• Sakan’s acquisition of Hapondo marks its entry into Qatar’s real estate market, broadening its footprint across the Gulf region where it already operates in Kuwait, Saudi Arabia, Oman, and Bahrain.
• The acquisition is expected to accelerate Sakan’s growth throughout the Gulf, aligning with the region’s booming real estate market, which is projected to reach $5.05 trillion by 2029.
• By integrating Hapondo, Sakan strengthens its position as a key player in the Gulf’s property technology sector, leveraging new opportunities in a rapidly expanding market.

Kuwait-based property technology firm Sakan has strategically acquired Hapondo, a real estate marketing platform in Qatar, as part of its broader expansion plans across the Gulf region.

This move marks Sakan’s entry into the Qatari market, adding to its existing operations in Kuwait, Saudi Arabia, Oman, and Bahrain.

While the financial details of the acquisition were not disclosed, Sakan’s CEO, Abdullah Al Saleh, highlighted that this acquisition will significantly bolster the company’s growth trajectory throughout the Gulf.

The acquisition comes at a time when the Gulf’s real estate market is experiencing robust growth, with projections indicating that the market will reach a value of $4.59 trillion this year.

Over the next five years, the market is expected to grow at a compound annual growth rate (CAGR) of 1.93%, reaching a staggering $5.05 trillion by 2029, according to Statista.