RIYADH: The number of companies, investment funds, and individuals, as well as insurance firms investing through Saudi Arabia’s “Sukuk Capital” crowdfunding platform has reached around 800,000 over the past five years, with investments totaling SR11.6 billion ($3.1 billion), according to the company’s CEO of Investment.
Speaking to Al-Eqtisadiah, Saud Al-Muhanna said the number of companies benefiting from the financing provided through the platform has exceeded 600, adding that 36 percent of Sukuk Capital’s financing portfolio has been allocated to real estate projects backed by mortgages, while financing extended to industrial companies accounted for 20 percent.
Al-Muhanna noted that expansion financing provided to education and healthcare companies represented 15 percent of Sukuk Capital’s financing portfolio, highlighting the high level of investor confidence in the company, which accounts for 60 percent of the market share in the crowdfunding financing sector.
This financing has enabled companies to expand by increasing student capacity in educational institutions, growing hospital bed capacity, and boosting production capacity at factories producing basic materials, petrochemicals, and metals, contributing significantly to the Kingdom’s economic development.
