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Dallali secures first investment round

Wamda

Press release

Riyadh-based property management platform Dallali has raised its first investment round led by AlRamz Real Estate Company and local angel investors, the deal closed in October 2021 with undisclosed amounts. This investment marks the first deal between the established real estate company and the technology start-up company which aims to serve the real estate sector with technology solutions.

Dallali, an integrated platform designed for property owners, offers online services such as listing, viewing, leasing, e-payments, maintenance requests and service tracking. Dallali follows a SaaS business model, where users subscribe to the platform with a monthly or an annual package to access the web app, as well as other useful features which allows the user to set their properties on auto-pilot management. Dallali will remind, collect, credit, and debit each payment. Owners, managers, and tenants all have access to the online portals to track their properties, contracts, and financials in real-time.

The real estate sector in Saudi Arabia is the largest and deepest asset class; however, the technology adoption (PropTech) is still in its early stage. The market needs online tools to empower consumers with access to comparable accurate information to help make informed decisions regarding real estate transactions. Without the right metrics and accessibility, it is difficult to have a proactive property management. Since most of the real estate transactions are redundant, automating these tasks will allow stakeholders to easily focus on improving their asset value.

Abdulrahman AlBeteri and Mohammed AlFayez founded Dallali in late 2020 as a lease management tool for owners and tenants. The platform later developed to offer property listings and a service marketplace through the mobile app, with a goal to integrate all real estate related needs into one platform. The team comes from regulatory and investment backgrounds, and with AlRamz as a partner, they aim to unlock the potential of the local and regional market in alignment with the Kingdom’s Vision 2030. 

 

December 1st 2021, 8:22 am
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