The Saudi startup "Ghanem," specializing in property technology (Proptech), announced the closing of an additional $1.5 million funding round as part of its Pre-seed round, bringing the total funding the company has received to $8.6 million. This round saw participation from a group of real estate companies and strategic angel investors, alongside previous investments from Al-Rumaih Holding and Wa'ed Ventures.
Business Model and Technical Innovation
Founded in 2025 by Saleh Waheed Al-Ghamdi and Amr Essam, "Ghanem" offers a digital platform that allows individuals and institutions to invest in income-generating real estate through a "fractional ownership" model. The minimum investment for available opportunities starts at 1,000 Saudi Riyals, aiming to lower barriers to entry into the real estate market.
The platform has achieved significant technical progress through direct digital integration with the Real Estate Registry (RER), a service that is now active. This integration allows for the registration of fractional ownership shares and the issuance of digital title deeds directly in the names of investors, providing documented legal and digital status to the transactions. The company has already successfully issued digital title deeds to 580 investors in the first real estate opportunity it offered through its application.
Why This News Matters
This development represents a significant step in the digitization of the real estate sector in the Kingdom of Saudi Arabia, as "Ghanem" operates within the regulatory sandbox of the Real Estate General Authority (REGA). This regulatory presence provides investors with a higher degree of security, especially since all offered properties undergo inspection, auditing, and valuation processes by certified appraisers, in addition to all products receiving approval from a Sharia committee.
Future Expansion Plans
The company intends to utilize the new funding across several strategic paths, including:
- Developing the technical product and improving the user experience on the platform.
- Diversifying the real estate investment opportunities available to users.
- Building new strategic partnerships to enhance the platform's growth in the local market.
The company has demonstrated its operational efficiency by distributing periodic rental dividends to investors without delay, which strengthens user confidence in the fractional ownership model it adopts.