Saudi real estate firm Asaas launches online auction platform Mazad Aqari

By Arya M Nair, Intern Reporter
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Saudi Real Estate
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Asaas, Saudi Arabia’s leading cloud solution for full-suite real estate management and marketing company, has announced the launch of Mazad Aqari, an online real estate auction platform with multiple prime property auctions across the Kingdom.

Founded in 2018, Asaas is led by Mr. Abdullah Alghadouni. He is a serial entrepreneur who has led multiple startups in Saudi Arabia, including Spoilee, Nana, and Triggers Academy. 

Over 500 real estate companies in Saudi Arabia have trusted the platform in just a few years, and it has processed over $266 million in transactions. During the pandemic, 15 percent of real estate companies are estimated to have shifted their activities to the cloud. Firms using Asaas reported a 60 percent boost in productivity, an 85 percent increase in data and operations utilization, and a 13 percent increase in sales.

Abdullah Alghadouni
Abdullah Alghadouni
CEO-  Asaas

“The real estate market in Saudi Arabia is estimated at $150 billion and is expected to grow at a 12 percent CAGR from 2021 to 2026 according to Statista. Asaas’s solid foundation and experience in real estate marketing and operations make us the ideal platform to capitalize on this market opportunity and transform real estate auctions into the future with Mazad Aqari.”

From marketing properties to collecting payments and staffing, Asaas has been a vital partner in the digital transformation journey of many companies, including Jeddha-based real estate company Lavida realty. Lavida runs on the platform and has launched over 10,000 property listings and conducted over 1200 deals through the platform, making it one of our most efficient sales channels.

Mr. Mohamad Bin Sallmein Al Nahdi, an angel investor in Asaas, also commented on the launch, “Our investment in Asaas is in line with our belief in the importance of digital transformation to achieve the goals of Vision 2030. Asaas provides the best in class platforms and apps for the real estate sector to empower their needs and help them achieve better performance.”

Asaas is a qualified electronic invoicing provider, known as Fatoora, by Saudi’s Zakat, Tax and Customs Authority (ZATCA) which will take effect on December 4th, 2021.

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