MBC GROUP, the largest and leading media group in the Middle East and North Africa (MENA) region, has announced a strategic partnership with Stake, a leading Dubai based fintech and real estate investment platform.
The partnership deal will support the growth of the investment platform through MBC’s diverse offerings, which includes digital platforms, TV channels, and events, activations and more. Meanwhile, Stake will provide MBC GROUP with priority investing in future funding rounds at the company.
Fadel Zahreddine, Group Director of Emerging Media at MBC GROUP stated: “Here at MBC GROUP, we have a firm commitment towards supporting and elevating the most promising entrepreneurial digital solutions from the region. And Stake definitely fits the bill.
“We are immensely supportive of the current thriving ecosystem of digital businesses in the GCC and Middle East. And we look forward to working with and supporting Stake in this unique strategic partnership.”
This strategic partnership will also support Stake in establishing a stronger foothold in the real estate investment sector and serving a greater number of investors as it expands its offerings to Saudi Arabia, followed by UK and Egypt.
Since its launch approximately one year ago, Stake – known as the world’s first Shariah-certified property investment platform – has attracted over 17,000 registered users from 30 countries and over 100 different nationalities, completing a total of 30 property investments on its platform. It has reached US$10 million in assets under management, while witnessing an average monthly growth of +27%. Stake recently released its mobile app, the first and only digital real estate investment app in the region.
Rami Tabbara, Co-founder of Stake commented: “Our partnership with MBC GROUP comes at an important time for Stake as we increase our visibility across the United Arab Emirates, and MENA.
“With over 160 million weekly viewers and over 90% household penetration in Saudi Arabia, partnering with MBC GROUP was a no brainer in our goal to make investing in rental properties easy and transparent in the region”.
Manar Mahmassani, also Co-founder of Stake, added: “The MENA region has about 400 million people with hundreds of billions of dollars in annual savings. However, as a predominantly young population, most have little-to-no investment experience and exposure. With MBC GROUP as our partner, we can widen our reach across its leading platforms and introduce Stake’s better way of investing in real estate to a greater pool of households in the region.
“A big step forward for Stake, this partnership will allow us to further our mission to empower everyone to own and build wealth through real estate.”