monday, May 23, 2016

Pakistani, French investors acquire Iranian property portal iHome

THE EXPRESS TRIBUNE > PAKISTAN Pakistani, French investors acquire Iranian property portal iHome By Osman HusainPublished: May 23, 2016 Tech in Asia Publishing Partner 2 SHARES SHARE TWEET EMAIL Emerging Markets Property Group is parent company of Zameen and Bayut with a concentration on Pakistan and UAE. PHOTO: TECH IN ASIA Emerging Markets Property Group is parent company of Zameen and Bayut with a concentration on Pakistan and UAE. PHOTO: TECH IN ASIA Gilles Blanchard and Imran Ali Khan, the chairman and co-founder of Emerging Markets Property Group respectively, announced on Sunday that they have jointly acquired Iranian property portal iHome in their personal capacity. Terms of the deal were not disclosed. Emerging Markets Property Group is the parent company of real estate sites Zameen and Bayut with a concentration on Pakistan and the UAE. It raised US$20 million in series C financing in January with the money earmarked for ambitious expansion goals across South and Central Asia. Success story: Local property venture raises $9m in funding Zameen, the group’s flagship venture, was founded in 2006 and counts Patrick Grove’s Catcha Group as one of its investors. In 2014, the startup announced an undisclosed amount in series A funding from Kuala Lumpur-headquartered Frontier Digital Ventures. Gilles is a veteran in the classifieds industry after co-founding France’s largest property portal SeLoger in 1992, which was acquired by German publisher Axel Springer for US$846 million in 2011. He will take up the role of Chairman of iHome. “This is a familiar situation, one that we have tackled several times before, which is why we feel very confident and are certain about success in Iran,” said Gilles. “Iran is a market with immense opportunity. We believe in businesses being run locally and in paying attention to the local milieu. With that in mind, we are well into the process of building the strongest team in the country’s tech industry,” explained Imran. The Pakistan-born internet entrepreneur added that iHome’s team had been strengthened to 40 people. It would now be led by co-founder and CEO Mohammad Hossein Rafatnejad and based out of the capital, Tehran. Property portal: Zameen.com raises $20 million “We are raring to take this market by storm,” said Hossein in an emailed statement. Despite years of crippling sanctions, which were only partly lifted recently, Iran boasts an impressive internet penetration rate of 57.2 per cent. The country has almost 47 million online users with over one-third transacting online every month. Digikala, Iran’s top ecommerce site, employs over 900 people and is valued at approximately US$150 million with 80 per cent share of the online retail space. This article originally appeared on Tech in Asia. Read more: Property portal , Tech in Asia Recommended Stories 814575-university_of_pesh_collegeuni_fb-1419963615-369-640x480-13A click away: Web portal launched to promote development journalism Forum will allow alumni to upload their content, promote development in FATA 674368-hosuexcopy-1392920444-141-640x480-2In a first: Zameen.com launches real estate index Investors can now analyse trends and track the performance of the real estate market over a period of time 56d5305c63faePakistan’s valiant real estate market Karachi emerges leader with 255% growth in five years by Taboola Sponsored Links You May Like Drones Are The Future Of Fleet Management Financial Times Aboard The World, The Sea Is Your Home... How To Spend It for The World-Residences at Sea The Ultimate Cheap Flights Finder Save70 Indira Gandhi's life through her doctor's eyes Oneindia Migrant Camp Health Crisis Is Feared Following Measles Outbreak Financial Times How Central And Eastern Europe Can Benefit From Better Governance Financial Times Reader Comments (3) ALL COMMENTSREADER'S RECOMMENDATIONS Bunny Rabbit 15 hours ago Reply wow suddenly its Iran all the way . KSA seems to have a back seat now . Does OIL have something to do with this . Recommend roadkashehzada 14 hours ago Reply so happy to see pakistani companies growing and going international. all the best Recommend Ishrat salim 11 hours ago Reply Bravo! A very bold step indeed. Good move. Recommend Leave Your Reply Below Name (required) Email Location Web Your comments may appear in The Express Tribune paper. For this reason we encourage you to provide your city. The Express Tribune does not bear any responsibility for user comments. Notify me of followup comments via e-mail Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments FAQ. Most Read 1A video of Abhishek walking away from Ash on the red carpet has gone viral. Trouble in paradise? Abhishek gives cold shoulder to Aishwarya at Sarbjit premiere 2The two actors look adorable together. PHOTO: ALLPAKISTANDRAMAPAGE Revealed: Saba Qamar's first look in Bollywood debut alongside Irrfan Khan 3PHOTO: VOICE FATA 'Jaffarabad police chief’s death likely to be premeditated murder, not suicide' 4The writer is a retired lieutenant colonel of the Pakistan Army and is currently pursuing PhD in civil-military relations from the University of Karachi India — going ‘ballistic’? 5Body-shaming isn't cool, guys. PHOTO: FILE Fardeen Khan's dramatic transformation gives fodder to Twitter trolls 6Security officials and hospital staff move a dead body into a morgue in Quetta on May 22, 2016. PHOTO: AFP Afghan Taliban leader Mullah Mansour killed in US drone strike in Pakistan 7Security officials and hospital staff stand next to unidentified dead bodies placed on stretchers at a morgue in a hospital in Quetta on May 22, 2016, which were brought following a drone strike in the remote town of Ahmad Wal in Balochistan that targeted Afghan Taliban chief Mullah Akhtar Mansour. PHOTO: AFP Man believed to be Taliban leader had returned from Iran 8Pakistan denounced the US drone strike on Taliban chief Mullah Akhtar Mansour as a violation of its air space PHOTO: REUTERS US forces will continue to go after threats on Pakistani soil: Obama 9It was displayed in Queen Mother’s funeral cortege in 2012, causing angst in India and Pakistan. Koh-i-Noor leaves Lahore 10K-P Transaction Alliance says Alesha was targeted by extortionists asking for porn videos. PHOTO: FACEBOOK Transgender activist critically injured after being shot multiple times in Peshawar Connect With Tribune News Like Us On Facebook Follow Us On Twitter Get News Every Evening RECENT SLIDESHOWS <> Diamonds and dresses Click it wear it Shades of summer Bridal dreams MORE IN PAKISTAN 11 mouthwatering pictures of desi breakfasts

No comments: