- Ejari emerged from a collective determination to provide a solution to a long-standing challenge that hindered not only our endeavours but those of countless others in similar circumstances.
- The journey to finding the right business model and revenue approach was challenging but guided by the central question: Is this solution a fit for the market?
- Building an A-grade team comprising individuals who are deeply passionate about their work and hold themselves to high standards has been particularly fulfilling.
- Our goal is to provide a seamless experience tailored to the specific needs and challenges of the Saudi market.
- While many may romanticize the startup journey, the reality is far more demanding. It demands unwavering focus and determination throughout.
Yazeed Al Shamsi, the ambitious CEO of Ejari, embarked on a journey with his dedicated co-founders and childhood friends Fahad Albedah, Khalid Almunif and Mohammed Alkhelewey to make real estate more accessible and ease the financial burden for renters. They conducted extensive market research and iteratively developed the business model. Yazeed’s dissatisfaction with the rigid rental system, particularly the requirement of upfront 12-month rent payments, sparked the founding of Ejari. His experiences as a student abroad and later as an entrepreneur in Saudi Arabia laid the groundwork for Ejari’s mission: to democratize access to real estate.
In an insightful interview with Anam Iqtidar, Yazeed discussed the beginnings, challenges, and aspirations of Ejari. He outlined Ejari’s journey from conception to execution, underscoring the meticulous process of refining the business model and the persistent pursuit of product market fit. Yazeed also shared the hurdles encountered, such as managing various commitments and efficiently allocating resources. He highlighted the crucial role of partnerships and collaborations in Ejari’s growth, emphasizing the significance of community and support networks in the entrepreneurial path.
As Ejari continues to disrupt the real estate landscape in Saudi Arabia, Yazeed’s unwavering dedication to addressing the needs of renters and landlords stands as a testament to his resilience and vision. With a mission-driven approach and a commitment to customer-centric innovation, Ejari is poised to shape the future of real estate technology in the region.
Q&A
The Inspiration Behind Ejari: Yazeed Al-Shamsi: From Personal Challenges to Innovative Solutions

1. What personal experiences or observations initially inspired you to create Ejari?
Well, it stems from a personal problem. During my time as a student in the UK, I encountered a recurring challenge with renting accommodations where private student accommodations typically required tenants to pay 12 months of rent upfront. This predicament persisted throughout my college years, presenting hurdles in both my first and second years.
By my third year, my peers and I managed to devise a specific workaround tailored to the UK’s rental system, a rental guarentoor. However, this challenge persisted through multiple instances, spanning my time in the UK, Japan, and back in Saudi Arabia.
Upon returning to Saudi Arabia, I encountered the same requirement of paying a year’s rent upfront when seeking accommodation, whether it was for personal living space or for a shared space with friends. This pattern repeated itself even when attempting to secure an office space for a startup I was involved in with our Chief Technology Officer (CTO).
Faced with this persistent problem and the lack of viable solutions available, we decided to take matters into our own hands. We realized that this challenge was not unique to our experiences alone, but rather a widespread issue affecting many individuals. Thus, Ejari emerged from a collective determination to provide a solution to a long-standing challenge that hindered not only our endeavours but those of countless others in similar circumstances.
Building the Foundation of Ejari: The Journey from Concept to Market
2. Can you share with us the journey of founding Ejari and how you came up with the idea of democratizing access to real estate?
The idea for Ejari stemmed from a personal problem that recurred several times, prompting me to address it. Initially, I encountered the challenge of paying 12 months’ rent upfront for accommodation, which persisted upon returning to Saudi Arabia. The issue became more pressing when attempting to secure office space for a previous startup. Realizing the widespread nature of this problem, my friends and I decided to create a solution.
We embarked on a thorough exploration of the real estate sector in Saudi Arabia, spending about nine months studying the market and engaging with potential customers. Over this period, we pivoted our business model multiple times, driven by feedback from landlords, real estate agents, renters and regulators. Our team, consisting of four co-founders who have known each other for 20 years, conducted extensive field visits to gather insights directly from the market.
After numerous iterations, we launched Ejari in July of the previous year, establishing our first customer relationships and generating revenues. The journey to finding the right business model and revenue approach was challenging but guided by the central question: Is this solution a fit for the market? By continuously seeking feedback and iterating on our approach, we were able to develop a platform that addresses the pressing need for flexible rental options in Saudi Arabia.
3. Past few years you were involved in various global and local organizations like the World Economic Forum, The World Federation of Exchanges, and the Saudi Exchange as well as you were also focused on Ejari, So, during that time how were you able to prioritize your commitments and ensure effective time management along with balancing your responsibilities as CEO of Ejari?
During that period, I juggled multiple responsibilities with little balance. Balancing my previous startup, Ejari, and my job at the Saudi Exchange was challenging enough. However, my role at the Exchange entailed additional responsibilities, such as representing it at the World Federation of Exchanges, as well as serving on the CMAs Market Development Committee.
I also volunteered for the World Economic Forum as a Global Shaper, leaving me with little time for personal pursuits, family, or friends. The strain became overwhelming, leading to burnout and a realization that I needed to prioritize. Consequently, I phased out my involvement in my previous startup, focusing solely on Ejari and my commitments at the Exchange and the World Economic Forum.
As Ejari gained traction and secured initial funding, I made the decision to prioritize it entirely. I quit my other engagements to dedicate myself fully to building Ejari. Now, my sole focus is on Ejari, recognizing the immense dedication and concentration required to nurture a startup.
While many may romanticize the startup journey, the reality is far more demanding. It demands unwavering focus and determination, aspects I have come to appreciate through this journey of evolution and adaptation. Thus, I have streamlined my commitments to give Ejari the attention it needs to thrive.
4. What specific initiatives or projects are you currently working on within Ejari to improve access to the real estate market in Saudi Arabia?
Yes, currently we are focused on reaching more customers through various channels, aiming to make access to our platform easier. I often use the Tabby and Tamara example to illustrate our objective. Just as you expect to find Tabby and Tamara products in stores, we aim for Ejari to be a familiar presence in real estate agent offices. To achieve this, we’re actively exploring new channels and strengthening our internal team.
Additionally, we are in the process of securing another round of funding, which we hope to finalize soon. While I can’t disclose the exact amount at this time, we anticipate announcing it shortly. At this early stage, the founding team is deeply involved in all aspects, from legal and marketing to finance and investor relations.
Personally, I’m multitasking across various domains to keep the progress steady and ensure a continuous process. It’s a dynamic approach where we’re tackling multiple responsibilities simultaneously to maintain our forward trajectory.
5. How do you prioritize and allocate resources within Ejari to ensure sustained growth and impact, especially in light of your diverse range of experiences and commitments?
Currently, our approach involves assigning tasks based on individual strengths. We’ve learned the importance of prioritization, which means declining certain meetings, events, or prospects to focus on more critical tasks. Our main priorities are acquiring more customers, improving their experience, releasing the next product version, fundraising, and expanding our team.
While other tasks are important, we prioritize based on what needs immediate attention versus what can wait for another day. This strategy ensures we focus on what matters most for the present moment while still acknowledging the importance of other tasks for the future.
6. How many employees were there when Ejari was first established, and what is the current size of the team?

When we started, we were four co-founders. Today, we’ve grown to a team of 10, with our 11th and 12th employees joining us soon. By the end of the year, we anticipate reaching a team size closer to 20. Hiring has been a challenging process, but also immensely rewarding.
Building an A-grade team, comprising of individuals who are deeply passionate about their work and hold themselves to high standards, has been particularly fulfilling. It’s satisfying to see the dedication and quality of work our team brings to the table. Despite the difficulties associated with hiring, witnessing the growth and cohesion of our team makes it all worthwhile.
7. How do you see the intersection between technology and real estate evolving in the coming years, and what role does Ejari aim to play in this transformation?
Real estate stands as the second-largest contributor to Saudi GDP, accounting for approximately 12 to 13 per cent. In contrast, the banking and insurance sector, contributing just under 10 per cent, has witnessed significant activity in fintech and its funding over the past four to five years. Last year alone, Saudi Arabia saw close to a billion dollars of venture money funnelled into fintech, primarily between two companies, Tabby and Tamara. However, the real estate sector remains largely untapped in terms of digitization, despite its immense potential.
With around 25 to 30 property technology (prop-tech) startups in Saudi Arabia, there exists a plethora of opportunities yet to be explored. Given the sector’s significance in GDP, there’s a potential for this number to grow significantly, possibly reaching 100 to 300 startups in the coming years. This growth is attributed to both the market’s size and the abundance of untapped opportunities within it.
While fintech receives considerable attention from investors and venture capital funds, proptech remains relatively underrepresented. The government has initiated programs like the National Technology Development Program, which foster ecosystem development without sectoral focus. Additionally, the Real Estate General Authority is actively engaged in advancing the sector’s development.
Similar to fintech, regulatory sandboxes have facilitated innovation by providing a testing ground for startups without existing regulations. However, such initiatives are yet to be established in the real estate sector, presenting an opportunity for further growth and innovation. Similarly, while accelerators exist across various sectors in Saudi Arabia, there’s a notable absence of accelerators specifically tailored to the proptech sector. .
Overcoming Obstacles: Navigating Challenges in the Startup World
8. Were there any sort of challenges that you faced while launching and establishing Ejari? How did you overcome those challenges, and what support systems did you leverage as a co-founder?
Our support system is a crucial aspect of our journey. With four co-founders who have known each other for over 20 years, our bond offers a unique balance. When one of us feels down, the others lift them up, creating a strong foundation for our team and early employees. Moreover, having support from family and friends is invaluable. It’s easy to get absorbed in our work and overlook the world outside, making this support vital.
Facing challenges is like playing whack-a-mole. We address one issue, and three more emerge. Especially in the early stages, it’s a constant battle, with fires to put out continuously. Our journey involved experimenting with six or seven business models before finding the right one. Each failure was a learning experience, pushing us to adapt and try again, fueled by customer feedback.
Our personal connection to the problem we’re solving adds an extra layer of motivation. The challenge of paying upfront rent hits close to home, driving us to find a solution not just for ourselves but for others facing similar hurdles. This sense of ownership keeps us focused on our mission: democratizing access to real estate.
In essence, our journey is a testament to the power of perseverance and having a strong support system. With determination, adaptability, and a clear mission, we navigate the hurdles, knowing that each challenge brings us closer to our goal.
9. What differentiates Ejari from other rent-to-own or rent-now-pay-later services in the Saudi market? What is your unique value proposition?
Regarding rent-to-own arrangements, we’ve established partnerships with several rent-to-own companies. It’s a mutually beneficial relationship where we refer customers to each other. This collaboration helps us broaden our customer base and enhances accessibility for those seeking rent-to-own solutions.
In terms of rent-now-pay-later services, our focus lies in delivering exceptional customer experiences. We prioritize offering the best service at the most competitive prices. Our aim is to ensure customers feel satisfied after interacting with us. We believe that providing a seamless and pleasant experience is paramount.
Our key differentiator is our dedication to execution. We’re committed to tackling the rental issue uniquely and effectively. By offering innovative solutions, we aim to provide an unmatched customer experience. Our focus is on solving problems in a manner that surpasses conventional approaches, ensuring our customers receive the best service possible.
Ultimately, our goal is to stand out in the market by delivering exceptional value and service. We’re driven by our commitment to addressing rental challenges in a way that prioritizes customer satisfaction. By continually striving for excellence and innovation, we aim to set a new standard in the industry and redefine the rental experience for our customers.
10. How important is it for Ejari to align its business model with Islamic Sharia principles, and what steps have you taken to ensure compliance?
When we initially established our business model, we adopted a lease and lease-back structure, akin to a murabaha arrangement where a product is purchased and then sold at a higher price. While we were confident internally about our approach, we sought external validation.
To ensure Sharia compliance, we formed a Sharia Committee and enlisted the expertise of a Sheikh. His opinion regarding the Sharia compliance of our product was instrumental. Even though we operate in Saudi Arabia, we believe it’s crucial to meet the minimum standards of Sharia compliance.
This isn’t just for our customers’ benefit, but also for our internal operations. Sharia-compliant companies in the region tend to have better financial records, customer numbers, and profitability. Adhering to these principles allows us to tap into a broader customer base.
11. What role did collaboration and partnerships play in Ejari’s growth and success?
Very important. It’s crucial for us to engage not only with revenue-generating partners but also with those within our ecosystem. Learning from other startups is invaluable—studying their strategies, successes, and failures provides insights we can adapt to our own approach. We were incubated by the National Technology Program’s MVP Lab program and have actively participated in accelerator programs like the Sanabil 500 MENA Accelerator Program and the STC InspireU Accelerator Program, where the focus extends beyond mentorship and sessions. These programs immerse us in a community of startups, facilitating peer learning and diverse perspectives.
Currently, we have established over 14 to 15 partnership agreements with various ecosystem players, including proptech companies, developers, and property managers. Each partnership serves a unique purpose, tailored to enhancing the customer experience. Our goal is to meet customer needs efficiently, offering desired services at the right price and through preferred methods. These partnerships are integral to our commitment to delivering exceptional customer satisfaction.
12. Can you share any examples of partnerships or collaborations that have been instrumental in Ejari’s success?
Without naming any names, I think our early partnerships with brokers were incredibly beneficial. These initial collaborations not only validated our concept but also played a crucial role in attracting other brokers to join us. When we signed on our first broker, it marked the beginning of a mutually beneficial relationship. We provided them with customers, and they, in turn, directed customers our way.
This symbiotic arrangement helped us establish credibility within the industry and paved the way for further partnerships. Each new broker we onboarded contributed to our growth, creating a ripple effect that led to even larger partnerships. These early connections within the ecosystem laid a strong foundation for the significant partnerships we’re currently pursuing.
13. What has been the most rewarding aspect of building and leading Ejari? What have you learned about yourself and the business landscape through this journey?
One of the most fulfilling aspects of our work is knowing that we’re truly making a difference by solving a real problem for people. It’s incredibly rewarding to hear from customers who have been searching for a solution for years and finally find relief through our platform. The burden of having to pay a large sum upfront for rent can be daunting for many, and being able to offer an alternative where they can invest, travel, or make other purchases instead is immensely satisfying.
Reflecting on my personal growth, I’ve learned that resilience and persistence are crucial traits for navigating the challenges of entrepreneurship. Building a company from the ground up is far from easy, and it requires a relentless determination to overcome setbacks and keep pushing forward. Through countless iterations of our business model and multiple attempts at finding the right approach, I’ve come to appreciate the importance of staying resilient and consistent in pursuit of our goals. Each setback has been a valuable learning experience, reinforcing the need to adapt, experiment, and persevere in the face of adversity, with the most important element has been going through this experience with my co-founding team and growing together as a group.
Ejari’s Impact on the Market: Changing the Dynamics of Saudi Real Estate
14. What other opportunities or challenges do you see in the real estate market, specifically in Saudi Arabia, and how is Ejari positioned to address them, aside from the rent issue?
Currently, our primary focus is on rent, but our vision extends to offering a comprehensive customer experience in the future. What this means is that beyond helping customers pay their rent, we aim to assist them at every step of their housing journey.
This includes furnishing their apartment after moving in, addressing maintenance needs such as replacing light bulbs, and facilitating smooth transitions if they decide to relocate. Our goal is to provide a seamless experience tailored to the specific needs and challenges of the Saudi market. Given that many aspects of the real estate sector in Saudi Arabia are not yet digitized, there is ample opportunity to innovate and improve processes for customers, brokers, and landlords alike.
By focusing on this vertical expansion, we aim to offer a holistic solution that addresses various stages of the housing lifecycle. While there are global examples of similar services, we believe that localizing our offerings is crucial for meeting the unique requirements of the Saudi market.
15. How do you envision the convergence of the financial and real estate markets shaping the future landscape?
Previously, the finance and real estate sectors primarily focused on mortgages, leaving a gap for products that intersected between the two industries. While our platform operates within this intersection, we specifically target residential properties. However, there’s significant untapped potential in office, retail, and industrial spaces for rental opportunities.
Additionally, the concept of buy-to-own is relatively new in the region with low levels of penetration. To capitalize on this opportunity, we are collaborating with buy-to-own companies to expand our reach and create more value. Overall, there are numerous opportunities within this space for innovation and growth.
Advice for Aspiring Entrepreneurs: Yazeed Al-Shamsi’s Insights for Success
16. What advice would you give to aspiring entrepreneurs who are looking to enter the real estate technology industry?
For those aspiring to start a business, the key is to simply begin by putting a plan into action. Understand that no plan is ever perfect, it will inevitably change and evolve over time.
Expect challenges along the way, but don’t let them deter you from taking that first step. Many people feel overwhelmed by the prospect of starting something new, but starting with an initial plan and pushing forward is crucial. This initial momentum is essential for success.
Remember, the initial plan is just the beginning. As you gain traction and momentum, your endeavour will grow, much like a snowball rolling downhill. Engaging with your first customers and building relationships is vital. Having a clear mission can also be incredibly beneficial.
Reflecting on my previous startup, I realize that without a clear mission beyond profit, it was challenging to sustain long-term internal motivation. Therefore, being driven by a meaningful mission can provide direction and purpose throughout your entrepreneurial journey.
17. Can you provide insight into your previous startup experience, including whether you started it alone or with the same co-founders?
In the previous startup, we had different co-founders, but what was lacking was a clear mission. Our primary focus was solely on generating profits, which is valid, but we lacked a higher purpose. However, with Ejari, we’re driven by the mission of actually helping people keep a roof over their head.
Having a mission-centric approach is invaluable, especially during challenging times. It provides direction and a sense of purpose beyond monetary gains. So, my advice would be to prioritize having a clear mission, as it can guide and sustain your organization through tough times.