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Dubai United Arab Emirates
Property Finder, a leading real estate portal in the Mena region, has announced the successful divestment of its CRM business, PropSpace, as part of its strategic refocus on delivering enhanced value to its core customer base.
This move reinforces Property Finder's commitment to streamlining its operations and doubling down on its core mission: empowering consumers to make informed real estate decisions.
PropSpace, will now operate as an independent entity, offering unparalleled solutions to real estate professionals in the UAE. The newly created company will be led by Patrick Caulfield, who joins as Chief Executive Officer.
Caulfield was previously Managing Director of Arthur Online, one of the UK’s leading property management CRMs which was acquired by Aareon, Europe’s largest PropTech provider.
He went on to become Aareon’s UK Head of M&A where he led the acquisition of multiple CRMs and point solutions serving the real estate market. This experience makes him well-positioned to guide PropSpace into its next phase of growth.
"As the real estate industry increasingly relies on digital transformation, the CRM market represents a key driver of operational efficiency for real estate professionals. This transition creates an independent entity to better serve our industry," remarked Michael Lahyani, Founder and Chief Executive Officer, Property Finder.
"Through this transition, we are giving PropSpace the freedom to innovate and continue its leadership in the CRM space," he stated.
Under Caulfield’s leadership, PropSpace is poised to expand its offerings, providing tailored technology solutions that will enable brokers and real estate agencies to manage their operations more effectively.
On the new role, Caulfield said: "I’m excited to lead PropSpace in this new chapter as we build on our market-leading CRM solution. We are committed to evolving our platform and driving meaningful innovation that empowers real estate professionals to thrive in an increasingly competitive landscape."
The divestment underscores Property Finder's focus on being the leading marketplace for property seekers, agents, and developers, while also creating space for innovation and growth in the proptech sector, he added.
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