MASHARIQ

What MASHARIQ does

MASHARIQ (شركة مشارق) is a Saudi Arabian joint stock company headquartered in Al-Khalidiyah, Makkah, operating at the intersection of investment management and Hajj/Umrah pilgrimage services. The company manages diversified investment portfolios locally and internationally with stated alignment to Saudi Vision 2030, while simultaneously overseeing a network of six wholly-owned operating subsidiaries that provide end-to-end pilgrimage, food security, hospitality, and real estate services. The entity traces its corporate lineage to the 1974 Mutawwif system, evolved through an experimental institution phase (1984) and a civil institution phase (2005), transformed into a joint stock company in 2022, and rebranded as MASHARIQ in 2023. The company is led by Chairman Adnan bin Hussain Mandoura and CEO Waleed bin Mohammed Rashidi, with a twelve-member board and approximately 190 employees. Its two named primary customer segments are institutional and high-net-worth investors (for portfolio management) and Hajj/Umrah pilgrims, particularly those from Southeast Asia and other international markets.

The company's product surface combines financial services with operational pilgrimage support, delivered through both digital platforms and subsidiary companies. On the digital side, MASHARIQ operates four principal platforms: the Ebana Platform (منصة إبانة) for electronic services, the Masar System (نظام مسار) for investment portfolio management and tracking, the Hajj Business System (نظام أعمال الحج) for shareholder and investor management, and an Electronic Services Portal for customer support, alongside a Microsoft Dynamics ERP sandbox for internal resource management. On the operational side, the subsidiary network comprises Sana and Almasiah (international pilgrim services, with Almasiah specifically carrying forward the 45-year Southeast Asian Mutawwif heritage), Rakeen (premium Hajj experiences aligned with Vision 2030), Manaf (food security and sustainable food manufacturing), Aljeyad (hospitality and logistics), and Rooa Al-Wadi Real Estate (property development with signed MOUs under Vision 2030).

MASHARIQ's business model blends three revenue streams: investment portfolio management fees on professionally managed portfolios targeting institutional and individual investors (subscription/recurring), professional services revenue from Hajj and Umrah subsidiaries (one-time or seasonal service fees tied to the pilgrimage calendar), and real estate development (one-time/license). Go-to-market combines enterprise field sales for institutional and HNW investment clients, digital self-serve platforms for pilgrim-facing services, and a subsidiary-channel distribution model for specialized Hajj/Umrah offerings. Pricing on investment services is quote-based and not publicly disclosed; pilgrimage services are bundled through subsidiary brands. Revenue, AUM, and shareholder structure are not disclosed in the available source material.

Name

MASHARIQ

Legal name

شركة مشارق

Website

https://sea.com.sa

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

101–250 employees

Short description

MASHARIQ is a Saudi Arabian joint stock company headquartered in Makkah that manages diversified investment portfolios locally and internationally while operating six subsidiaries delivering Hajj/Umrah pilgrimage, food security, hospitality, and real estate services in alignment with Vision 2030.

Ownership category

akta.pro rank

Product category

Investment Portfolio Management and Pilgrimage Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Hajj & Umrah Travel Agencies (THAKAHAA)

akta.pro secondary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Investment portfolio management
• Hajj pilgrimage services
• Umrah services
• Food security services
• Real estate development

Headquarters

HQ city

Makkah

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Portfolio Management: Creating and managing investment portfolios with competitive returns using world-class investment tools and applications. The company diversifies its investment portfolio locally and internationally with sustainable projects aligned with Kingdom vision.
2. Hajj and Umrah Services: Through subsidiaries (Sana, Rakeen, Manaf, Aljeyad, Almasiah), the company provides comprehensive pilgrimage services including travel, logistics, accommodation, and food services for pilgrims from around the world.
3. Real Estate Development: Through subsidiary Rooa Valley Real Estate, the company operates in real estate development and investment sector, with memoranda of understanding signed to enhance projects under Vision 2030.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

MASHARIQ creates and manages investment portfolios with competitive returns locally and internationally, using world-class investment tools aligned with Saudi Vision 2030. Through its subsidiaries (Sana, Rakeen, Manaf, Aljeyad, Almasiah, Rooa Real Estate), the company provides end-to-end Hajj and Umrah pilgrimage services including travel, logistics, accommodation, and food services for international pilgrims, alongside food security manufacturing and real estate development activities.

Product overview

MASHARIQ (شركة مشارق) is a unified investment management platform serving the Hajj and Umrah sector with over 40 years of experience. The company operates a portfolio of digital platforms including the Masar System for investment portfolio management, the Hajj Business System for operational services, the Ebana Platform, and the Electronic Services Platform for customer support. MASHARIQ also manages a diversified portfolio of subsidiaries including Sana (pilgrim services for international visitors), Rakeen (comprehensive Hajj services), Manaf (food security and manufacturing), Aljeyad (hospitality and logistics), Almasiah (Southeast Asian pilgrim services), and Rooa Real Estate (property development). The company is transitioning from a unified pilgrim services model toward a diversified investment portfolio aligned with Saudi Vision 2030.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Portfolio Management
• Hajj and Umrah Pilgrimage Services

Quantifiable outcome

• 40+ years of experience serving pilgrims

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Sana (سنا)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Subsidiary company providing services for international pilgrims seeking to achieve excellence through comprehensive services for pilgrims from around the world, with competitive services, practical experience, and human competencies.
• Rakeen (ركين)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Subsidiary providing exceptional experience for pilgrims from arrival embrace to departure wave, according to the highest international standards, complementing efforts of official entities to achieve Vision 2030 Hajj sector targets.
• Manaf (مناف)coreStrategic or Co-development Partner · 1 January 2023Subsidiary established to align with Vision 2030's goal of hosting millions of pilgrims, meeting their growing food needs. Manaf is a milestone in building unique experiences and making qualitative leaps in Saudi sustainable food security industry using modern methods and advanced technologies.
• Aljeyad (الجياد)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Hospitality company extending capabilities and expertise since establishment of pilgrimage organizations. Maintains cadres with experience exceeding 40 years in serving pilgrims and providing logistical services.
• Almasiah (الماسية)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Subsidiary representing 45 years of experience from Mutawwif for Southeast Asian Pilgrims company and its exceptional transformation to MASHARIQ, embodying professional cumulative experience in serving pilgrims.
• Rooa Valley Real Estate (رؤى الوادي العقارية)minorStrategic or Co-development Partner · 1 January 2023Subsidiary operating in real estate development and investment sector. Memoranda of understanding signed to enhance projects under Vision 2030 framework.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Riyad Capital: Riyad Capital is a leading Saudi investment management and brokerage firm offering portfolio management, advisory, and asset management services. It is a broad incumbent peer because both firms serve Saudi institutional and high-net-worth investors seeking Shariah-compliant investment portfolio management.
• Al Rajhi Capital: Al Rajhi Capital is the investment management arm of Al Rajhi Banking & Investment Corporation, one of the largest Islamic financial institutions globally. It is a broad incumbent peer because MASHARIQ is pivoting into Shariah-compliant investment portfolio management, directly competing with Al Rajhi Capital's established investment advisory and asset management services.
• Saudi National Bank (SNB): Saudi National Bank is the largest Saudi banking group, formed by the merger of NCB and Samba, with significant wealth management and Islamic banking operations. It is a broad incumbent peer because MASHARIQ's investment management ambitions compete with SNB's well-established private banking, wealth advisory, and capital markets divisions in Saudi Arabia.

Direct peers

• Jabal Omar Development Company: Jabal Omar Development is a major Saudi real estate developer focused on building hotels and residential projects adjacent to the Grand Mosque in Makkah. It is a direct peer because both companies operate in the pilgrim accommodation, hospitality, and Makkah real estate ecosystem serving Hajj and Umrah visitors.
• Makkah Construction and Development Company (CDC): CDC develops and operates real estate projects in Makkah, particularly hotels and commercial properties serving pilgrims. It is a direct peer because both companies operate in the Makkah pilgrim real estate and hospitality ecosystem, with overlapping accommodation and service offerings for Hajj/Umrah visitors.
• Seera Group: Seera Group (formerly Al Tayyar Travel Group) is a leading Saudi travel and tourism company operating across pilgrimage travel, hotel management, and aviation services. It is a direct peer because both companies serve the Saudi Hajj and Umrah travel market with comprehensive pilgrim-facing offerings.

Regional players

• Dar Al Arkan Real Estate Development: Dar Al Arkan is one of the largest publicly listed real estate developers in Saudi Arabia, with diversified residential, commercial, and mixed-use projects. It is a regional peer because Rooa Valley Real Estate (MASHARIQ's subsidiary) competes for Vision 2030-aligned real estate development opportunities, particularly in the Makkah region.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mashariqsa

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MASHARIQ