Photo: PRYPO Founder & CEO, Amira Sajwani

Proptech startups in the MEA face both immense opportunities and challenges as they navigate the capital-intensive nature of the industry. 

The sector's reliance on significant capital expenditure (CAPEX) makes it essential for startups to form strategic partnerships with established incumbents. In an environment where Venture Capital (VC) increasingly prioritizes capital efficiency, startups that target inefficiencies without requiring heavy investment will be more attractive to investors, than those that do.

One of the critical strategies for startups to succeed in this evolving market is focusing on software-driven solutions and services that enhance existing infrastructure. These assetlight models are more scalable and capital-efficient, making them ideal for an industry where leaner investments are becoming the norm. Solutions such as IoT-enabled property management systems or digital platforms for real estate transactions require less upfront capital than physical construction, yet they offer significant value by improving operational efficiency and enhancing tenant experiences.

The MEA Proptech ecosystem is progressing through distinct phases of development. Established segments like property marketplaces are already well-integrated, while newer models, including fractional ownership and tokenization, are gaining momentum. These innovations democratize access to real estate investment, allowing smaller investors to participate in high-yield property assets through digital tokens. At the same time, transformative technologies like modular construction and generative design are poised to reshape how real estate is developed. Though still nascent, these innovations promise to reduce costs and accelerate project timelines.

For startups that can strategically align with these technological advancements while maintaining capital efficiency, the potential is vast. By leveraging partnerships, focusing on scalable solutions, and embracing emerging technologies, startups will be wellpositioned to drive the next phase of growth in MEA’s Proptech market. In a region characterized by rapid urbanization, sustainability efforts, and a growing demand for innovative real estate solutions, the future for Proptech startups is only just beginning to unfold.

 

#1 Sakan

Proptech Sub-sector: Real Estate Marketplace

Founded: 2016 

HQ: Kuwait 

Fund Raised: US$20M

Growth Stage: Series A

Founded by Ahmed Al Saleh in 2016, Sakan is a full-stack real estate marketplace, offering a unique and integrated property experience for various stakeholders in the real estate sector of Kuwait, Saudi Arabia, Oman, and Bahrain. Sakan acquired hapondo, Qatar’s premier real estate marketing platform, in May 2024 then closed its Series A funding round of US $12 million in October. The Sakan team along with hapondo’s help is now expanding operation into Qatar’s market.

#2 Ejari 

Proptech Sub-sector: Rent-Now-Pay-Later (RNPL) 

Founded: 2022 

HQ: Riyadh, KSA

Fund Raised: US$15.6M

Growth Stage: Seed

Founded by Yazeed Al-Shamsi, Fahad Albedah, Mohammed Alkhelewy, and Khalid Almunif in 2022, Ejari offers a Rent Now, Pay Later (RNPL) solution for the Saudi real estate rental market. This service allows tenants to spread their rental payments over 12 months, providing much-needed flexibility in a market where over 70% of rentals are paid annually or biannually. Ejari closed its US $14.65 million seed round led by Partners for Growth and BECO Capital in October 2024, which will be used to enhance Ejari's technology, expand its product offerings, and improve customer experience.

#3 PRYPCO

Proptech Sub-sector:  Fractional Ownership & Home Loans

Founded: 2022 

HQ: Dubai, UAE

Fund Raised: US$10M

Growth Stage: Seed

Founded by siblings Amira and Ali Sajwani in 2022, PRYPCO aims to simplify the real estate journey across the UAE. PRYPCO facilitates home loans with quick approvals, allows fractional ownership in real estate, provides access to secondary properties for real estate brokers, and assists clients in obtaining long-term residency in the UAE. PRYPCO secured its US $10 million seed round in September 2024, which will be used to scale the business further and expand organically.

#4 Rize

Proptech Sub-sector: Rent-Now-Pay-Later (RNPL)

Founded: 2021 

HQ: Riyadh, KSA

Fund Raised: US$2.9M

Growth Stage: Seed

Founded by Mohammed AlFraihi in 2021, Rize transforms rental payments for both residential and commercial properties through its "Rent Now, Pay Later" service, which allows tenants to split their annual rent into manageable monthly installments. Along with the Ejar Sublease Agreements, Rize services benefit tenants by providing financial flexibility and landlords by ensuring they receive the full rent amount upfront. Rize closed its seed funding round in February 2024, raising US $2.9 million. The company is using the funds to make monthly payments the standard in residential and commercial leases as well as expand further across the Kingdom.

#5 Darent

Proptech Sub-sector: Vacation Home Rental Marketplace 

Founded: 2021

HQ: Riyadh, KSA

Fund Raised: US$1M

Growth Stage: Seed

Founded by Dr. Hanin Alsubaie in 2021, Darent connects travelers with local hosts, providing them with local living experiences through a variety of vacation rentals including apartments, villas, chalets, and tents across Saudi Arabia. Their mission is to create a platform that simplifies the vacation home rental process and celebrates travel experiences. Darent closed its seed funding round led by Al Tawuniya Insurance in September 2024, which will be used to enhance the company's technological capabilities and further develop its platform to provide a seamless and integrated user experience.

#6 Arktech

Proptech Sub-sector: Real Estate Investment Tech 

Founded: 2023

HQ: Riyadh, KSA

Fund Raised: US$1M

Growth Stage: Pre-Seed

Founded by Waheed Al Jassas in 2023, ARKTECH is transforming real estate investments across MENA by ensuring profitable returns through innovative tech-enabled solutions. ARKTECH offers a variety of investment channels and structured investment contracts in prestigious real estate that have fixed returns and produce income on a regular basis. ARKTECH closed its US $1 million pre-seed funding round led by Core Vision Investment in October 2024, which will bolster ARKTECH’s role as a utility contract trading leader by expanding its suite of investment services.

#7 HissaTech

Proptech Sub-sector: Fractional Ownership

Founded: 2024

HQ: Riyadh, KSA

Fund Raised: US$667K

Growth Stage: Pre-Seed

Founded by Ali Alshareef in 2024, Hissatech connects investors with real estate entities in a secure and user-friendly environment. The platform offers fractional ownership in real estate properties, allowing individuals to co-own homes and earn rental income or potential capital gains. HissaTech closed its pre-seed funding round in September 2024, raising SAR 2.5 million (approximately US $667,000) led by angel investors. The funds will be used to enhance the company's digital platform, expand its customer base, and build strategic partnerships.

#8 Holo

Proptech Sub-sector: Mortgage Platform

Founded: 2019

HQ: Dubai, UAE

Fund Raised: (Undisclosed)

Growth Stage: Seed

Co-founded by Michael Hunter and Arran Summerhill in 2019, Holo is the first digital mortgage platform in the Middle East. It aims to simplify the home-buying process by providing access to over 500 mortgage products from various banks in the UAE, offering a fully digital onboarding experience which allows buyers to upload and verify documents online, track their mortgage applications, and receive personalized recommendations. Holo closed its oversubscribed seed round in May 2024, led by DFDF and Oryx Fund. The capital is being directed towards the development of key product lines, as well as enlarging its market presence in the UAE and expanding its footprint across the GCC with an immediate focus on KSA.

#9 Bird Nest

Proptech Sub-sector: Rental Management Platform

Founded: 2020

HQ: Cairo, Egypt 

Fund Raised: (Undisclosed)

Growth Stage: Series A

Founded by Moustafa El-Nahawy and Ahmed Fadda in 2020, BirdNest offers furnishing services and rental management solutions, aiming to transform the rigid and isolating housing model by providing flexible, community-driven living experiences. BirdNest builds and activates homes for stays ranging from one night to over a year, catering to millennials and young professionals. BirdNest closed its pre-Series A funding round in May 2024, selling a 20% stake to investors including Beltone Venture Capital and CI Venture Capital. The funds are being used to expand the regional quality team, enhance proprietary technologies, and grow operations in key markets such as Athens, Dubai, and Riyadh.

#10 Ayen 

Proptech Sub-sector: Inspection Solutions 

Founded: 2018 

HQ: Riyadh, KSA

Fund Raised: (Undisclosed)

Growth Stage: Pre-IPO

Founded by Ali Almohsen, Abdulrahman AlMulqi, and Aymen Alsarory in 2018, AYEN offers inspection solutions for structural, architectural, electrical, and mechanical elements of properties. The platform aims to simplify the property inspection process and make it affordable for individual property buyers. AYEN acquired Elmawkaa, a construction technology startup, as part of its pre-IPO investment round in November 2024. Focused on project financing and real estate insurance, it is also opening doors to new markets in the GCC, p

Get a round-up of the biggest proptech activity, opportunities and stories from the Middle East, Africa, Pakistan and Turkey in 2024, by downloading our latest Special Report, “MEAPT PropTech Review 2024.”