Riyadh - Exclusive Sharikat Mubasher: Safqah Capital Company, a provider of debt-based investment in the real estate development sector, financed around nine real estate projects in various regions across Saudi Arabia during the second quarter (Q2) of 2024, Head of Sales and Business Development Karim Merie told Sharikat Mubasher in an interview on the sidelines of 24 Fintech conference.

Merie clarified that Safqah Capital offers investment opportunities with an annual profit value of 14%.

He highlighted that the Kingdom witnessed a momentum in financial services designed to finance real estate developers and cater to the needs of this rich sector.

Merie said that the Shariah committee at Safqah Capital is committed to providing transparent investment opportunities that are compatible with the provisions and principles of Islamic Sharia.

Headed by Yousef Alshobaily, the Shariah committee reviews all financial operations and procedures of the platform to ensure that all financing and investments adhere to Islamic provisions.

Licensed by the Saudi Capital Market Authority (CMA), Safqah Capital provides Shariah-compliant products to finance real estate developers’ projects and offers a variety of real estate development deals, from purchasing lands to project development.

24 Fintech took place in Riyadh from 3 to 5 September, with the participation of more than 300 exhibitors and over 350 investors. It gathered regulatory bodies, policymakers, investors, technology experts, and industry leaders from around the world.