Dubai-based unicorn company Bayut and dubizzle today announced the official opening of their new combined office space at Dubai Design District (d3). The step further reinforces Dubai’s reputation as a leading centre of innovation, where promising startups can thrive and build successful business models.
Backed by Dubai’s world-class infrastructure, easy business setup, access to incubators and availability of smart funding, the new Bayut-dubizzle office will serve as a hub for both the brands operations within the UAE, as well as a base for the unicorn’s regional expansion plans.
The opening was attended by Abdulla Belhoul, Chief Commercial Officer, TECOM Group; Ammar Al Malik, Managing Director of Dubai Internet City; Majid Saqr Al Marri, CEO of the Registration and Real Estate Services Sector, Dubai Land Department; Khadija Al Bastaki, Executive Director of Dubai Design District (d3); and Mohamad Khodr Al-Dah, Director, Technical Affairs Department, Dubai Land Department.
Earlier this year, Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of homegrown technology success stories; Bayut and dubizzle, announced the merger of their MENA and South Asian operations to form an AED 3.6 billion (US$1 billion) Dubai-based unicorn company. Both Bayut and dubizzle will be operated under the leadership of EMPG, which also manages highly successful online classifieds businesses including Zameen in Pakistan, Bproperty in Bangladesh, Mubawab in Morocco and Tunisia, Kaidee in Thailand and more. In addition to dubizzle, the merger has also brought the OLX entities in Egypt, Lebanon, Pakistan and several GCC countries into the EMPG umbrella as well.
Ammar Al Malik, Managing Director of Dubai Internet City, said:
“The merger of the parent companies of Bayut and dubizzle earlier this year demonstrated the great potential of technology companies and established another homegrown unicorn. Both platforms were originally created in Dubai Internet City as startups and their tie-up has not only formed the region’s leading digital real estate platform, but underscored the wealth of opportunities that our technology and innovation ecosystem can offer.”
Khadija Al Bastaki, Executive Director of d3, added:
“As a home to some of the best local and international architects and interior designers, our community is behind some of Dubai’s most visually striking properties and projects. As such, it seems a perfect location for the shared Bayut-dubizzle office that will provide greater opportunities for collaboration and creativity as we collectively contribute to the UAE’s vision for a knowledge-based economy.”
The Head of EMPG-MENA and CEO of Bayut and dubizzle, Haider Ali Khan, expressed his excitement for the journey ahead:
“This is a special moment for us at EMPG, Bayut and dubizzle; one which would not have been possible without the government’s support to help companies like ours to grow and expand both locally and in the wider Middle East region, cementing the emirate’s reputation as a world-class destination for talent, investment and innovation.”
“From our new shared home in d3, we will be in a better position to efficiently serve Bayut and dubizzle customers and pursue significant technology investments to provide more value to all our users across various verticals,” Khan added.