- Binbar Investment and Joa Capital launched the USD 133M Marhoon Fund to provide direct financing through lease and usufruct contracts.
- The fund enables Saudi companies to secure loans backed by operational assets, aligning with Vision 2030’s private sector growth goals.
- Saudi’s leasing market is expanding rapidly, with over 1.5M contracts documented via the Ejar platform, boosting transparency and trust.
Binbar Investment
Saudi’s Binbar Investment and Joa Capital signed a partnership to launch the Marhoon Fund. Additionally, Rabeh will serve as the fund’s technical advisor.
The Marhoon fund will be a direct financing fund in Saudi dedicated to securing loans through lease and usufruct contracts. Furthemore, the fund will have a total investment volume of USD 133 million (SAR 500M).
“Binbar Real Estate Development is focused on creating differentiated real estate products, and with Marhoon Fund, we’re targeting direct financing solutions tailored to the rental market in the Kingdom,” said Nasser Al-Majed, Chairman of Binbar Real Estate.
The fund aims to enable Saudi companies to access innovative financing solutions backed by their operational assets as collateral. This in support of private sector growth and diversification of funding sources, in alignment with the goals of Saudi Vision 2030.
“It fosters trust among investors, developers, and tenants alike. Our partnership with Joa Capital is focused on building real financial tools that enable growth and long-term sustainability in the Saudi real estate sector,” said Majed Al-Zahrani, Partner and CEO of Binbar Real Estate.
Leasing Market
The leasing market in Saudi Arabia is undergoing rapid growth and significant regulatory evolution. It is driven by initiatives from the General Real Estate Authority and the “Ejar” platform.
Founded in 2020, Joa Capital is an investment firm with headqaurters in Saudi Arabia. It invests in high-growth technology companies across the MENA region through direct equity investments. Additionally, the firm also supports businesses with private credit tools that provide non-dilutive, operational financing options. Thus, it seeks to enable flexible funding pathways that foster growth and sustainability.
Meanwhile, Binbar Investment is a company specializing in real estate investment solutions.
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