Zoopla has handed over its ownership of the domain name propertyfinder.com – almost certainly the longest-standing property portal name in the UK.

It has gone to a Dubai-based business called Propertyfindergroup, which has property portals across the Middle East and North Africa.

As part of the deal, ZPG has become a 1% shareholder in Propertyfinder Group.

As a newcomer, Zoopla acquired Propertyfinder in August 2009 from News International and the Australian company REA Group. The purchase price was rumoured to be £1.5m – well down from the £14m that News International and REA bought it for just four years earlier.

Propertyfinder, a pioneer in the portals market, was co-founded by Nick Leeming and his brother in the mid-nineties.

After its eventual acquisition in 2009, the name ‘propertyfinder’ was dropped by Zoopla in favour of its own name.

Propertyfinder Group (PFG) was founded in 2005 and operates in seven countries: UAE, Qatar, Lebanon, Bahrain, Egypt, Morocco and Saudi Arabia, employing nearly 200 staff. PFG says it is the clear market leader in five of those seven markets and generates over 2m monthly visits.

Alex Chesterman, founder and CEO of ZPG, said: “We are excited to become a small shareholder in Propertyfinder Group, the leading player in digital property across the Middle East and Africa. Their business is growing fast and we have no doubt that we can add strategic value as a shareholder.”

Michael Lahyani, founder and CEO at PFG, said: “I have known Alex for years and we have always enjoyed strategic conversations on the real estate classified space. Having ZPG as a shareholder is not only a vote of confidence in our business but also an opportunity to secure the propertyfinder.com domain name, a strategic asset for our group.”