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Dubai-based digital real estate investment platform Stake has launched operations in Saudi Arabia, it said in a statement. Stake has established the operation with the support of Al Rajhi Seventh (RJ7), a local property developer, and is set to transform real estate investing in the Kingdom.
Stake has chosen a commercial property in North Riyadh for its first offering in Saudi Arabia. The income-generating property will anchor the platform’s first investment fund in the country. Stake has also partnered with Mulkia, a Saudi-based asset management firm, to create private real estate funds tailored specifically for local investors to optimize its entry into the Saudi market.
These funds are managed by Mulkia and distributed exclusively through the digital platform of Stake. With this, they aim at lowering barriers to entry within real estate investments. Such a move will make accessing premium opportunities in both residential and commercial property markets easier. This initiative aligns with the push by Saudi Arabia to diversify its economy and expand investment opportunities as presented under Vision 2030.
Stake’s recent success in securing $14 million in Series A funding underscores the platform’s growth potential and credibility. The funding round, completed in June, was led by Middle East Venture Partners (MEVP), a prominent UAE-based venture capital firm. It also attracted investments from Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, and Wa’ed Ventures, the venture capital arm of Saudi Aramco.
Other investors in the funding round were Al Jomaih Holding, a prominent Saudi family conglomerate, and Republic, a U.S.-based private investing platform. The successful funding round has provided Stake with the resources to scale its operations and strengthen its presence in key markets, including Saudi Arabia.
Leveraging its digital-first approach and strategic partnerships, Stake is revolutionizing real estate investment in Saudi Arabia. Its platform simplifies the investment process, offering transparency and accessibility to investors looking to diversify their portfolios with real estate assets.
The partnership with Al Rajhi Seventh (RJ7) and the management expertise of Mulkia add to Stake’s commitment to creating investment solutions that address local needs. The North Riyadh property-based debut offering is a testament to the platform’s focus on high-quality, income-generating real estate opportunities.
This development falls in line with the stake’s mission of democratising real estate investing; they achieve this by using innovative technology to open quality assets up for access. Well-set and robust backing in both regional and international investor backgrounds give Stake a proven position of capturing the rise of demand for diversified investing in Saudi Arabia and wider geography.
