Kuwait’s property technology company, Sakan, has acquired Hapondo, a Qatari real estate marketing platform, to expand its operations within the Gulf region. This strategic acquisition aligns with Sakan’s growth plans and will allow it to build a stronger presence in Qatar, adding to its current operations in Kuwait, Saudi Arabia, Oman, and Bahrain. Although the financial terms were not disclosed, Sakan’s CEO, Abdullah Al Saleh, emphasized that the move would help Sakan scale its growth across the region. The Gulf’s real estate market, projected to reach a value of $4.59 trillion this year, is expected to grow at a CAGR of 1.93% over the next five years, reaching $5.05 trillion by 2029.
Property Technology, Real Estate, Mergers and Acquisitions,Kuwait, Qatar, Gulf Region
https://www.zawya.com/en/wealth/alternative-investments/kuwaits-proptech-sakan-acquires-qatari-firm-hapondo-jksgdc80