UAE’s SmartCrowd gets FinTech experimental license by Saudi CMA

By Arya M Nair, Intern Reporter
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Saudi CMA
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SmartCrowd Holdings, MENA’s first and biggest regulated platform for real estate investments, has been granted a FinTech experimental license by the Saudi Capital Markets Authority (CMA).

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 (CAGR) of more than 9.74 percent between 2022 – 2027.

Valued at $41.5 billion in 2021, 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.

Siddiq Farid
Siddiq Farid
Co-founder & CEO

“With the newly granted Saudi license, SmartCrowd has solidified its position as a major regional player. In line with increasing demand and investor appetite for diversified real estate opportunities, SmartCrowd will continue to introduce innovative products and enter new regional markets.”

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 $17.6 million and recently exited an investment property with a total return of 39.25 percent, 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 percent re-investment rate.

Related: UAE-based BHM Capital secures Fund Management License from SCA