The UAE-based challenger portal Houza ceased operations in February.
Born out of agents' frustration with incumbents during the worst of the COVID-19 pandemic, Houza was set up to compete with Property Finder and Bayut / Dubizzle and drive down listing prices in the lucrative Emirati market.
Online Marketplaces understands that the business experienced issues around its product-market fit as well as waning appetite from its investors.
Set up by former Dubizzle employee Barry Judge in January 2020 in partnership with several agency groups, Houza went on to raise $5.5 million in 2022 and appointed former OLX Group exec, JP Mondalek as CEO. A large part of the investment came from some of the country's largest real estate franchises including Allsopp & Allsopp, Betterhomes Group, Driven Properties, D&B Properties and Espace Real Estate.
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