Emerging Markets Property Group (EMPG), a UAE-based property portals operator and parent company of Bayut.com, has wrapped up the first close of $50 million as part of a substantially larger investment round.

Bayut.com noted that $25 million of these funds would be deployed in the Emirates with a focus on further consolidation.

The remaining funds will be used to further strengthen EMPG’s position in its other markets.

EMPG has raised a total of $60 million in its four previous rounds, and the current round is its largest yet, bringing up the grand total to $110 million.