Aramco-Backed Stake Partners With Mulkia Investment Company To Distribute Real Estate Funds Following MOU Signing

Riyadh, Saudi Arabia - November 14th, 2024: Stake, the leading global digital real estate investment platform, and Mulkia Investment Company, a leading Saudi investment management firm, have signed a Memorandum of Understanding (MOU) to collaborate on exploring and structuring private real estate investment opportunities in the Kingdom of Saudi Arabia.

Signed at Cityscape Global in Riyadh, the agreement represents a significant step towards democratizing real estate investment in the Kingdom, aligning with Saudi Arabia's Vision 2030 to diversify the economy and empower investors. Under the MOU, both parties will work together to develop a pipeline of real estate investment opportunities and financial products, establishing private real estate funds to be managed by Mulkia and distributed by Stake.

Manar Mahmassani, Co-Founder and Co-CEO of Stake, said: “We are delighted to partner with Mulkia Investment Company, a firm renowned for its expertise in asset management and deep understanding of the Saudi market. This collaboration marks a pivotal moment for Stake as we expand our footprint in Saudi Arabia. By combining Mulkia's asset management capabilities with our innovative digital platform, we aim to make real estate investment accessible, transparent, and rewarding for everyone in and out of the Kingdom.”

Omar Al Othaim, CEO of Mulkia Investment Company, commented: “This partnership with Stake is part of Mulkia Investment company’s strategic plans to provide diverse investment options, as we offer our valued customers unique opportunities located in the Kingdom of Saudi Arabia with a leading global platform that has the ideal experience to offer such opportunities. Mulkia Investment Company also aims to invest in vital projects that contribute to the growth of the national economy and achieve the goals of the Kingdom’s Vision 2030 and provide investment opportunities in residential, commercial, office, and other real estate in the Kingdom of Saudi Arabia.”

The partnership will focus on setting up real estate funds that are managed by Mulkia Investment Company and distributed through Stake's fully digital, world-class investment platform. This initiative seeks to lower the barriers to entry for real estate investment in Saudi Arabia, allowing investors to participate from as little as SAR 500 (approximately USD 136).

In June of this year, Stake closed a $14 million Series A funding round with investments from Aramco's Wa'ed Ventures, one of Saudi Arabia's largest venture capital firms, and Mubadala Investment Company, Abu Dhabi's sovereign investor. Stake will be the first platform to offer individuals outside the Kingdom the opportunity to invest in Saudi real estate opportunities. The platform is set to launch imminently in the Kingdom.

About Stake

Stake is a dual-regulated global real estate investment platform that allows anyone, anywhere, to access exclusive investment opportunities in high-growth markets such as the UAE and Saudi Arabia through a fully digital, hassle-free mobile app experience. Launched in 2021, Stake has built an international base of over 800,000 users representing 206 nationalities across 170 countries. While property investing typically involves large amounts of upfront capital and an antiquated buying process, investors globally can access real estate through Stake from as little as SAR 500 (US$136).

For more information about Stake, please visit www.getstake.com.

About Mulkia Investment Company

Mulkia Investment Company is a Saudi Listed Company licensed by the Capital Market Authority to conduct securities business, including dealing, custody, investment management, fund operations, arranging, and advising. Offering diversified financial and investment services tailored to individuals and institutions of all sizes, Mulkia plays a vital role in asset and wealth management within the Kingdom. 

For more information about Mulkia, please visit www.mulkia.com.sa