Two online property platforms based in Dubai, Dubizzle Ltd. and Property Finder, are reaching out to equity investors in the coming weeks. This initiative aligns with a broader trend of companies looking to capitalize on the city’s thriving real estate market.

According to sources familiar with the situation, Dubizzle is planning to meet with potential investors ahead of a possible initial public offering (IPO). Meanwhile, Property Finder is conducting a “non-deal roadshow” to engage with equity investors. The discussions are private, and the specifics of the meetings have not been disclosed.

Dubizzle has been contemplating an IPO since 2023 and has previously engaged in similar outreach efforts. Although details regarding the size and timing of the potential IPO are still being finalized, some insiders suggest that it could raise at least $500 million. Representatives from Dubizzle have chosen not to comment on the matter. The company is collaborating with Emirates NBD PJSC, Goldman Sachs Group Inc., HSBC Holdings Plc, and Morgan Stanley for this transaction.

Property Finder is also preparing for an eventual IPO through its investor meetings. The firm’s CEO, Michael Lahyani, mentioned that Property Finder is proactively engaging with equity investors to strengthen its relationships while exploring ways to expand its capital structure. Last year, the company secured a $90 million debt facility from Francisco Partners, a US-based fund, to buy back the stake held by BECO Capital, a venture capital firm from the Middle East. At that time, Property Finder’s valuation was approximately $1 billion, with JPMorgan Chase & Co. serving as the financial advisor for the deal.

The push for investor engagement comes at a time when Dubai’s real estate market is experiencing significant growth, with property prices surging over 70% in the past four years. Additionally, Dubai Holding, an investment entity owned by the emirate’s ruler, is considering a listing of two separate real estate portfolios to take advantage of this boom.

Despite the positive trends in the local market, global conditions remain uncertain, characterized by fluctuating markets and declining crude prices. However, regional equity capital markets bankers have reported that their plans for share sales in the Middle East have not been adversely affected. Several firms in Saudi Arabia are also preparing for new share sales, and developers in Dubai are looking to attract fixed income investors amidst the current market dynamics.