Asaas launches ‘Mazad Aqari’, a Saudi real estate auction platform

Press Release.

Asaas is Saudi Arabia’s leading cloud solution for full-suite real estate management and marketing, launched the online real estate auction platform in Saudi Arabia this week: Mazad Aqari. 

Mazad Aqari was launched this week with multiple prime property auctions across the Kingdom. 

Asaas was founded in 2018 by and is led by Abdullah Alghadouni. Alghadouni is a serial entrepreneur that has led multiple startups in Saudi previous to leading the team at Asaas, namely Spoilee, Nana, and Triggers Academy. 

Within a few years, the platform has gained the trust of over 500 real estate companies in Saudi Arabia and has processed over 1 billion Saudi riyals in transactions on its platform. It is expected 15% of real estate firms have shifted their operations to the cloud during the pandemic. With Asaas, firms report a 60% increase in productivity, 85% improved utilization of data and operations and a 13% improvement in sales. 

“The real estate market in Saudi Arabia is estimated at 150 billion USD, and is expected to grow at a 12% CAGR from 2021 to 2026 according to Statista” commented Abdullah Alghadouni, CEO of Asaas. “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 continued. 

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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” he continued “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.” 

Mohamad Bin Sallmein Al Nahdi, an angel investor in Asaas, also commented on the launch saying “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 December 4th, 2021.

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