Saudi Arabia-based fractional real estate ownership startup Ghanem has raised an additional $1.5 million from real estate companies and strategic angel investors, bringing its total pre-seed funding to $8.6 million.
The extension follows the company’s previously announced $7.1 million pre-seed round, which included Al Rumaih Group. Waad Investment Company has also invested in the startup.
Ghanem allows users to buy fractional stakes in income-generating properties, with investments starting at SAR 1,000 depending on the opportunity. The company said it has digitally issued ownership deeds to 580 investors involved in its first property opportunity through the app, executed several real estate opportunities and distributed rental income without delays or defaults.
Ghanem has also activated a digital integration with Saudi Arabia’s Real Estate Registry, enabling fractional ownership to be documented and deeds to be issued in investors’ names. The startup previously joined the General Real Estate Authority’s regulatory sandbox.
According to the company, the new funding will support product development, expand its range of real estate investment opportunities and help build strategic partnerships. Ghanem said its products have been approved by its Sharia supervisory committee.
Source: EntArabi
