SAFA

What SAFA does

SAFA (صفا للاستثمار, Safa Investment) is a privately held Saudi Arabian real estate developer founded in 2019 and headquartered in Riyadh. The company develops integrated residential communities across Saudi Arabia, with a current portfolio spanning 5 cities, 35 neighborhoods, 950 buildings and 12,000+ residential units on more than 2 million sqm of developed land. Project inventory represents approximately SAR 10.2 billion of total investment value and includes apartments, duplexes, townhouses and villas in Riyadh, Jeddah, Medina and Al-Qassim, with flagship projects such as Safa Al Fursan (614 units, Riyadh), Safa Al-Maqim (535 units, near the Prophet's Mosque in Medina) and Safa Al-Wariq (2,641 units, Jeddah). Unit pricing ranges from approximately SAR 342,000 to SAR 2.5 million+, with milestone-based installment plans and mortgage financing facilitated through partnerships with Al Rajhi Bank, Saudi National Bank, Bank AlJazira, Saudi French Bank and Riyadh Bank, plus the government Sakani platform.

SAFA's product offering centers on smart, sustainable residential communities that incorporate intelligent access control, CCTV, EV charging infrastructure, WPC/UPVC doors and comprehensive insulation, plus amenities such as green spaces, sports facilities, retail areas and mosques. Revenue is generated through a mix of one-time unit sales (off-plan and ready), recurring rental income on owned and third-party-managed units, and fee-bearing fund management. Co-launched funds include the Safa Najd Fund (SAR 1.4B, successfully exited in 2024 at ~40% return), the Flo Mina Al-Maskani Fund (SAR 1.1B) and a SAR 4.4B mixed-use fund with Refad Investment and AlBilad Capital. The company holds ISO 9001/14001/45001 certifications, an AA- credit rating (upgraded from BBB+ in 2025) from Simah, and was recognized as the Fastest Growing Real Estate Developer in Saudi Arabia by International Finance Magazine in 2023 and among the Top 50 developers in the Gulf region. SAFA sells primarily through a centralized Riyadh Unified Sales Center, project showrooms, a registered broker network, the Sakani platform, and event-driven channels (Cityscape Global, Restatex). The board is chaired by Mohammed bin Abdulaziz Al-Majid, with Moaath bin Ahmad Al-Zaid as CEO.

Name

SAFA

Legal name

صفا للاستثمار (Safa Investment)

Website

https://safainv.sa

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

SAFA (صفا للاستثمار) is a Saudi Arabian real estate developer founded in 2019, headquartered in Riyadh, that builds integrated residential communities across 5 cities and operates SAR 10.2 billion of project inventory spanning 12,000+ units, supplemented by co-managed real estate investment funds.

Ownership category

akta.pro rank

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Property Sales: SAFA generates primary revenue from the sale of residential units including apartments, duplexes, townhouses, and villas across its development projects in Saudi Arabia. Units are sold at various price points ranging from approximately SAR 342,000 to over SAR 2.5 million depending on project, size, and completion status. The company offers installment payment plans (off-plan and ready) to facilitate sales.
2. Off-Plan Sales (Selling on Map): SAFA markets and sells units prior to construction completion, aligning with Saudi regulatory frameworks for off-plan property sales. This model supports cash flow during development phases.
3. Property Rental: SAFA maintains a portfolio of rental units available for lease, providing recurring rental income. The company also manages property rentals for third-party unit owners through its service platform.
4. Real Estate Investment Funds: SAFA co-launches and manages real estate investment funds in partnership with financial institutions. The company exited its Safa Najd Fund with total sales exceeding SAR 1.4 billion, achieving ~40% returns on capital. A new SAR 4.4 billion fund was launched in partnership with Refad Investment and AlBilad Capital.
5. Property Management Services: SAFA provides ongoing property management services including maintenance, cleaning, furnishing (for investment properties), and 24/7 customer service. The company offers guarantees of up to 25 years on certain products.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

SAFA develops, sells, and manages master-planned residential communities across Saudi Arabia's major cities. Its portfolio spans ten named projects in Riyadh, Jeddah, Medina, and Qassim, totaling 950 buildings and more than 12,000 housing units. The company also operates Safa Rental, a third-party property management arm, and manages real estate investment funds including the Flo Mina Fund, the Safa Najd Fund, and a SAR 4.4 billion Strategic Fund.

Product overview

SAFA (صفا للاستثمار) is a Saudi Arabian real estate investment and development company offering residential communities across multiple cities in Saudi Arabia. The company operates a portfolio of residential projects including apartments, duplexes, and townhouses in Riyadh, Jeddah, Medina, and Qassim. Beyond property development, SAFA manages real estate investment funds including the Flow Mina Residential Fund (1.1 billion SAR), Safa Najd Fund (1.4 billion SAR), and a 4.4 billion SAR joint fund with Rishaf Investment and Al Bilad Financial. The company also offers property maintenance services, rental management, and operates a unified sales and customer service center. SAFA positions itself around smart, sustainable communities aligned with Saudi Vision 2030.

Differentiator

Problem solved

Functional benefit

Products and services

• Safa Al Fursan (صفا الفرسان)

Quantifiable outcome

• Successful exit from Safa Najd Fund with SAR 1.4 billion in total sales (~40% return on capital) within 2 years and 8 months
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

16 partnerships are on record, tiered core, flagship, strategic and supporting.

• Al Rajhi Bank (الراجحي)coreStrategic or Co-development PartnerStrategic partnership announced at Cityscape Global for financing solutions to support customer homeownership. The partnership expands financing options for SAFA's residential units with flexible programs meeting diverse customer needs.
• Saudi National Bank (البنك الأهلي السعودي)coreStrategic or Co-development PartnerStrategic partnership at Cityscape Global providing innovative financing solutions to support customer aspirations in property ownership and real estate investment, aligned with Vision 2030 targets.
• Bank AlJazira (بنك الجزيرة)coreStrategic or Co-development PartnerStrategic partnership to support homeownership and real estate investment, providing innovative financial services and products to SAFA's customers.
• Saudi French Bank (البنك السعودي الفرنسي)coreStrategic or Co-development PartnerPartnership to support SAFA's projects and expand financing options for customers, facilitating easier residential ownership through flexible mortgage programs.
• Riyadh Bank (بنك الرياض)coreStrategic or Co-development PartnerStrategic partnership at Cityscape Global to enable access to advanced financing services, expanding SAFA's ability to meet diverse customer needs and implement varied projects.
• National Housing Company (الشركة الوطنية للإسكان)flagshipStrategic or Co-development PartnerPurchase and development agreement for Safa Al Fursan project in Al Fursan district, Riyadh. Also signed sustainability evaluation agreement to enhance sustainability of SAFA's residential communities through global best practices.
• STC (الاتصالات السعودية)strategicTechnology or IntegrationNew partnership to support residential development and enhance technical infrastructure. Leverages STC's technology expertise to develop solutions supporting the growing housing market.
• Mohammad Al-Habib Holding Group (محمد الحبيب القابضة)flagshipStrategic or Co-development PartnerStrategic partnership launching the Waha Safa residential project in Hittin district, Riyadh. The project comprises 28 buildings with 406 residential units and 6 commercial showrooms on 31,627 sqm, with over 5,576 sqm of gardens and landscapes.
• Jeddah Economic City (مدينة الملك عبدالله الاقتصادية)strategicStrategic or Co-development PartnerCooperation agreement signed at Cityscape Global to explore development opportunities for residential and entertainment projects within Jeddah Economic City.
• Al-Maqim for Real Estate Development (المكيمن)strategicStrategic or Co-development PartnerDevelopment partnership for Safa Al-Maqim project, a premium residential community near the Prophet's Mosque in Medina, combining heritage aesthetics with modern design.
• AF Group Saudi Arabia (مجموعة AF السعودية)supportingImplementation/ SI/ Consulting PartnerWork agreement to develop external spaces in SAFA's residential projects. Focuses on improving outdoor design quality through practical solutions combining sustainability and visual appeal.
• Al-Fanar (الفنار)supportingImplementation/ SI/ Consulting PartnerPartnership for supplying comprehensive electrical products to support the quality of SAFA's residential projects and meet highest standards in real estate development.
• Mu'assil bin Ajlan Trading (مساعد بن عجلان للتجارة)supportingImplementation/ SI/ Consulting PartnerPartnership for supplying electrical products to support SAFA's residential projects and meet highest standards in the real estate development sector.
• Jotun Saudi Arabia (جوتن السعودية)supportingImplementation/ SI/ Consulting PartnerStrategic partnership at Cityscape Global to provide innovative and high-quality paint solutions aligned with global standards and customer expectations for SAFA's residential units.
• Adk for Development Consultancy (آدك للاستشارات الإنمائية)supportingImplementation/ SI/ Consulting PartnerWork agreement leveraging 30+ years of real estate consulting and urban development expertise. Covers market studies, qualitative data analysis, and improving quality of consulting studies for SAFA's current and future projects.
• Al-Majmouah University (جامعة المجمعة)strategicStrategic or Co-development PartnerPartnership to launch the first specialized diploma in real estate development in the Kingdom, under the patronage of the Deputy Minister of Municipalities and Housing. Aims to qualify national cadres with skills needed for the growing job market.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Emaar Properties: Dubai-listed regional real estate developer of integrated residential and mixed-use communities. Comparable to SAFA at the product/category level (smart, amenitized residential communities) though operating on a much larger GCC scale.
• Sedco Development: Part of the SEDCO Group with mixed real estate and property management activities in Saudi Arabia. Comparable to SAFA on Saudi residential development and third-party property management services, though broader in scope.
• Emaar, The Economic City (KAEC): Developer of King Abdullah Economic City, a large planned city with significant residential components. Comparable to SAFA in master-planned residential development, off-plan financing, and large land-bank scale, though much larger in scope.

Regional players

• Knowledge Economic City (KEC): Public joint-stock developer behind the Knowledge Economic City project in Medina. Comparable to SAFA's Medina strategy (Safa Al-Muqaymin) in developing residential and mixed-use product for the Medina market.

Direct peers

• Dar Al Arkan Real Estate Development: Saudi Arabia's largest publicly listed residential developer, offering apartments, villas and townhouses across Riyadh and other cities on installment/off-plan terms. Closely comparable to SAFA in product mix, installment payment plans, and bank-financing distribution strategy.
• Retal Urban Development: Saudi-listed residential and mixed-use developer active in Riyadh and other cities. Direct peer in mid-market apartment and townhouse product, off-plan sales model, and bank-financing partnerships.
• Saudi Real Estate Company (Al Akaria): Listed Saudi developer of residential and commercial real estate, including large master-planned communities around Riyadh. Comparable in its focus on developing multi-unit residential projects for sale to Saudi nationals with structured financing.
• Roshn: A PIF-backed Saudi residential developer building integrated master-planned communities. Direct competitor to SAFA in the Riyadh/Jeddah mass-market to mid-market ownership segment, with similar off-plan sales, bank-financing distribution, and Sakani channel access.
• Jabal Omar Development: Developer of large integrated residential and hospitality districts around the holy sites in Makkah. Comparable to SAFA's Medina-focused Safa Al-Muqaymin community in serving religious-proximity residential demand and partnering with capital providers.

Others

• Kingdom Holding Company: Diversified Saudi conglomerate with material real estate holdings and partnerships in Riyadh districts. Adjacent rather than directly comparable, but relevant as a Saudi institutional capital allocator alongside SAFA's NHC/Refad/AlBilad partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/safainv
• LinkedInlinkedin.com/company/safainv

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 SAFA