Abu Dhabi Proptech Startup SmartCrowd Secures Saudi Fintech Licence

Abu Dhabi Proptech Startup SmartCrowd Secures Saudi Fintech Licence

SmartCrowd Holdings, a regional pioneer in fractional real estate investments, has been granted a FinTech experimental license by the Saudi Capital Markets Authority (CMA).

SmartCrowd is currently working on completing business requirements for the upcoming launch of its Real Estate Funds Distribution Platform, making alternative assets accessible to the general public within Saudi Arabia soon.

Saudi Arabia’s residential real estate market is an immense untapped sector offering an excellent opportunity for regional and global investors, with forecasted market growth (CAGR) of more than 9.74% between 2022 – 2027.

Valued at SAR 156bn in 2021 (Source: Knight Frank), the real estate market is expected to grow significantly, in line with the country’s Vision 2030, the rapid pace of new developments, and the Kingdom’s ongoing efforts to diversify its economy away from reliance on oil and gas revenues.

Abdullah A. AlOthaim

Abdullah A. Al Othaim, CEO of Mad’a Investment, a Saudi-based firm and lead investor in SmartCrowd’s latest bridge round, said:

“SmartCrowd’s expansion into Saudi Arabia provides an ideal opportunity for locals to diversify their portfolio and global investors to take advantage of the thriving Saudi real estate market.

“The current global markets are facing major challenges. SmartCrowd provides an opportunity to diversify against uncertainty since the real estate