Binbar Investment and Joa Capital Launch USD 133.3 Million “Marhoon” Fund to Finance Companies Through Lease and Usufruct Contracts
Riyadh — Binbar Investment, a company specialized in real estate investment solutions, has announced the launch of the “Marhoon” Fund in partnership with Joa Capital, with Rabeh serving as the fund’s technical advisor. Valued at $133.3 million, Marhoon is the first direct financing fund in Saudi Arabia dedicated to providing financing for companies by securing loans through lease and usufruct contracts.
The fund is designed to enable Saudi companies to access innovative financing solutions backed by their operational assets as collateral. This approach supports private sector growth, enhances financial flexibility, and contributes to diversifying funding sources in line with the objectives of Saudi Vision 2030.
Nasser Al-Majed, Chairman of Binbar Real Estate, stated: “Binbar Real Estate Development is focused on creating differentiated real estate products, and with Marhoon Fund, we’re targeting direct financing solutions tailored to the rental market in the Kingdom.”
Majed Al-Zahrani, Partner and CEO of Binbar Real Estate, added: “We believe that direct financing backed by usufruct contracts represents a transformative shift in how real estate assets are funded. It fosters trust among investors, developers, and tenants alike. Our partnership with Joa Capital is focused on building real financial tools that enable growth and long-term sustainability in the Saudi real estate sector.”
Mr. Yousef AlYousefi, CEO and Managing Partner at Joa Capital, said: “We are proud of this partnership, which aligns with Joa Capital’s objectives and reflects our confidence in the strength of Saudi Arabia’s real estate market. This market is being empowered by digital platforms that improve liquidity access for property owners and stimulate investment. We are pleased to be working with a strategic partner who shares our vision of developing innovative financial solutions to support private sector growth.”
The Saudi leasing market is witnessing accelerated growth and a strong regulatory evolution, driven by initiatives from the General Real Estate Authority and the “Ejar” platform. Over 1.5 million commercial and residential lease contracts have been documented, with an increasing reliance on unified digital agreements that enhance transparency and trust between all parties.
These standardized contracts are now recognized as enforceable legal instruments, strengthening their reliability as collateralizable and financeable assets. The launch of Marhoon Fund at this stage represents a strategic step backed by a solid legal and regulatory foundation, empowering companies to access secure and effective financing sources that improve cash flow and support expansion and growth plans.
Joa Capital, established in 2020 and headquartered in Saudi Arabia, is a private markets investment firm investing in high-growth technology companies across the MENA region through direct equity investments and private credit vehicles that provide flexible, non-dilutive financing solutions.
