logo
Property Finder Welcomes Owen Wilson, CEO of REA Group, to its Board of Directors in a Major Industry Move - Middle East Business News and Information

Property Finder Welcomes Owen Wilson, CEO of REA Group, to its Board of Directors in a Major Industry Move - Middle East Business News and Information

Mid East Info19-06-2025
Wilson brings decades of experience in property portals, digital transformation, and international market expansion to the business to help further boost Property Finder's growth
Dubai, United Arab Emirates, June, 2025: Property Finder, MENA's leading property portal (or 'the company'), has announced the appointment of Owen Wilson, CEO of REA Group, to its Board of Directors. Wilson brings decades of executive and operational experience, including nine years at REA Group, where he progressed from Chief Financial Officer to Chief Executive Officer.
During his tenure he led REA Group, which operates realestate.com.au, Australia's #1 property platform, through a period of sustained growth and international expansion. Under his leadership, the business became widely regarded as the most advanced digital real estate company in the world. Listed on the Australian Stock Exchange (ASX) with a market capitalisation of approximately USD $20 billion, REA Group, a former shareholder in Property Finder, is majority-owned by News Corp, the global media company founded by Rupert Murdoch.
Wilson's addition to the Property Finder Board signals the company's ambition to accelerate innovation, underscore governance, and deliver even greater value to home seekers, buyers and partners across the MENA region.
Michael Lahyani, Founder and CEO of Property Finder, said: 'Owen brings deep industry expertise to our Board. His leadership at REA Group, shaping digital transformation, driving strategic M&A, and championing customer-first innovation sets a strong benchmark for the industry. As we continue our mission to change living for good in the region, Owen's insight will be instrumental in helping us deliver on our purpose and strengthen our position as the regional leader.'
Owen Wilson, Board Member, Property Finder, adds, 'I'm deeply passionate about creating personalised experiences that redefine how people engage with property. I've long admired Property Finder's bold vision and the transformative role it plays in reshaping real estate across the MENA region. Under Michael's leadership, the team's relentless focus on innovation, customer experience, and data-driven decision-making closely aligns with the values I've championed throughout my career. I'm excited to support Michael and the Board as the company embarks on its next chapter of growth and continues to shape the future of property search.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Valu Reports 1H25 Results with Buoyant Revenues and Profitability in First Earnings Release as a Publicly Traded Company on the EGX
Valu Reports 1H25 Results with Buoyant Revenues and Profitability in First Earnings Release as a Publicly Traded Company on the EGX

Tahya Masr

time12 hours ago

  • Tahya Masr

Valu Reports 1H25 Results with Buoyant Revenues and Profitability in First Earnings Release as a Publicly Traded Company on the EGX

Valu, MENA's leading universal financial technology powerhouse, announced today its outstanding financial and operational results for the first half of 2025, marking its first earnings release since becoming a publicly listed company on the Egyptian Exchange (EGX). Total Loans during 1H25 issued reached EGP 8.9 billion, up 60% Year-on-Year (Y-o-Y), with gross revenue for the period reaching EGP 2.6 billion, up 94% Y-o-Y, while net income surged to EGP 341 million, reflecting a 64% increase versus the same period last year. Gross Merchandise Value (GMV) during 1H25 stood at EGP 10.6 billion, an 80% rise from 1H24, driven by a 133% increase in transactions to 3.6 million, bringing its GMV Business-to-Date (BTD) to EGP 46 billion from 11.9 million transactions BTD. Valu's market share increased to 25%, underscoring its position as Egypt's leading lifestyle-enabling fintech platform. For the second quarter of 2025, Valu maintained its strong trajectory, recording EGP 1.52 billion in gross revenue, up 96% Y-o-Y, and EGP 217 million in net income, a 121% increase compared to 2Q24. GMV for the quarter stood at EGP 5.21 billion, while transactions reached 1.89 million, reflecting continued operational scale and customer engagement. 'Valu's first earnings release as a listed company marks a pivotal moment in our journey,' said Valu CEO Walid Hassouna. 'We have transitioned from a disruptive startup to a publicly listed company with a proven track record of profitability and strong performance in the first half of 2025, a milestone that cements our evolution. These results reflect the resilience of our business and the effectiveness of our product development strategy from the rapid adoption of our prepaid card to the scalable expansion of our auto-loan offering, Shift. We've broadened our customer base, increased repeat usage, and maintained portfolio quality while scaling rapidly. The Amazon transaction, through which Amazon acquired a direct stake in Valu and our EGX listing, has unlocked new strategic levers to accelerate progress, deepen our funding base, and extend our regional footprint, with Jordan marking our first MENA entry beyond Egypt.' Valu's operational performance was underpinned by its diversified product suite and disciplined execution. The company's prepaid card, launched over a year ago, has rapidly gained traction, with transaction spending more than tripling Y-o-Y and average daily expenditure reaching EGP 10.6 million in 2Q25. The Shift auto loan product also contributed significantly to GMV growth, reflecting rising demand for large-ticket financing solutions. Customer engagement remained strong, with activated customers reaching 831 thousand and repeat customer rates increasing by 24% Y-o-Y . 'We are building a regional fintech champion, created to support financial inclusion, powered by technology, and designed to answer the evolving needs of millions of customers. Our results reflect our model's strength, our team's agility in meeting market needs, and the trust of our stakeholders, which has kept them loyal to us. As we look ahead, we remain focused on expanding our footprint, enhancing our product offering, and delivering sustainable value to our shareholders and the communities we serve,' added Hassouna. The company also achieved key strategic milestones during the period. In March, Valu received approval for its Fintech Operating License from the Financial Regulatory Authority, enabling fully digital onboarding. In July, Valu secured initial approval from the Central Bank of Jordan to launch operations, marking the beginning of its regional expansion. Valu's funding base remains robust, with EGP 10 billion in authorized credit limits and EGP 16 billion in completed securitizations to date. The company's fourth securitization program, valued at EGP 10 billion and backed by an EGP 13 billion portfolio, received FRA approval in July, further enhancing its financial flexibility .

Standard Chartered Expands MENA Custody Network with Egypt Launch
Standard Chartered Expands MENA Custody Network with Egypt Launch

bnok24

time17 hours ago

  • bnok24

Standard Chartered Expands MENA Custody Network with Egypt Launch

Standard Chartered announced today the launch of its direct custody services in Egypt, further expanding its global post-trade offering across the Middle East and North Africa (MENA). This important milestone builds on the successful rollout of its direct custody services in the Kingdom of Saudi Arabia earlier this year and reflects the Bank's broader strategy to deepen its presence across high-growth, strategically important markets The service enables institutional clients to hold and manage a wide range of securities with greater efficiency, transparency, and security. Operated through Standard Chartered Bank Egypt, the platform supports a wide range of securities including equities, treasury bills, government bonds and corporate bonds. Services include safekeeping, settlements, and corporate actions, and can be delivered via various mediums including through the Bank's globally renowned Straight2Bank (S2B) platform Mohammed Gad, Chief Executive Officer, Standard Chartered Egypt, said: 'This launch represents a key milestone in our efforts to strengthen Egypt's financial infrastructure and expand investor access to the region. Egypt is a vital market for us, not only as a new BRICS member, but as a rising investment hub linking Africa, the Gulf and beyond He added: 'By introducing direct custody services from day one, we are providing our institutional clients with greater speed, transparency, and operational efficiency. Backed by our global platform and deep local expertise, this offering will help unlock capital flows into Egypt and support the growth of a more resilient, connected capital market The custody service in Egypt is fully licensed by the Financial Regulatory Authority and approved by the Central Bank of Egypt. It supports Egypt's broader ambitions to modernise its financial ecosystem, attract foreign direct investment, and diversify sources of capital in line with Vision 2030. With growing interest from investors across Asia, the Gulf and Africa, the launch is well-timed to meet demand for institutional-grade infrastructure and post-trade solutions Scott Dickinson, Regional Head of Financing and Securities Services AME, said: Standard Chartered's expanding custody footprint across the region underlines its commitment to supporting capital markets in key emerging economies. By improving investor access, raising service standards, and helping to attract long-term capital, the Bank continues to play a leading role in connecting global investment to opportunity across the MENA region Google News تابعونا على تابعونا على تطبيق نبض

Egyptian Banks Raise Traveller Cash Limit to USD 10,000 and Cut Fees
Egyptian Banks Raise Traveller Cash Limit to USD 10,000 and Cut Fees

CairoScene

time19 hours ago

  • CairoScene

Egyptian Banks Raise Traveller Cash Limit to USD 10,000 and Cut Fees

Egypt's major banks have raised the traveller withdrawal limit to USD 10,000, lowered credit card foreign currency fees, and lifted travel verification requirements amid improved dollar liquidity. Aug 13, 2025 Egypt's largest banks have increased the foreign currency cash withdrawal limit for travellers to USD 10,000 or its equivalent in other currencies, up from previous caps of USD 2,000 to USD 5,000 depending on the bank and card type. The new ceiling, now in place at the National Bank of Egypt, Bank Misr, and the Commercial International Bank, aligns with the maximum legal allowance for outbound travellers. Customers can withdraw the full amount before departure by presenting a valid flight ticket and visa. In a further easing of restrictions, several banks have reduced foreign currency markup fees on credit card transactions from 5% to 3%. The lower rates are already in effect at the National Bank of Egypt and CIB, while Bank Misr will implement its cut on August 13th, 2025. The Central Bank of Egypt has also removed the requirement for customers to provide proof of travel abroad when using credit cards. The measures mark a significant shift from restrictions imposed from late 2022, when foreign currency outflows were curbed to address a severe dollar shortage, the emergence of a parallel market, and sustained pressure on the pound. At the height of the controls in 2023, overseas spending caps were sharply reduced, in some cases to USD 50 to USD 100 per month for regular customers and a few hundred dollars for premium cardholders, while high markup fees were applied to discourage use.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store