Deal app will be ready for Nomu listing after several funding rounds: CEO

Salah Al-Suwaidan, CEO of Deal App

Salah Al-Suwaidan, CEO of Deal App, said that the real estate exchange is a supportive and assisting tool for the real estate brokers and investors, as it reflects the volume of real estate deals executed by the Ministry of Justice.

The app specializes in the process of searching for commercial and residential properties for renting or selling, he said in an interview with Argaam on the sidelines of the Restatex Riyadh Real Estate Exhibition 2022.

He highlighted the role of the app in receiving requests that exceeded 100,000 and referring them to 22,000 real estate brokers registered with the Deal app in the Kingdom, who, in turn, communicate with customers to complete deals.

The Deal app has looked for sources of income through the payment of a fee to upgrade the application to a "serious request" to be placed at the forefront of applications, in addition to the subscriptions from real estate brokers and other new proposed products.

The CEO added that the volume of deals that were conducted through the application exceeded SAR 500 million.

He also revealed that the app plans to launch a new product in the coming weeks, which is a participatory economy between the application, the real estate broker and the applicant through which the issue of searching for a property will be ultimately solved.

As for the possibility of listing the app on the Nomu Parallel Market, he said that the app has several upcoming financing rounds and will be ready to list on the Nomu upon their completion