Key Takeaways
- • Wahed, an Islamic fintech platform backed by Saudi Aramco's Wa'ed Ventures and Qatar Development Bank, launched what it calls the first fully Shariah-compliant real estate fund open to non-accredited investors in the United States.
- • The fund holds a diversified portfolio of single-family rental properties with a $100 minimum investment, uses zero debt financing and is 100% equity-financed, and targets 5-7% annual net returns, a company projection rather than a guarantee.
- • Investors receive rental income based on their share of the portfolio and can access quarterly liquidity windows, with new properties added automatically as the fund grows.
- • Wahed handles acquisition, due diligence, tenant relationships and ongoing compliance; securities are offered through Dalmore Group LLC, and an offering statement has been filed with the SEC.
- • The launch extends Wahed's deal-by-deal fractional property product, where individual US properties reportedly filled from waitlists before wider release.
Summary
Wahed has launched the US Real Estate Fund, a single-family rental vehicle it describes as the first fully Shariah-compliant real estate fund available to non-accredited investors in the United States, according to a PR Newswire release. The fund accepts minimum investments of $100 and is structured with no debt, which Wahed says meets Islamic finance requirements and differentiates it from most professionally managed US real estate vehicles that rely on leverage and refinancing. The company targets 5-7% annual net returns. Those figures are targets stated by the company and are not guaranteed.
The release argues that US investors seeking Shariah-compliant real estate exposure have had limited options, particularly in single-family rentals. Most private real estate funds permit leverage and are limited to accredited investors, while retail access has typically involved high minimums, weak diversification and the burden of sourcing and managing properties directly. Wahed cites National Association of Realtors data showing a national median existing-home price of $405,400 in December 2025, up roughly 60% since 2019. It also references Zillow's estimate of a 4.7 million unit housing shortage in 2025 and Goldman Sachs Research's projection that 3-4 million additional homes beyond normal construction are needed.
The fund is positioned as an extension of Wahed's deal-by-deal product launched last year, which lets investors buy fractional shares in individual US properties. Wahed says those properties consistently filled from waitlist users before broader release. Under the new structure, investors gain pooled exposure that adds properties automatically, without waiting for individual deals. Wahed manages acquisition, due diligence, tenant relationships and compliance. Mohsin Siddiqui, Wahed's CEO, said the fund provides "a clear route into single-family rentals through a structure that avoids debt." Ahmar Sheikh, Wahed's Head of US, said the structure is less exposed to financing conditions and interest rate cycles.
Wahed describes itself as having served more than 450,000 clients across 130+ countries since 2015, licensed in nine jurisdictions and managing more than $1 billion in assets. Securities are offered through Dalmore Group LLC, Member FINRA/SIPC, which is not an affiliate of Wahed. An offering statement has been filed with the SEC; the company notes that qualification does not imply approval of the offering's merits. The disclosures characterize the investment as speculative and illiquid, with possible loss of the entire investment, and state that investors buy fund shares rather than the underlying properties. Distributions are not guaranteed. The fund is available to non-accredited investors nationwide, subject to regulatory requirements.
The release argues that US investors seeking Shariah-compliant real estate exposure have had limited options, particularly in single-family rentals. Most private real estate funds permit leverage and are limited to accredited investors, while retail access has typically involved high minimums, weak diversification and the burden of sourcing and managing properties directly. Wahed cites National Association of Realtors data showing a national median existing-home price of $405,400 in December 2025, up roughly 60% since 2019. It also references Zillow's estimate of a 4.7 million unit housing shortage in 2025 and Goldman Sachs Research's projection that 3-4 million additional homes beyond normal construction are needed.
The fund is positioned as an extension of Wahed's deal-by-deal product launched last year, which lets investors buy fractional shares in individual US properties. Wahed says those properties consistently filled from waitlist users before broader release. Under the new structure, investors gain pooled exposure that adds properties automatically, without waiting for individual deals. Wahed manages acquisition, due diligence, tenant relationships and compliance. Mohsin Siddiqui, Wahed's CEO, said the fund provides "a clear route into single-family rentals through a structure that avoids debt." Ahmar Sheikh, Wahed's Head of US, said the structure is less exposed to financing conditions and interest rate cycles.
Wahed describes itself as having served more than 450,000 clients across 130+ countries since 2015, licensed in nine jurisdictions and managing more than $1 billion in assets. Securities are offered through Dalmore Group LLC, Member FINRA/SIPC, which is not an affiliate of Wahed. An offering statement has been filed with the SEC; the company notes that qualification does not imply approval of the offering's merits. The disclosures characterize the investment as speculative and illiquid, with possible loss of the entire investment, and state that investors buy fund shares rather than the underlying properties. Distributions are not guaranteed. The fund is available to non-accredited investors nationwide, subject to regulatory requirements.
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