SEDCO Capital and Wahed Partner to Expand Real Estate Investment in Makkah and Madinah

SEDCO Capital and Wahed have announced a strategic partnership aimed at broadening access to the real estate market in Makkah and Madinah. The partnership, which is part of Saudi Arabia's Vision 2030 initiative, seeks to provide Shariah-compliant investment opportunities for a broader range of investors, including those from the global Wahed investor base.

The collaboration will launch a publicly offered real estate investment suite, combining SEDCO Capital's extensive local expertise in Saudi real estate with Wahed's digital investment capabilities. The goal is to offer diversified exposure to professionally managed real estate assets, serving residents, pilgrims, businesses, and visitors across the two holy cities.

According to Abdulwahhab Abed, CEO of SEDCO Capital, Makkah and Madinah are pivotal to the Kingdom's ongoing transformation. He noted, "Makkah and Madinah are at the heart of the Kingdom's most important transformations. The investment taking place is about meeting the needs of growing global demand while creating lasting economic opportunity."

Wahed, a New York-based global Islamic financial technology company, brings its experience in making professionally managed investments accessible to a wider audience. Mohsin Siddiqui, CEO of Wahed, emphasized, "Over the years, one question has come up again and again from Wahed clients around the world: how can I invest in Makkah and Madinah? This partnership is designed to change that."

The investment suite is expected to provide a Shariah-compliant route for international investors, many of whom have faced barriers to direct access to real estate in Makkah and Madinah due to high entry values, local market boundaries, and a scarcity of professionally managed products. Wahed's platform aims to narrow this gap, offering eligible investors exposure to a professionally selected portfolio without requiring them to source and manage individual properties.

This initiative aligns with Saudi Arabia's broader economic diversification goals under Vision 2030. The program aims to enable 30 million Umrah pilgrims annually by 2030, while also improving the experience of pilgrims and visitors. The development of accommodation, hospitality, retail, residential property, and supporting infrastructure in Makkah and Madinah is crucial to meeting these targets.

Wahed, with over 500,000 clients globally and more than $2 billion in assets under management and administration, is well-positioned to bring its client base to the partnership. SEDCO Capital, a global, Shariah-compliant, and ESG-led asset management and investment advisory firm, oversees over $13.5 billion in total assets under management and is committed to responsible investments.

The partnership is seen as a significant step towards the long-term growth of the two holy cities and aligns with the broader economic diversification goals of Saudi Arabia. Both companies are confident that their combined expertise will enable them to deliver on the vision of Vision 2030, providing a credible and Shariah-compliant pathway for investors to participate in the development of Makkah and Madinah.