Stake, the leading digital platform for real estate investment regulated by the Capital Markets Authority, today announced the appointment of Ms. Hanouf Bin Saeed as the new General Manager of Stake KSA.
With over 17 years of experience in the Saudi financial sector, Ms. Bin Saeed's appointment follows her tenure as Head of the Non-Banking Financial Institutions Section at Riyad Bank. During her 4.5 years there, she significantly grew the bank's business from SAR 1 billion to over SAR 12 billion —a 12-fold increase representing over 1,100% growth.
In her new role, Ms. Bin Saeed will oversee all aspects of Stake's operations in Saudi Arabia, leading the local team and forging key partnerships with financial institutions, developers, government entities, and investors.
Manar Mahmassani, Co-Founder and co-CEO of Stake, said, "We are thrilled to welcome Ms. Bin Saeed to the Stake team. Her proven track record and deep understanding of the Saudi financial landscape make her a valuable addition and a perfect fit for our company. We trust that her leadership will bolster Stake's operations and help shape the future of real estate investment in Saudi Arabia and beyond.”
Prior to her role at Stake, Ms. Bin Saeed was instrumental in growing Riyad Bank's portfolio. Notably, more than 60% of the business she managed involved real estate investment funds regulated by the Capital Market Authority.
Commenting on her appointment, Ms. Hanouf Bin Saeed, General Manager of Stake Saudi Arabia, said: "Stake is redefining real estate investment by opening doors to opportunities once out of reach for retail investors. With seamless access to curated assets, we are revolutionizing the market and empowering individuals to build wealth. I’m excited to lead Stake in driving this transformation and shaping the future of real estate investment in the Kingdom."
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.
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Stake is 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 experience.
Launched in 2021, Stake has built an international base of almost 800,000 users representing 205 nationalities across 160 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).
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