Asaas, a leading cloud solutions provider for full-suite real estate management and marketing in Saudi Arabia, has launched its online real estate auction platform - Mazad Aqari.
Founded in 2018 by Abdullah Alghadouni, a serial entrepreneur, Asaas has gained the trust of over 500 real estate companies in Saudi Arabia and has processed over SR1 billion ( ) in transactions on its platform.
According to industry experts, 15% of real estate firms have shifted their operations to the cloud during the pandemic.
As a leading proptech solutions provider, Asaas provides real estate owners and managers with tools to manage maintenance, CRM, and promote their properties.
With Asaas, firms report a 60% increase in productivity, 85% improved utilization of data and operations and a 13% improvement in sales, stated its CEO Alghadouni.'
Mazad Aqari was launched this week with multiple prime property auctions across the kingdom.
"The real estate market in Saudi Arabia is estimated at $150 billion and is expected to grow at a 12% CAGR from 2021 to 2026, said Alghadouni, citing Statista.
"Asaas’s solid foundation and experience in real estate marketing and operations make us the ideal platform to capitalize on this market opportunity and transform real estate auctions into the future with Mazad Aqari," he noted.
Ahmed Allabbad, the CEO of Lavida Realty said: "Asaas has been a vital partner in our digital transformation journey, from marketing our properties to collecting payments and staffing, our business is run on the platform."
"We have launched over 10,000 property listings and conducted over 1200 deals through the platform, making it one of our most efficient sales channels," he added.
On the new e-auction platform launch, Mohamad Bin Sallmein Al Nahdi, an angel investor in Asaas, said: "Our investment in Asaas is in line with our belief in the importance of digital transformation to achieve the goals of Vision 2030. Asaas provides the best in class platforms and apps for the real estate sector to empower their needs and help them achieve better performance."
Asaas is a qualified electronic invoicing provider, Fatoora, by Saudi’s Zakat, Tax and Customs Authority (Zatca) which comes into effect in December.-TradeArabia News Service