UAE Real Estate Investment Platform Stake Eyes Relocation of Regional Headquarters to Saudi Arabia
One of the leading real estate investment platforms in the UAE, Stake, is contemplating the relocation of its regional headquarters to Saudi Arabia. However, as per a top official, no immediate plans have been solidified yet.
Hanouf Bin Saeed, the general manager of Stake Saudi Arabia, mentioned in an interview with Arab News that the potential move aligns with the company’s strategic vision to expand its presence in the Kingdom. This move aims to leverage the burgeoning real estate market in Saudi Arabia, fueled by the initiatives of Saudi Vision 2030.
Expansion Plans and Growth in Saudi Arabia
While the relocation remains a possibility, Stake’s immediate focus is on expansion and establishing a strong foundation in Saudi Arabia. The company aims to bolster its team, ensure steady growth, and capitalize on the vast opportunities present in the Saudi real estate market.
Stake’s Entry into the Saudi Real Estate Market
Following a successful $14 million funding round in June, Stake officially launched its operations in Saudi Arabia on December 9. The platform debuted with its first real estate investment opportunity, already 60 percent funded by mid-December.
Stake, established in the UAE four years ago, enables individual investors to participate in real estate projects. The platform offers access to real estate investments globally, starting from as low as SR500 ($136).
Strategic Importance of Saudi Arabia for Stake
With over 800,000 users from 170 countries, Stake has facilitated real estate transactions exceeding $130 million in the UAE market. The company has also distributed more than $5 million in dividends to investors from rental income.
Saudi Arabia holds strategic significance for Stake’s expansion plans, given the transformative economic initiatives under Vision 2030. The goal of achieving 70 percent homeownership among Saudi nationals by 2030 highlights the immense potential of the Saudi real estate market.
Future Growth Prospects and Expansion Plans
Stake, being regulated by the Kingdom’s Capital Market Authority, caters to non-resident foreign investors, providing a competitive edge as Saudi Arabia aims to become a global investment hub. The platform recently obtained its CMA license and set up an office with a local team in Saudi Arabia.
Looking ahead, Stake plans to significantly expand its fund offerings in Saudi Arabia, with expectations to launch funds worth SR1 billion in the next six months. The platform is also eyeing opportunities in commercial real estate and office spaces as international businesses enter the Saudi market.
Long-Term Commitment to Saudi Arabia
With the Kingdom’s plans to host the FIFA World Cup in 2034 and the anticipated growth in the hospitality sector, Stake sees Saudi Arabia as a pivotal component of its regional growth strategy. Bin Saeed emphasized the company’s dedication to the Saudi market, aiming to create opportunities and localize the real estate market for long-term success.