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Saudi proptech Jozo has closed an SAR 8.3 million ($2.21 million) seed round, with Wamda and Mubasher identifying Hamad Mohammed Bin Saedan Real Estate Company as lead investor and strategic partner. The company says on its website it is a fractional real estate ownership platform in Saudi Arabia. The funding will go toward technology development, operational scaling, and expanding the investor base, according to Sharikat Mubasher.
Already operating in tokenized real estate
Jozo is not starting from zero. Wamda and Sharikat Mubasher reported that the company had previously issued a tokenized real estate deed through the private sector — described by Sharikat Mubasher as a first in the Kingdom's private sector. Jozo's model lets investors buy fractional interests in income-producing properties and exit by selling their share through the platform. The company's terms state that opportunities are linked to official property records and that client funds are collected in a dedicated account for asset acquisition.
Inside REGA's sandbox
Jozo operates within the Real Estate General Authority's experimental sandbox, and its product is currently under testing. That regulatory context matters. REGA announced that it completed the Kingdom's first real estate tokenization of a title deed and has opened a second sandbox edition with a fractional ownership track. The National Real Estate Registration Services Company holds the exclusive mandate for title registration in Saudi Arabia, and reporting indicates the second sandbox round includes tokenization as a core track.
Where things stand
Jozo has more capital to expand a model that is still tied to supervised testing and registry-linked records. For investors, the offering today is fractional interests in rental properties through the platform. For the broader Saudi market, this is another live example of tokenized real estate developing inside the existing sandbox and title registration structure — not outside it.
