iMENA Group Invests in Real-Estate Technology House, JRD Group
31, August, 2015 – Dubai, UAE | iMENA Group, the leading operator of online businesses in the MENA region, today announced that Dubai-based technology enterprise, JRD Group, is a new member of its growing platform. JRD recently received an investment from iMENA which the company plans to utilise towards rapidly expanding its industry-leading platforms and products within the real estate space across the Middle East and abroad.
Since 2008, JRD Group has been at the heart of technological innovation in the region’s real estate industry through its online property portals–JustProperty.com and JustRentals.com–and its propietary market-leading industry software PropSpace. Alex Nicholas, Co-Founder of JRD Group noted: “iMENA’s investment in JRD Group is an exciting development as we enter a powerful new phase in our continued evolution. We believe that this partnership will enrich and propel our growth even further as we expand internationally.”
“We are thrilled to announce our investment in JRD Group,” commented Dr. Khaldoon Tabaza, Founder and Managing Director of iMENA Group. “This investment is not only a reflection of JRD’s promising future as an online business in the real-estate space, owing to its exceptional management team and solid value proposition, but also marks iMENA’s continued faith and focus on the classifieds market in the region. We believe that this partnership with provide tremendous opportunities to both iMENA and JRD.”
iMENA Group’s platform currently includes eight online businesses in the region: OpenSouq, ReserveOut, SellAnyCar, Telr, Easy Taxi Middle East, iMENA Digital and iMENA Loyalty. The Group provides their investees with the financial resources and strategic advisory that promotes dynamic business growth and seamless regional expansion.
In recent years, iMENA’s increasing focus on the classifieds market brought JRD to its attention, after it noticed the tech company’s steady growth and systematic capture of market opportunities in the regional real-estate classifieds market. Nicholas emphasized that the timing of iMENA’s offer was of great synchronicity: “There comes a time when there is a clear and compelling impetus to capitalize more quickly on market opportunities. What made this offer so appealing for us was iMENA’s rich strategic expertise and visionary leadership. This investment will allow us to move with the same focus, rigor and spirit of innovation that has been pivotal to our growth to this day.”
JRD Group will maintain control over the operations of the company and will use iMENA’s investment to expand the reach of its product offerings, namely JustProperty.com and its proprietary cloud-based real estate software PropSpace, setting the stage for strategic growth across MENA and international markets, such as the UK and the US.