Khaled Al-Mobid

Can you walk us through your milestones and growth since your inception?

I established Menassat in 2018. Since then, we have faced challenges such as COVID-19 and other globally issues impacting the business; however, we have weathered them all. Today, we are one of the largest real estate services companies and are still growing. We have three offices in Riyadh, Jeddah, and the Eastern province, with over 150 employees. We offer five types of services; the first is real estate appraisal, for which we are authorized by the Saudi Authority for Accredited Valuers (Taqeem). Our client list comprises almost all the major banks, companies, and government entities in Saudi Arabia. We also provide study and research services, brokerage services, property management, and real estate marketing. We are about to launch an app called Gomenassat that we expect to become the next real estate hub.

Who are your strategic partners in the sector?

We hope to strategically partner with the Ministry of Municipality, Rural Affairs, and Housing in hopes of fully accessing its data and information to help us give better results in terms of the market research we conduct. Thus far, we value our partnership with the National Housing Company (NHC), as we are the sole marketers of their products in Jeddah. I strongly believe in partnerships as this is the future. I am also a big believer in AI as the future of business. That is why I invest quite substantially in the technology. We are not looking for investors to partner with us for funding, but rather, the right expertise and hope to sign a technical partnership.

What do you envision for the company in the year ahead?

Our plan is to expand to the GCC countries. It is not easy to enter such markets, although one of our competitive advantages is the ERP system. Once a company succeeds in Saudi Arabia with all its tough rules and regulations, it can succeed everywhere.