Bayut vs Aqar Business Model: Which Wins for Founders?
Bayut vs Aqar Business Model: Which Wins for Founders?
Anuraag Jain
Last Updated on October 19, 2026
Key Takeaways
What You Will Learn
* The Bayut business model earns from annual agency subscriptions, credit-based pricing, and pay-per-listing fees.
* The Aqar business model earns about 80% of its income from direct ad fees, by Aqar’s own account, and takes no commission on deals.
* Dubizzle Group, Bayut’s parent, reported $183 million of revenue in 2024 and a 46% adjusted EBITDA margin in the first half of 2025.
* Bayut.sa has 2,300 paying real estate clients in Saudi Arabia, so the two models now compete in the same market.
* Saudi advertising rules require a valid license number on property ads, which makes verification a core feature.
* A side-by-side table shows whether an app like Bayut or an app like Aqar fits your market, agent base, and budget.
* A business model canvas shows how a founder can combine both models in one property portal.
* OyeLabs builds a Bayut clone and an Aqar clone from $2,599, each with web, iOS, and Android apps.
Real Insights
* The Bayut business model, built on subscriptions and credits, needs traffic and trusted leads, so it favors established portals.
* The Aqar business model’s pay-per-ad approach is easier to start, because agents pay only for the visibility they use.
* Treat company-reported figures as claims, not audited facts, and read them with care.
* A new portal should win one city or niche before it competes on national traffic.
* License and identity checks protect trust, and in Saudi Arabia they are also a legal duty.
* Start with listing fees, add featured placements, then offer subscriptions or credits once agents see leads.
Bayut vs Aqar Business Model: Which Wins for Founders?
Property founders in Saudi Arabia and the wider Middle East keep asking the same question: should you build an app like Bayut or an app like Aqar? The answer depends on how each platform earns. This guide compares the Bayut business model and the Aqar business model for a real estate and property search app.
In short, Bayut sells subscriptions and credits on the back of heavy traffic, while Aqar sells direct ad fees and takes no cut of deals. Neither wins everywhere, so we end with a clear recommendation on whether to build a Bayut clone or an Aqar clone for your market.
I, as a CEO read these models through a founder’s lens: which one can you fund, launch, and defend? I label company-reported figures as claims and our own calculations as ours, so you can see where reported fact ends and analysis begins.
Quick Answer
- The Bayut business model earns from annual agency subscriptions, credit-based pricing, and pay-per-listing fees, according to Dubizzle Group’s October 2025 announcement.
- The Aqar business model earns mainly from direct ad fees, about 80% of income by Aqar’s own account, and takes no commission on deals.
- The Bayut business model is built on traffic and agent density, while the Aqar business model is built on Saudi permit integration and broker and developer marketing.
- Neither wins everywhere: an app like Bayut suits portals with strong traffic, and an app like Aqar suits new portals building supply.
- Saudi rules require licensed advertising with a visible license number, so verification is a core feature and not an extra.
- A founder should launch with simple paid listings, add featured placements, then move agencies to subscriptions or credits once they see leads.
- OyeLabs builds both a Bayut clone and an Aqar clone from $2,599, with Arabic RTL layouts, listing packages, and agent subscriptions available.
The Bayut Business Model
Bayut is the property portal of Dubizzle Group, and Gulf Business reports that it holds about 65% of UAE property traffic. Dubizzle’s announcement says it held about half of UAE real estate classifieds revenue in 2024, and the UAE produced 89% of adjusted revenue in the first half of 2025. Group revenue was $183 million in 2024, up from $104 million in 2022.
The Bayut business model charges agents in three ways. The announcement describes recurring, usually annual, subscription contracts with real estate agencies, pay-per-listing fees for individual sellers, and credit-based pricing for UAE agencies that is tied to expected lead generation. In plain terms, agents pay for access to a large audience and for the leads that audience should produce.
Scale supports the margin. Gulf Business reports that adjusted EBITDA margin improved from 25% in 2022 to 46% in the first half of 2025, and the group counts more than 18 million monthly active users. Dubizzle also states a UAE real estate take rate of about 3.0%, which it expects to reach 5.4% by 2030, a company projection. Our reading: traffic leadership is what lets Bayut raise prices, and a new portal cannot copy that on day one.
Saudi Arabia is the next front. Bayut.sa had 2,300 paying real estate clients, more than 3.5 million monthly sessions, and more than 26,800 monthly active listings as of April 2025. Dubizzle paused its planned Dubai Financial Market listing in October 2025, and we did not verify any later update.
The Aqar Business Model
Aqar is a Saudi property platform launched in 2014. By its own account it has more than 12 million downloads, over 3 million active users, and a team of nearly 70 people, and it reached profitability without large investment rounds. These are company claims that we could not verify independently, so we use them as signals and not as audited facts.
The Aqar business model is direct. Owners, brokers, and developers pay set fees to list and promote properties, and Aqar says direct ad fees are about 80% of its income, with the rest from promotional features and add-on services. Searching and browsing are free. Paid options include broker marketing packages and Aqar Plus, a subscription for searchers.
Aqar states that it takes no percentage, commission, or finder’s fee from deals, and brokers keep what they earn. Our reading: this makes Aqar easy for agents to join, because the cost is known before any deal exists. It also caps revenue at what advertisers will pay for visibility, which is why Aqar keeps adding promotions and services.
Compliance is part of the product. Aqar says advertisers verify identity through Nafath, listings must link to a valid REGA permit, and the platform integrates with REGA, the Ministry of Housing, and Ejar. It also offers a price index using Real Estate Exchange data, a live map, property request alerts, and Rent Now, Pay Later financing through licensed partners.
Core Insight: Bayut monetizes lead volume through subscriptions and credits, while Aqar monetizes visibility through direct ad fees and promotions.
Bayut vs Aqar at a Glance
The table puts the Bayut business model and the Aqar business model side by side. Both sets of figures come from the companies themselves, so they carry company-reported quality, and cells marked with a dagger are our reading.
| Topic | Bayut | Aqar | What it means for founders |
|---|---|---|---|
| Main revenue | Annual agency subscriptions, credits, pay-per-listing | Direct ad fees, about 80% by its account, plus promotions and add-ons | One sells access to leads, the other sells visibility |
| Pricing logic | Credits tied to expected lead generation for UAE agencies | Set fees to list and promote | Credits need lead data, while set fees need only listings † |
| Deal commission | Not part of the model described in its announcement | None, by Aqar’s account | Neither relies on a cut of deals as core income |
| Core customers | Agencies, developers, individual sellers | Brokers, owners, developers | Agent-heavy markets suit both models |
| Scale evidence | 18 million group monthly users; about 65% of UAE property traffic; 2,300 paying clients on Bayut.sa | 3 million active users and 12 million downloads, self-reported | The evidence differs in quality, so verify before you copy |
| Compliance edge | Operates in the UAE and Saudi Arabia | Permit and identity integration in Saudi Arabia, self-reported | In Saudi Arabia, compliance is a product feature |
| Main risk | Subscription prices depend on traffic staying dominant † | Revenue is capped by advertiser budgets † | The two models fail in different ways † |
The pattern is clear. The Bayut business model sits higher on the value chain, because it prices leads, and that needs traffic. The Aqar business model sits closer to the listing, because it prices exposure, and that needs only supply. Which one fits depends less on taste and more on what your portal already has.
Rules That Shape Both Models
Saudi Arabia’s Real Estate General Authority approved marketing and advertising regulations that LexisNexis summarized in May 2026. Advertisements need a valid license and must display the license number. Only property owners, authorized representatives, or licensed brokers may advertise, and advertisers must submit ownership registration contracts unless the property is under government supervision.
The regulations set obligations for both licensees and electronic platforms, and they apply to every channel, including online platforms. Ads must include essential property details, prices, rents or brokerage fees, and a valid contact method, and they must be removed once fulfilled or expired. False or misleading information is prohibited, and violations follow the penalty schedule in the Real Estate Brokerage Law.
In my reading, that means a Saudi-ready real estate and property search app needs a license field on every listing, ownership document upload, expiry-based removal, and reporting tools. These features sit under either revenue model. The UAE has its own permit rules, which we did not review here, so confirm them with local counsel before any launch in that market.
Reality Check: In Saudi Arabia, an ad without a valid license number is a compliance risk, so build permit checks before launch.
Which Model Wins for Founders?
For most new founders, the Aqar business model wins as the starting point, and the Bayut business model wins as the destination. A new portal has no audience to sell, so it cannot ask agencies for annual subscriptions or lead-priced credits. A listing fee asks for a small commitment, and an agent can test it with a few ads.
Bayut’s pricing sits on top of its traffic leadership. Credits tied to expected leads only work when the portal can predict leads, and that needs history and volume. In our analysis, a founder who copies the Bayut business model before the traffic exists will meet agents who ask for proof that the portal cannot yet give.
There are exceptions. If you launch with an anchor partner, such as a developer or a brokerage network that brings inventory and buyers, subscriptions can start earlier. A narrow niche, such as off-plan projects or commercial space, can also support higher prices sooner. The table below shows why the revenue drivers differ, using hypothetical inputs that you should replace with your own.
| Model | Hypothetical input | Monthly revenue |
|---|---|---|
| Agency subscriptions | 200 agencies at $150 per month | $30,000 |
| Pay-per-listing | 3,000 active listings at $10 each | $30,000 |
| Featured placements | 300 boosts at $20 each | $6,000 |
Subscriptions scale with the number of agencies you convince, while listing fees scale with the supply you attract. Both can reach the same revenue, but they need different proof. My recommendation is a sequence: launch with listing fees and license checks, add featured placements next, and offer subscriptions or credits to agencies with proven lead volume.
Growth Insight: Start with the revenue model your market can already understand, then add the second model once agents trust you.
Business Model Canvas for a Property Portal
A canvas shows how the Bayut business model and the Aqar business model can live in one product. The grid below describes a property portal that starts with Aqar-style listing fees and grows toward Bayut-style subscriptions and credits. Items marked with a dagger are our inference, and unmarked items follow the company reports and regulations cited here.
Key partnerships
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Key activities
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Value propositions
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Customer relationships
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Customer segments
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Key resources
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Channels
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Cost structure
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Revenue streams
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Read the canvas from the segments inward. Seekers bring traffic, traffic attracts agents and developers, and agents and developers pay. Every revenue stream on the right depends on the seeker side working first, which is why verified listings and search quality matter more than any pricing plan.
Two blocks deserve extra attention. Key partnerships include the identity and permit systems that make Saudi listings lawful, and they take time to integrate. Cost structure carries verification and traffic acquisition, which are the costs that new portals most often underestimate when they compare themselves with established leaders.
Building a Bayut Clone or an Aqar Clone
Both models run on the same core: listings, search, agent accounts, and an admin panel that controls pricing. The difference is which monetization you switch on first. OyeLabs builds a Bayut clone and an Aqar clone, each starting at $2,599, delivered for web, iOS, and Android with white-labeling and app store submission included.
The Bayut clone centers on agent revenue. It supports monthly or yearly agent subscriptions, featured listing boosts, in-app lead management with chat and analytics, an interactive map, property comparison, a mortgage calculator, verified property tags, and agent verification tools. Add-ons include sponsored listings, pro membership, multi-currency, multi-tenant setups, an AI price estimator, and AI document verification.
The Aqar clone centers on listings and projects. It includes agent and agency dashboards and directories, featured properties, project promotions for developers, buy credits, CSV import and export, and Arabic right-to-left layouts. Add-ons include paid listing packages with limits and premium placements, CRM integration, WhatsApp Business, a viewing scheduler, multi-portal syndication, AI lead qualification, and a listing quality auditor.
- Choose the Bayut clone if agencies in your market already pay for leads and you can bring traffic.
- Choose the Aqar clone if you are building supply first, serving developers, or launching in Arabic.
- Ask for a combined build if you want listing packages now and subscriptions later.
Permit and identity verification for a Saudi launch, local payment gateways, and complete Arabic screens, including emails and admin pages, are normally scoped as custom work for a Bayut clone or an Aqar clone, so I would list them in your first brief. Go-live depends on how much you customize, so ask for the schedule and support terms in a written quotation before you commit.
Also Read: Step-by-Step Guide to Building a Property Listing Platform
Founder Warning: Do not copy a leader’s traffic claims into your plan, because a new portal earns trust listing by listing.
Conclusion
The Bayut business model and the Aqar business model solve different problems. Bayut turns heavy traffic into subscription and credit revenue, and Aqar turns supply and compliance into direct ad income. Neither wins on paper, because each depends on assets a founder may not have yet.
For a new real estate and property search app, start with the Aqar approach: paid listings, license checks, and clear promotions. Add the Bayut approach when agents can see the leads you deliver. An app like Bayut is the destination, an app like Aqar is the faster first step, and your own market data should decide when to move.
Frequently Asked Questions
What is the Bayut business model?
The Bayut business model charges agencies annual subscriptions, uses credit-based pricing for UAE agencies tied to expected leads, and charges individual sellers per listing. Dubizzle Group, Bayut’s parent, describes this in its October 2025 announcement.
What is the Aqar business model?
The Aqar business model is built on direct ad fees paid by owners, brokers, and developers, which Aqar says are about 80% of income. The rest comes from promotional features and add-on services, and Aqar says it takes no commission on deals.
Which is better for a startup, an app like Bayut or an app like Aqar?
For most startups, an app like Aqar is the easier start, because paid listings need supply and not a proven audience. An app like Bayut suits portals with strong traffic or an anchor partner that brings agencies and buyers.
Does Aqar charge commission on property deals?
Aqar states that it takes no percentage, commission, or finder’s fee from deals, and that brokers keep their own. This is Aqar’s own statement, so confirm the current terms with the company if they matter to your plan.
Do property ads in Saudi Arabia need a license?
Yes. Regulations approved by the Real Estate General Authority require a valid license for advertisements and require the license number to be displayed. They also set duties for electronic platforms, so take local legal advice before launch.
How much does a Bayut clone or an Aqar clone cost?
OyeLabs’ Bayut clone and Aqar clone each start at $2,599. A custom property platform costs more and depends on scope, so confirm price, timeline, and support terms in a written quotation.
Can one real estate and property search app support both models?
Yes. A single build can support listing packages, featured boosts, agent subscriptions, and credits, and you can switch each on in stages. Plan the pricing rules and the admin controls early so that adding a model later is simple.
Sources and Editorial Notes
Sources
- Zawya: Dubizzle Group announces its intention to float on the Dubai Financial Market (October 13, 2025)
- Gulf Business: Dubizzle pauses IPO despite strong revenue growth (October 29, 2025)
- Aqar: About Aqar app, why do 3 million users trust us?
- LexisNexis: KSA Real Estate Authority approves marketing and advertising regulations (May 8, 2026)
Editorial Notes
- Bayut figures come from Dubizzle Group’s announcement and Gulf Business reporting. Revenue of $183 million in 2024 is for the whole group, which includes vehicles and other businesses, not Bayut alone.
- Aqar’s figures, including users, downloads, the 80% ad fee share, and the statement that it takes no commission, are self-reported on its own site. The article is undated, and we could not verify the figures independently. Aqar’s statements on income shares are not fully consistent, so we use the 80% figure only.
- The UAE real estate take rate of about 3.0% and the 5.4% target for 2030 are company statements and projections, and we did not verify how the company defines take rate.
- Dubizzle paused its planned Dubai Financial Market listing in October 2025. We did not verify any later update.
- The Saudi advertising rules are summarized from a LexisNexis note on regulations approved by the Real Estate General Authority. Read the official text and take local legal advice before launch. We did not review UAE permit rules.
- The revenue table uses hypothetical inputs to show how the drivers differ. It is not a forecast or an industry average. Cells and canvas items marked with a dagger are our analysis.
- Bayut, Aqar, Dubizzle, REGA, Nafath, and Ejar are referenced only to describe market context. OyeLabs has no affiliation with any of them.
