Cavendish Maxwell sells its stake in Property Monitor to Dubizzle Group
Just over three years after buying Property Monitor, Cavendish Maxwell has sold its stake in the platform to Dubizzle Group.
In a statement, Cavendish Maxwell founder Jay Grant said that under the wings of the regional real estate consultancy, Property Monitor has grown into “Dubai’s largest, leading and most trusted real estate intelligence platform.”
Property Monitor is a platform that provides data and intelligence to the real estate sector, across segments such as residential, office, commercial, industrial, and hospitality. The platform is used by developers, lenders, brokers, surveyors, and asset managers, among others.
Cavendish Maxwell acquired a majority stake in Property Monitor in December 2022. Today, the firm completed the sale to Dubizzle Group – also for an undisclosed sum. Dubizzle Group is a major online player in the region, specialized in buying platforms and classified advertising. Its best-known brands are Dubizzle, Bayut and DriveArabia.
Grant: “It has been a pleasure partnering with the Property Monitor team, whose dedication, innovation and strong leadership took the company from incubation to international recognition and renown. We wish them every success under the new ownership and look forward to seeing the company continue to thrive and prosper.”
Commenting on the decision to exit the business, Grant said: “Cavendish Maxwell is entering a high growth phase, and the sale of Property Monitor fully aligns with our bold strategic plans going forward.”
Cavendish Maxwell currently operates with offices in Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Kuwait City and Muscat. The award-winning firm has the ambition to broaden and deepen its suite of property-related services and expand its footprint.
