RIYADH: Saudi Arabia’s Real Estate General Authority announced an increase of 185 percent in the number of renewed Owners’ Association Certificates through its electronic portal during the first half of the year compared to the same period in 2024.

The number of renewed certificates exceeded 635 during this period, as part of the authority’s efforts to create a sustainable regulatory environment that safeguards the rights of property owners and residents of jointly owned real estate units.

As a key part of Saudi Vision 2030, REGA aims to professionalize real estate practices, streamline licensing, and promote investment through digital platforms like Mullak. In addition, REGA has introduced off-plan property regulations to better protect both buyers and developers.

Mullak’s indicators for the first half show the establishment of 3,600 new Owners’ Associations, covering more than 9,000 registered real estate units.

This brought the total number of accredited associations to 17,000. Over 16,000 new members joined during this time, raising the total number of registered members on the portal to more than 160,000.

The authority also registered 4,000 association presidents and over 1,000 property managers, reflecting the growing scope of participation in association management and the increasing interest in regulating relationships between owners and improving the efficiency of community management.

REGA said the total number of transactions processed through the Owners’ Associations portal exceeded 74,000.

These transactions included property registrations, ownership transfers, appointment voting for association leaders, and issuance and renewal of certificates.

The portal also provides additional services to support the development and regulation of the real estate sector.

The authority said that property managers in accredited Owners’ Associations are authorized to document lease contracts related to the investment of common areas.

Such contracts require prior approval through members’ voting on the electronic portal before they can be officially documented via the Ejar platform.

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.