Derayah Financial delays real estate fund launches amid market uncertainty

Derayah Financial has postponed the launch dates of some of its investment funds, particularly in real estate development, due to uncertainty in local and global markets, according to the company’s CEO Mohammed Al-Shammasi. He explained that the company is also focusing on enhancing its marketing activities, improving the customer experience, and strengthening direct communication with clients to better understand their needs.

Speaking to Al Ekhbariya TV, Al-Shammasi said Derayah Financial is working to develop its marketing strategies and improve the client experience, in addition to boosting direct engagement to gain deeper insight into client requirements. 

He also noted that attracting foreign investors is still in its early stages and requires greater marketing momentum. 

Net income from special commissions recorded significant growth, becoming one of the fastest-growing items on the company’s income statement. Recurring revenues now account for about 45% of total income, having grown by approximately 25% in the third quarter. 

Derayah Financial’s profits rose by 5.7% to 105 million riyals (SAR), supported by investment valuations and special commissions. The company attracted 34,000 new clients in the third quarter, marking its highest growth rate in two years, driven by the relaunch of its digital platform. The introduction of commission-free trading and free service packages also boosted its appeal and liquidity flows.

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Regarding D360 Bank, Al-Shammasi said the integration of back-end systems between the two entities has been completed, while work continues on the front-end interfaces.

The bank now serves more than 3.4 million clients, with deposits exceeding 4 billion riyals and a lending portfolio of 700 million riyals. Al-Shammasi noted that the bank has entered the revenue generation phase and is expected to reach financial break-even in the fourth quarter of next year.