Leading digital real estate site Mubawab has announced a new $ 7 million fundraiser from Emerging Markets Property Group (EMPG), a Pakistani real estate group based in the United Arab Emirates.
“Mubawab, through the EMPG Group, has just raised another $ 7 million in funding. This fundraising will allow the company to accelerate its development by expanding its teams and continue to revolutionize the real estate sector in the Maghreb region,” announced Kevin Gormand, Co-Founder and General Manager of Mubawab, on the occasion of its 10th anniversary.
“We are proud of the confidence shown by the group in the project in Morocco and, more broadly, in the Maghreb region”, commented Mr. Gormand during a press conference, noting that Mubawab is today hui the first real estate site in Morocco thanks to a winning strategy, aiming to support and satisfy all the actors of the Moroccan real estate sector. On this occasion, the digital platform Mubawab.ma also announced the second edition of the Mubawab Guide to Real Estate. “After the success of the first Mubawab Real Estate Guide unveiled last semester, the platform is revealing its second edition of the Guide to offer a detailed and detailed analysis of the Moroccan real estate market”, according to the Director of Mubawab.ma. With a number of announcements having almost tripled in the second half of 2019, the base of the study naturally widened and thus generated even more relevant results, accurately reflecting the global real estate market, he said.
And to add that the trends that emerge are beneficial to the entire real estate ecosystem and will help guide the strategies of real estate professionals to match supply and demand.
As for Turnover, the Mubawab group reported an increase of +140% for 2019 and forecasts an increase of +150% for 2020.
Following its first major fundraising in 2018 and the acquisition of Jumia House Maghreb in June 2019, the company now has nearly 200 employees in Morocco, Tunisia and Spain and plans to recruit 100 new employees by the end 2020.
Created in 2010 and established since 2012 in Morocco, the Mubawab digital platform has become, over the years, the benchmark in the national real estate sector. The start-up has now passed to the status of scale-up and has experienced increasing development for several years, both in terms of geographic expansion and in terms of turnover.