SmartCrowd granted fintech experimental permit by Saudi Capital Markets Authority

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

Currently headquartered in Abu Dhabi as part of Hub71’s tech ecosystem, SmartCrowd’s expansion into Saudi Arabia aligns with its mission of making real estate investing more accessible to the masses by enabling individuals to invest in income-generating properties collectively.

Since its inception, the platform has funded over 75 properties worth over AED 65 Million, distributed over AED 3.2 Million in rental income, and recently exited an investment property with a total return of 39.25%, demonstrating a complete investment cycle. SmartCrowd is also one of the few wealth-tech platforms in the region that has generated tangible returns to its investors, making the product appealing to its users, as evidenced by its 65% reinvestment rate.

SmartCrowd’s platform users are 80% UAE-based. The remaining 20% come from all over the world, even as far as New Zealand and Australia, and are using SmartCrowd to build a diversified real estate portfolio.

Having witnessed double-digit growth in both AUM and investors over the last two quarters, SmartCrowd will be raising fresh capital to finance its regional expansion.

The SmartCrowd mobile application, now available on iOS App Store and Google Play, makes real estate investments even simpler and more accessible.