Thara Plans to Increase Crowdfunding for Real Estate Developers and Small Investors to 100 Million SAR by Year-End

Thara, a company specializing in debt crowdfunding services in Saudi Arabia, plans to boost its financing for real estate developers and small investors to reach 100 million Saudi Riyals by the end of this year.

Thara, which began its operations in early 2024 with capital licensed by the Saudi Central Bank (SAMA), is a platform dedicated to debt crowdfunding in Saudi Arabia.

This was revealed by Abdulelah Alsaab , Chairman of the company, in a special interview with “Entarabi” on the sidelines of the “24Fintech” Conference and Exhibition, hosted by the Riyadh International Convention & Exhibition Center.

The event, themed “Beyond Boundaries… Beyond Time,” is organized by Fintech Saudi and Tahaluf Company, taking place from September 3 to 5.

Alsaab mentioned that the company has been licensed for financing amounts up to 7.5 million Saudi Riyals by the Saudi Central Bank. He also disclosed that Thara plans to increase its financing cap beyond this amount in the coming periods, in line with the regulatory updates and rules set by the Saudi Central Bank.

Alsaab emphasized that Thara aims to provide more funding opportunities for small investors and real estate developers, aiming to capture a significant market share to meet the needs of more clients through the platform. He noted that all financing requests from these categories had been covered in previous periods.

He also mentioned that Thara facilitated a total of 10 million Saudi Riyals in financing during July and August of this year, provided to small investors and real estate developers.

About Thara Debt Crowdfunding

Thara is a financial technology company specializing in financing real estate development projects.

It connects individual and institutional investors with investment opportunities in the real estate development sector through Tawarruq (a form of Islamic financing).

The aim is to provide liquidity for real estate development projects and offer investment returns to funders.