Khaberni - "Stik" platform, headquartered in Dubai, has successfully raised 31 million dollars in a second funding round to support its expansion in Saudi Arabia and the United Arab Emirates and to enhance its technological infrastructure.
The round was led by "Emirates NBD", the third-largest bank in the Gulf by market value, with participation from existing investors including "Mubadala Investment Company" and the venture capital arm of "Saudi Aramco", as well as "Middle East Venture Partners", according to the platform's co-founder, Rami Tabbara.
New investors joined the round, including "Property Finder" and "Ellington Properties", alongside "GFH Partners" and "STV Fund Nice", raising the total funding secured by the "Stik" platform since its launch to 58 million dollars, without disclosing the current valuation of the company.
The model of fractional ownership of properties is witnessing rapid growth in the Gulf region, driven by booming demand for properties and rising prices and rents. The platform offers investment opportunities starting from about 136 dollars, and has begun implementing an expansion plan in the Saudi market that includes real estate deals worth up to one billion Saudi riyals, benefiting from the growing interest of foreign investors. The company has also entered the American market by offering stakes in warehouses in Baltimore and Maryland.
Rami Tabbara stated that the new funding will be allocated to developing solutions based on artificial intelligence and digital encoding technologies, in addition to launching new products including commercial properties and retail properties. He also mentioned the platform's expansion over the past year through "Stik One", which focuses on digitalizing the processes of property ownership and post-sale asset management. He confirmed that the demand for investing in real estate assets is expected to increase in the coming years.
The platform imposes fees of 1.5% at investment and 2.5% at exit.
Saudi Arabia is a strategic market for the company, which operates under the supervision of the Capital Market Authority, where it has closed three real estate funds since the end of 2024, raising more than 416 million Saudi riyals and attracting nearly 7,000 international investors.
The number of users of the platform, founded by Rami Tabbara in partnership with Manar Mohsini and Ricardo Presedo, exceeds two million users.
