RIYADH: Saudi Arabia led Middle East and North Africa startup funding in July, with 16 deals worth $396.5 million, reinforcing its position as the region’s largest market for venture capital. 

The Kingdom’s performance was boosted by three major rounds, including Q-commerce platform Ninja’s $250 million raise led by Riyad Capital, propelling it to unicorn status, foodtech startup Calo’s $39 million Series B extension, and SaaS provider Lucidya’s $30 million Series B, according to Wamda’s monthly report.  

The deals underscore Saudi Arabia’s strength across e-commerce, foodtech, and enterprise technology, drawing strong participation from regional and international investors. 

“While many startups did not disclose their funding stages, two mega deals — Ninja and XPANCEO — accounted for 56 percent of July’s total,” the report said. 

The UAE followed as the second-largest destination for funding, securing $359 million across 22 startups. 

Iraq emerged in third place, propelled by a single $15 million deal for InstaBank, overtaking Egypt, which has traditionally been among the top three markets.  

Morocco claimed fourth position after Ora Technologies’ $7.5 million raise, while Egypt fell to fifth with $4 million across seven startups, a drop linked to macroeconomic pressures and currency fluctuations. 

In total, 57 startups raised $783 million in July, marking a 1,411 percent jump from June and more than double the total from a year earlier. 

Later-stage rounds brought in $158 million, Series A deals raised $267 million, and early-stage startups secured $36 million. Debt financing represented just 2 percent of the month’s total, underscoring equity’s dominance in the funding mix. 

Across the region, deeptech overtook fintech as the top-funded sector for the first time in months, raising $250.3 million in four deals.

E-commerce matched that total, buoyed by Ninja’s record-setting round, while SaaS secured $89 million, and fintech collected $61 million.  

RIYADH:  Dubai’s property market witnessed significant momentum in the first half of the year, registering 4,049 real estate activities.

According to the Dubai Land Department, the surge reflects the emirate’s growing appeal to investors and the range of opportunities for property service providers, Emirates news agency WAM reported.

It also comes amid broader market drivers such as sustained population growth, ongoing infrastructure projects, and government-led efforts to modernize services and enhance regulations.

“These activities reflect the professional diversity in the market and the department’s keenness to provide a flexible environment that meets the needs of investors and clients in various areas of the real estate sector, enhances competitiveness, and aligns with the population and economic growth requirements of the emirate,” WAM said.

One of the most notable undertakings is the “Trakheesi” system, the official platform of the Dubai Land Department for registering and activating a variety of core real estate services.

Registration through the system is mandatory for several types of property licenses, including brokerage for sales and purchases, leasing brokerage, property administrative supervision, valuation services, purchase and sale of land and properties, management of jointly owned holdings, and real estate and mortgage consultancy.

In addition, specific real estate licenses, such as property development, leasing and management of private and third-party properties, and the work of real estate service and promotion trustees, require prior approval from the Trakheesi system.

Brokerage for property sales and purchases topped the list of activities during the first half, accounting for 2,301 registrations.

Leasing brokerage followed with 1,279 activities, reflecting the extensive network of real estate brokers and their role in serving tenants and owners. A total of 273 activities were related to the purchase and sale of land and properties.

Among the recorded activities were property administrative supervision services, mortgage brokerage, real estate consultancy, leasing and management of private and third-party properties, and mortgage consultancy.

The figures directly reflect the streamlined procedures adopted by the department through an integrated digital platform, enabling clients to issue and renew activities with ease, WAM said.

The initiatives are part of the department’s commitment to enhancing Dubai’s investment climate and encouraging innovation in the property sector.

They also align with the Dubai Real Estate Strategy 2033, which seeks to position the emirate as a global property hub while maintaining a safe, flexible business environment that supports sustainable growth and economic diversification.