Shatib has emerged as one of the most promising Saudi startups in construction and real estate technology (ConTech & PropTech). The company is focused on digitizing and managing the purchasing process for building and finishing materials for real estate developers and contractors. This effort aims to significantly boost supply chain efficiency and reduce costs within Saudi Arabia's construction sector. Shatib recently announced the successful closure of a Pre-Seed funding round, securing 2.8 million Saudi Riyals (approximately $750,000 USD) from a strategic angel investor. This investment is earmarked to fuel the company's expansion plans, strengthen its partnerships with manufacturers and suppliers, and further develop its technology solutions tailored for the Kingdom's building materials industry.
Founding and Vision
Shatib was founded in Riyadh in 2024 by Abdulaziz Al-Masaud. He leads the company with a clear vision: to tackle the traditional challenges faced in construction procurement. Shatib achieves this through an integrated digital platform that connects real estate developers and contractors with factories and suppliers in a much more efficient and transparent way.The Group Purchasing Model
Shatib operates on a "Group Purchasing" model. This means it aggregates orders from several projects and contractors simultaneously, giving its customers greater negotiation power with manufacturers and distributors. This approach helps clients secure more competitive prices compared to traditional purchasing methods. According to the company, their platform enables savings of 20% to 35% on procurement costs. Beyond savings, it also enhances transparency, speeds up the purchasing cycle, and simplifies supply procedures.An Integrated Digital Platform
Shatib's services go beyond just grouping orders. The platform offers a comprehensive suite of digital tools, including managing Requests for Quotation (RFQ), comparing offers from various suppliers, and tracking supply and execution processes. Additionally, it provides deferred payment and financing solutions specifically designed for contractors and developers. Currently, the platform boasts over 1,000 manufacturers and suppliers. It also facilitates financing and deferred payment solutions valued up to 4 million Saudi Riyals, helping companies in the construction sector manage their cash flow and execute projects more efficiently.Capitalizing on Saudi Arabia's Construction Boom
Shatib aims to capitalize on the rapid growth in Saudi Arabia's construction and real estate development sector. This boom is largely driven by the massive projects associated with Saudi Vision 2030, which have significantly increased demand for building materials, logistics services, and specialized digital solutions. In this dynamic environment, Shatib is working to build an integrated ecosystem that connects real estate technology, procurement management, supply chains, and financing. This holistic approach is set to accelerate the digital transformation of the construction sector and improve spending efficiency across real estate and construction projects. Shatib represents a fresh model for startups looking to digitize one of the region's largest economic sectors. By combining real estate technology, procurement management, and trade finance into a single platform, it stands out as a company worth watching in the Saudi venture capital landscape, especially as real estate and infrastructure projects continue their expansion in the coming years.Related editorial
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