Ghanem Platform Terms and Conditions

Ghanem Platform Terms and Conditions

Updated on: April 29, 2025

1. Introduction

The Ghanem Real Estate Platform (hereinafter referred to as the "Platform") is an electronic platform owned and operated by Ghanem Al-Oula for Information Technology (hereinafter referred to as the "Company"), a Saudi closed joint stock company established under the laws of the Kingdom of Saudi Arabia with Commercial Registration No. 7049166916, dated 26/02/2025.

These terms and conditions aim to clarify the contractual relationship between the Company and the user (hereinafter referred to as the "User") when using the Platform’s services. Please read these terms and conditions carefully before using or registering on the Platform, as your use constitutes acknowledgment and agreement to abide by these terms.

If you do not agree with any of these terms, please refrain from using the Platform.

2. Definitions

The following terms and expressions shall have the meanings assigned to them wherever mentioned in this document, unless the context requires otherwise:

Term	Definition
Company	Ghanem Al-Oula for Information Technology, a closed joint stock company registered in the Kingdom of Saudi Arabia under Commercial Registration No. 1009203129, and the owner and operator of the Ghanem Platform.
Platform	The Ghanem Real Estate Platform, a digital platform (website and mobile app) offering various real estate opportunities including partial ownership and usufruct rights.
User	Any natural or legal person who registers on the Platform and uses its services.
Real Estate Opportunity	Property or a group of properties offered for sale or lease through the Platform.
Partial Ownership	Holding a share in a specific property or in a company owning property, based on a percentage of its total value.
Usufruct Right	The right to use and benefit from a property without owning it or leasing it.
Wallet	The user's account reflecting all their real estate purchases through the Platform.
Account	The user’s electronic account on the Platform.
Returns	Income generated from a real estate product, distributed to participating users or owners.
Exit	Liquidation of the real estate opportunity and distribution of proceeds among the owners based on their ownership percentages.
Regulatory Authorities	Governmental entities regulating the real estate and financial sectors in Saudi Arabia.
Kingdom	The Kingdom of Saudi Arabia.

3. Services Provided

The Platform provides a set of real estate brokerage services, including:

1. Display of real estate opportunities: Allowing users to view evaluated and studied opportunities.

2. Provision of innovative solutions: Offering diverse and tailored real estate purchasing options.

3. Real estate portfolio management: Tools to manage and track the user’s property operations.

4. Distribution of returns: Managing and distributing periodic returns to users according to their ownership shares.

5. Exit or transfer management: Handling property exit processes per product-specific mechanisms.

6. Support services: Including periodic reports and real estate consultancy.

7. Usage Terms and Eligibility

8. Usage Terms

   1. The user agrees to use the Platform only for lawful purposes, in line with these terms and applicable laws.
   2. The user shall not use the Platform in a way that may disrupt or harm its performance.
   3. Illegal, fraudulent, or harmful use is strictly prohibited.
   4. Impersonation or misrepresentation is prohibited.
   5. Collecting/storing personal data of other users for unlawful use is prohibited.
   6. Violation of the above may result in denial of claims or complaints, and the user bears liability for any damages.

9. Eligibility

To use the Platform services, the following conditions must be met:

For natural persons:

• Must be 18 years or older.
• Must have full legal capacity.
• Must be eligible for property ownership or leasing as per Saudi laws and each opportunity’s terms (some are limited to Saudis or special residency holders).

For legal entities:

• Must be legally registered in Saudi Arabia or permitted to own or lease property.
• Must be represented by a legally authorized person.

5. Registration and Account Creation

6. Registration Process

   1. The user must create an account by submitting accurate and correct information.
   2. Required info includes (but is not limited to): full name, national/Iqama ID, address, email, phone number.
   3. The Company may request additional documents for KYC and AML compliance.

7. User Responsibilities

   1. Users are responsible for keeping login credentials confidential.
   2. Users must report unauthorized use or security breaches immediately.
   3. Users are fully responsible for all activities under their account.
   4. Users must promptly update their personal information when changed.

8. Company’s Right to Suspend or Terminate Accounts

The Company reserves the right to suspend or terminate a user’s account in the following cases:

1. Submitting false or misleading information.

2. Violating any provision of these terms.

3. Unlawful or fraudulent use of the Platform.

4. Based on request from judicial or regulatory authorities.

5. Inactivity for a long period (with prior notice).

6. Any other reason deemed necessary by the Company to protect the Platform or other users.

7. Real Estate Opportunities

8. Real Estate Opportunities

   1. The Platform offers various types and categories of opportunities.
   2. The Company evaluates each opportunity through relevant due diligence, including legal, financial, and technical studies.
   3. Each opportunity includes detailed info: nature, characteristics, expected returns, and risks.
   4. The Company does not guarantee any returns or profits from opportunities.

9. Subscribing to Opportunities

   1. Users can subscribe based on the structure of each opportunity.
   2. Minimum investment typically starts from SAR 1,000 but may vary.
   3. All subscriptions are final, non-refundable, and legally binding.
   4. Legal relationships are governed by the specific structure and Saudi laws.
   5. Rights and obligations are set out in each opportunity’s official document.

10. Opportunity Document

    1. The Company prepares a dedicated document for each opportunity.
    2. The document includes all details: participation process, rights, obligations, risks.
    3. Users must read the document carefully before subscribing.

11. Returns and Exit

12. Returns Distribution

    1. Returns are distributed as per the mechanism in each opportunity document.
    2. Dates and percentages are specified in the document.
    3. Returns are transferred to the user’s registered bank account.
    4. Returns are subject to applicable taxes and fees, including banking and e-payment service charges.

13. Exit from Opportunities

    1. Commitment period and exit process are specified in the opportunity document.
    2. Exit mechanisms vary by opportunity and may include sale, liquidation, etc.
    3. Exit proceeds are distributed after deducting related fees and expenses.
    4. The Company may extend the duration of an opportunity as per the document.
    5. Early exit is subject to the terms outlined in the opportunity document.

14. Fees and Payments

15. Types of Fees

Fees may include:

• Subscription fee: One-time payment when subscribing.
• Management fee: Annual property management fee.
• Performance fee: A percentage of returns exceeding the target.
• Exit fee: Charged for managing the exit process.
• Transaction fees: For bank transfers, e-payments, early withdrawals.

2. Fee Details

   1. Fee amounts and percentages are disclosed in each opportunity’s document.
   2. The Company may modify fees with 30-day prior notice.
   3. Users can access the updated fee schedule on the Platform.
   4. Operational fees apply if funds are deposited/withdrawn without participating.

3. Payment Methods

   1. Payments can be made via credit card or bank transfer.
   2. All payments must be in SAR unless otherwise stated.
   3. Failed payments may result in order cancellation.

4. Risks and Disclosures

5. General Risks

The user acknowledges awareness of real estate-related risks, including:

• Market price fluctuations.
• Liquidity risks and difficulty in asset liquidation.
• Operational risks in property management.
• Economic, political, and regulatory risks.
• Financial leverage and debt risks.
• Legal and tax-related risks.

2. Disclaimer

   1. The Company does not guarantee profits or returns.
   2. Past performance is not indicative of future performance.
   3. The Company is not liable for losses unless due to gross negligence or willful misconduct.
   4. Users are responsible for assessing their own financial capacity.

3. Disclosures

   1. The Company discloses all material information related to opportunities.
   2. Any conflicts of interest are disclosed.
   3. Users must read the opportunity document before subscribing.

4. Personal Data Protection

5. Data Collection and Processing

   1. The Company collects and processes personal data in accordance with its Privacy Policy and the Saudi Personal Data Protection Law.
   2. Users consent to data collection for the purposes outlined in the Privacy Policy.
   3. Full Privacy Policy is available on the Platform.

6. Data Disclosure

   1. The Company does not disclose personal data unless permitted under the Privacy Policy.
   2. Regulatory authorities may request data.
   3. Some data may be shared with service providers under strict protections.

7. User Rights

Users have the right to:

• Access and request copies of their data.
• Request corrections to inaccurate or incomplete data.
• Request data deletion under specific conditions.
• Object to direct marketing use of their data.
• Withdraw consent at any time, without affecting prior lawful processing.

11. Intellectual Property

12. All intellectual property rights related to the Platform—including copyrights, trademarks, logos, designs, text, images, terms, product structures—are owned or licensed by the Company.

13. Users may not copy, modify, distribute, or republish any content without prior written permission.

14. Users are granted a limited, non-exclusive, non-transferable license to use the Platform for personal, non-commercial purposes.

15. Users grant the Company an irrevocable, non-exclusive license to use content they submit.

16. The Platform may use customer reviews and testimonials in marketing materials while anonymizing personal data.

17. Liability and Indemnification

18. Limitation of Liability

    1. The Company is not liable for indirect, incidental, or consequential damages from use or inability to use the Platform.
    2. Maximum liability is limited to fees paid by the user in the 12 months prior to the claim.
    3. Ghanem is licensed by the General Real Estate Authority with a Val license for brokerage and marketing, connecting users to usufruct/property sellers. Ghanem is not an investment company.
    4. The Company is not liable for losses due to:
    • Platform service interruptions (maintenance, updates, force majeure).
    • Internet or communication failures.
    • User investment decisions based on Platform information.

19. Indemnity

Users agree to indemnify the Company against claims, losses, or damages (including legal fees) arising from:

• Violation of these terms.
• Unauthorized use of the Platform.
• Violation of third-party rights.

13. Amendments to Terms

14. The Company may amend these terms at any time.

15. Users will be notified of material changes at least 30 days before they take effect via email or Platform notice.

16. Continued use after changes implies acceptance.

17. If a user disagrees, they must stop using the Platform and close their account.

18. Governing Law and Dispute Resolution

19. These terms are governed by the laws of the Kingdom of Saudi Arabia.

20. Parties must attempt amicable resolution in case of disputes.

21. If unresolved within 30 days, disputes are referred to competent courts in Saudi Arabia.

22. General Provisions

23. These terms constitute the full agreement between the Company and the User.

24. If any provision is deemed invalid or unenforceable, the remainder remains in effect.

25. Users may not assign rights or obligations without prior written consent.

26. The Company’s failure to enforce any right does not waive it.

27. Rights that survive termination (e.g., IP, confidentiality, liability) remain in effect.

28. Contact Us

For inquiries or complaints regarding the Platform or these terms:

• Address: Riyadh, Al-Yasmin District, King Abdulaziz Road 13326
• Email: support@ghanem.sa
• Phone: 920031882
• Website: www.ghanem.sa

By using the Platform, you acknowledge that you have read, understood, and agreed to these terms and conditions.