Belgian businessman Ignace Muwissen has sold his real estate knowledge company and plans to focus on the Property4East marketing platform in partnership with ISTIL Group founder Mohammad Zahoor.

"The anonymous new owner with whom Meuwissen will be collaborating is a private investor of Russian origin, who is active in the banking and real estate sector. The purchase price was based on the transaction value of real estate operations in recent years, and future searches. This gives a figure of between EUR 1.6 billion and 2.35 billion," reported in a press release posted on the PR Newswire.

Meuwissen will stay on as an advisor at the company until 2025. Alongside this, he will be focussing on Property4East with his partner Mohammad Zahoor, an industrialist from Ukraine, the press release reads.

Property4East.com is a platform for international luxury real estate with starting prices from EUR 1 million. The platform aims to serve the real estate needs of the UHNWI population of Russia, China, Hong Kong, Japan, Ukraine, Kazakhstan and its neighboring countries.

The company also provides private buyer search services for properties worth over EUR 10 million.

Property4East also collaborates with media platforms in Ukraine (Kyiv Post, Vogue), Russia (Forbes, Vogue, Tatler), Kazakhstan and Mongolia.

As reported, in 2009, British-Ukrainian entrepreneur Mohammad Zahoor bought the Kyiv Post from its founder Jed Sunden for $1.1 million. In 2018, Zahoor sold the newspaper to the founder of the investment and construction company Kadorr Group, Adnan Kivan, for $3.5 million.