Fueling Innovation in Saudi Arabia’s Proptech Sector
Saudi-based Ajras, a proptech startup, has secured $1.5 million in a Pre-Series A funding round led by Veda Holding. This investment will accelerate the company’s expansion in digital real estate solutions, particularly through its “Rent Now, Pay Later” model, which simplifies transactions between landlords and tenants.
The funding round comes as Saudi Arabia’s proptech industry experiences significant growth, driven by Vision 2030, smart city initiatives, and increasing investments in digital real estate solutions.
Ajras is Transforming Real Estate Transactions
Founded in 2022 by Muath Aljubailan, Ajras provides financing solutions that streamline rent payments for tenants while ensuring smooth transactions for property owners. The startup is licensed by Saudi Arabia’s General Authority for Real Estate and primarily focuses on commercial and industrial properties.
Ajras operates as a commercial intermediary, facilitating:
- Seamless rent payments
- Efficient property management
- Better communication between tenants and landlords
- Digital document uploads and management
Recently, the company introduced its “Rent Now, Pay Later” feature, enabling tenants to manage rent more flexibly, reducing financial strain while ensuring landlords receive timely payments.
This latest investment follows Ajras’ previous funding round of $28 million in November 2023, led by Madarek International, further solidifying its position in Saudi Arabia’s growing digital real estate ecosystem.
What is Proptech & Why is It Booming in Saudi Arabia?
Proptech (property technology) refers to digital solutions that enhance real estate transactions. These tools optimize buying, selling, renting, and managing properties, improving efficiency for landlords, tenants, buyers, and investors.
Saudi Arabia’s proptech sector is undergoing rapid transformation, fueled by:
- Vision 2030 initiatives promoting digital transformation
- Smart city projects, such as NEOM, integrating AI and IoT
- A surge in venture capital investment in real estate tech startups
- The rise of online property marketplaces & rental platforms
In recent years, several Saudi proptech startups have raised significant funding, including:
- Ejari ($14.65 million in 2024)
- Rize ($35 million in 2025)
With Saudi Arabia’s real estate market projected to grow from $74.99 billion in 2025 to $109 billion by 2030 (CAGR of 7.89%), there is massive potential for proptech innovation.
Ajras’ Role in Shaping the Future of Saudi Proptech
Ajras is well-positioned to capitalize on Saudi Arabia’s booming real estate sector, offering technology-driven solutions that:
- Enhance rent payment flexibility
- Improve property management efficiency
- Support Saudi Arabia’s smart city vision
With strong investor confidence and increasing demand for digital real estate solutions, Ajras is set to become a key player in Saudi’s proptech revolution.
