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Growing Dubai Startup ‘Stake’ Secures $14m to Expand Saudi Real Estate for Global Investors

Property appreciation rates remain strong, making real estate investment a profitable option. However, factors like the market’s liquidity constraints and the large down payment requirements can make property investing inaccessible for smaller investors.

However, there are certain alternatives that can make real estate investing simpler.  These include real estate investment trusts and mortgage-focused investment groups.

Digital platforms serve as another alternative. Stake is a platform that connects global investors with income-generating real estate opportunities in Dubai.

The company said it raised US$14 million in a series A funding round to take its offering to Saudi Arabia. The company announced on LinkedIn that it will be the first platform to provide real estate investment options in Saudi Arabia to non-Saudi persons.

Middle East Venture Partners led the financing, with participation from Aramco’s Wa’ed Ventures, Al Jomaih Holding, Republic, and Mubadala Investment Company, Abu Dhabi’s sovereign investor.

Stake co-founder Manar Mahmassani anticipates “huge tailwinds from pent-up demand from the local population and opening up to foreign ownership” in Saudi Arabia, as reported by sources. Stake, which launched three years ago, currently has over half a million users and has backed over 200 properties.

With the new capital, Stake plans to increase its Saudi personnel to 15 by the end of 2024, according to the reporting sources.

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