The Capital Market Authority has approved the fintech pilot permit application submitted by Sahem Financial Platform Company to establish a real estate investment fund distribution platform in the Kingdom.
<The CMA said in a statement, «Based on the Capital Market Law issued by Royal Decree No. (M/30) dated 02/06/1424H and its executive regulations and the instructions of the Financial Technology Trial Permit issued by the Board of the Capital Market Authority, the Capital Market Authority announces that Sahem Financial Platform Company has met the requirements to start practicing work with the permit granted to it by the decision of the CMA Board dated 30/05/2022 to trial financial technology for the distribution of investment funds and REITs."
On this occasion, Engineer Mazen Al-Dawood, Chairman of Sahem Financial Platform, expressed his appreciation for the efforts of the Commission and its distinguished role in developing investment in the financial markets, especially enhancing digital transformation services, which contributes to making Saudi Arabia one of the best financial investment markets, according to Al Akhbariya.
He added that the Kingdom has a great potential for real estate investment funds, according to Al Akhbariya. He added that the Kingdom has many promising investment opportunities, especially in the real estate development sector, which is what the Sahem platform is keen on by providing a quality digital experience for citizens and residents in this sector with ease and ease while saving time and effort without fatigue or reviews through the application or website to invest in real estate development projects starting from only one thousand riyals.
The Chairman of the Board of Directors of Sahem Financial Platform Company explained that in partnership with many distinguished partners from fund managers and real estate developers, the platform aims to launch several real estate projects worth more than five billion riyals over the next three years distributed throughout the Kingdom in order to provide options investment opportunities of high quality that meet our customers" ambitions while clarifying investment risks accurately and reliably.
