Stake, a frontrunner in the digital real estate investment sphere, has recently secured a substantial $14 million in a funding endeavor.
Leading the investment round was Middle East Venture Partners (MEVP), with notable contributions from entities such as Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and Republic, a prominent private investing firm in the United States.
Over the past three years, Stake has achieved remarkable growth within Dubai’s real estate market, attracting a user base exceeding half a million. With the infusion of new capital, the company sets its sights on the Saudi Arabian market, aiming to be the pioneering platform to provide individuals outside the Kingdom with access to investment opportunities in Saudi real estate—a market ripe with potential for both regional and global investors.
The freshly acquired funds are earmarked for broadening the investor pool, unveiling new investment offerings on the platform, and cultivating a top-tier team to further refine its market-leading product. Stake’s groundbreaking model facilitates fractional property ownership, with investment entry points starting at a mere AED 500, revolutionizing the way real estate investment is approached in the region.
Rami Tabbara, Stake’s Co-Founder & Co-CEO, expressed gratitude for the investors’ trust, emphasizing the commitment to expanding the platform’s offerings and providing prime investment opportunities. “The real estate investment process is on the brink of complete digitization, and we are just beginning to unveil our vision of making real estate accessible, transparent, borderless, and liquid,” he stated.
Manar, another Co-Founder & Co-CEO at Stake, underscored the strategic significance of the Saudi market, projecting a 6% growth by 2025 and positioning it as one of the fastest-expanding G20 economies. The aim is to offer Stake’s users the chance to invest early and partake in the market’s growth.
“This capital raise is a pivotal point in our journey as we tap into this vibrant new market and join forces with remarkable new shareholders, including some of the most influential institutional and sovereign investors in the region, to further our mission of enabling wealth building through real estate for everyone,” Manar added.
Walid Mansour, Co-founder & Co-CEO of MEVP, expressed his excitement about Stake’s progress and potential for success in the region with the help of the strategic investment. Fahad Alidi, Managing Director at Wa’ed Ventures, also commented on the expansion, applauding the team’s efforts to democratize real estate investing and make it accessible beyond high-net-worth individuals.
Since its launch in 2021, Stake has reshaped the Dubai real estate market by enabling global investors to engage in fractional ownership. The platform has recorded the sale of over 200 properties totaling AED 355 million and has surpassed 100,000 transactions as of May 2024. Earlier in the year, Stake earned a spot as a Rising Star on the Deloitte Technology Fast 50 list for the Middle East and forged a strategic tie-up with Republic to facilitate real estate investment opportunities for US and UK investors in the UAE and Saudi Arabia.