Definitions
In these Terms, the following terms have the meanings set out below unless the context requires otherwise:
- "Platform": the Shurfat real-estate development platform including the website, mobile app, and all services delivered through them.
- "Company": Shurfat Real Estate Development Co., registered under CR no. 1010XXXXXX.
- "User": any natural or legal person who creates an account or uses the Platform.
- "Services": all investment and informational services delivered via the Platform.
- "Investment": contribution in a property offered on the Platform under the approved Sharia model.
- "Return": profits from leasing or sale of the property, net of costs and fees.
Acceptance
By using the Platform or creating an account, you confirm that you have read, understood and agreed to be fully bound by these Terms.
To complete registration the user must be at least 18 years old and have full legal capacity to contract.
Registration & account
The user must provide true, accurate and complete information at registration, and keep it up to date.
Verification requirements
- Valid national ID (for Saudi citizens).
- Valid residency ID (for residents).
- Verification via Saudi Nafath.
- A Saudi bank account in the user’s own name.
Only one account per user is allowed. Multiple accounts may all be suspended.
Services offered
Shurfat offers crowd-funded real-estate investment in hospitality properties, under a Sharia-compliant model.
- Curated investment opportunities in selected properties.
- Property management on behalf of investors via specialised operators.
- Monthly and annual distributions in proportion to each investor’s share.
- A secondary market for trading shares between investors.
- Periodic reports on property performance and investor portfolios.
Investment & returns
Minimum investment
The minimum individual investment in any single property is SAR 10,000. The maximum varies by the opportunity size.
Distribution
- Monthly rental returns deposited on the 5th of each calendar month.
- Sale return at the end of the investment term at market value.
- The investor may reinvest or withdraw at any time.
Obligations
The user undertakes the following:
- Not to use the Platform for any unlawful or non-compliant purposes.
- Keep login credentials confidential and not share them with any third party.
- Report any unauthorised account use immediately.
- Not attempt to breach or disrupt the Platform or its systems.
- Provide required documents and information on time.
Fees
Shurfat applies the following fees with full transparency:
Risks & disclaimer
Types of risk
- Market risk: fluctuations in property value and rents.
- Liquidity risk: you may not be able to sell your share immediately.
- Operational risk: lower occupancy or higher costs.
- Regulatory risk: changes in laws or regulations.
Shurfat provides clear information and appropriate warnings, but the investment decision is solely the user’s responsibility.
Intellectual property
All content on the Platform — logos, text, images, designs and code — is owned by or licensed to Shurfat and protected by copyright and trademark law.
You may not copy or use any of this content for commercial purposes without the Company’s prior written consent.
Privacy & data
Shurfat protects your personal data under our privacy policy published on the Platform.
Changes to the Terms
The Company may amend these Terms at any time. Users will be notified of changes by email and in-platform notice.
Continued use of the Platform after amendment constitutes acceptance of the revised Terms.
Governing law
These Terms are governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia.
Both parties comply with the Capital Market Law and its by-laws, the Anti-Money Laundering Law and the Personal Data Protection Law.
Dispute resolution
Any dispute is to be resolved amicably first by contacting the Company’s legal team.
Where amicable resolution fails, the CMA Financial Committees have jurisdiction, with appeal to the Appellate Committee as needed.
Contact
For any legal inquiry, contact us via:
- Email: [email protected]
- Phone: +966 92 000 0000
- Address: Riyadh, Al Olaya, King Fahd Rd, P.O. Box 12345, Riyadh 11564
