Terms & Conditions

Please read these terms and conditions carefully. By accessing this website and browsing any page, you agree to comply with the Terms & Conditions outlined on the Jozo platform website and app.

Preamble

The terms and conditions set forth herein constitute the general comprehensive document for using the Jozo platform, primarily defining the elements and general characteristics of ownership through the platform.
All terms and conditions in this document are valid and enforceable. The platform reserves the right to modify, update, and develop them from time to time to protect the interests of all relevant parties, including users.
Users must read the terms and conditions carefully.
The platform provides marketing services for licensed real estate units directly from the General Authority for Real Estate, benefiting both property owners and users wishing to purchase units.
All opportunities offered on the platform are classified as medium-risk.
This preamble is an integral part of the Terms & Conditions document, to be read and interpreted accordingly, and does not limit or restrict the effects or enforceability of the terms and conditions herein or any other document the user may be subject to while using the platform.

About Jozo Platform

Dear user, Jozo is an electronic platform aiming to collect and market real estate opportunities to those wishing to purchase and own directly via property deed. The platform is not responsible for any misconduct or violations of the General Authority for Real Estate policies by property owners or related parties. Completing registration requires your agreement to the following Terms & Conditions:

Your Rights

Access all information about opportunities listed on the platform, including all information negating ignorance of the opportunity.
Authorize an operator to facilitate payment via Jozo platform to open a personal aggregate account at the bank for depositing funds to transfer to the seller.
You may file any complaint through the communication channels listed on the official website, which will be addressed as quickly as possible.
Jozo adheres to all requirements regarding user personal data protection as outlined in the platform's Privacy Policy or relevant government laws and regulations.
Jozo commits to informing you of any material changes in the property status and providing a summary of this change as soon as possible.

User Obligations

You must read the terms and conditions of the opportunity before deciding to purchase any units directly.
jozo Platform may charge a subscription fee that is determined for each investment opportunity individually. Such fees are refundable in cases where the investment cannot be completed for reasons not attributable to the investor.
Jozo platform may charge additional commissions from property owners as specified in the opportunity details.
You must protect the confidentiality of your username and password and notify us immediately if you become aware of any unauthorized disclosure or use.

Dictionary of Terms Mentioned in the Prospectus

Real Estate Fractional Ownership: Converting a property into organized fractional ownership shares that enable multiple investors to own portions of it in an official and manageable manner.
Fractional Ownership: Owning a specific percentage of a property instead of purchasing the entire property, with the right to a share of income and a share of the asset value.
Income-Generating Asset: A property ready for rental that is expected to generate periodic income from rent.
Issuance Prospectus: An official introductory document explaining the opportunity details: the asset, location, costs, expected returns, and risks.
Total Opportunity Value: The full amount required to acquire the asset including all associated costs and fees.
Asset Value: The purchase price of the property itself before adding fees and expenses.
Opportunity Structure: The framework that explains how funds are managed, shares owned, returns distributed, and assets managed.
Opportunity Manager: The entity responsible for arranging the opportunity, managing operations, and coordinating between owners and asset operators.
Real Estate Broker: A legally licensed entity that undertakes the acquisition process and real estate transactions.
Unit Operator: The company responsible for operating, renting, and managing the property daily.
Property & Facility Management: The entity responsible for maintenance, collection, tenant follow-up, and maintaining asset quality.
Acquisition Ticket: The amount chosen by the buyer to enter the opportunity (can be small or large according to preference).
Minimum Acquisition: The minimum amount that can be purchased in the opportunity.
Maximum Acquisition: The maximum percentage that a single buyer can own in the opportunity.
Ownership Percentage: The share that the buyer owns of the total property.
Expected Distributions: The expected cash income to be distributed to owners from rental revenues.
Expected Annual Return: The estimated percentage of annual income compared to the acquisition value.
Internal Rate of Return: An indicator estimating the total return on acquisition throughout the entire opportunity period, taking into account time, income, and exit value.
Total Expected Income: Sum of expected rental income + expected sale value at the end of the opportunity.
Capital Multiplier: Shows how many times the buyer's capital may multiply by the end of the opportunity period (e.g., 1.7×).
Opportunity Duration: The estimated period for holding the opportunity before exit.
Exit: Selling the asset at the end of the period and distributing its value to owners according to their shares.
Capital Appreciation: The difference between the property purchase price and its expected future selling price.
Capital Expenses: All acquisition costs such as brokerage, taxes, valuation, technical inspection, and Jozo fees.
Opportunity Management Fees: Annual fee for managing, operating, and following up on the opportunity.
Property Valuation: A report issued by a certified appraiser determining the fair market value of the property.
Technical Inspection: Inspection of the property by the opportunity manager before acquisition.
Jozo Client Account: A dedicated account through which owners' funds are managed in an organized and independent manner during the acquisition period.
Fractional Ownership Property Deed: Linking digital ownership directly to the official property deed record.
RER ID: Asset identification number in the Saudi real estate registry, proving the property is officially registered.
Experimental Regulatory Environment: A regulatory framework supervised by the General Authority for Real Estate to test new models in an organized and safe manner.
General Authority for Real Estate: The government entity regulating the real estate sector in the Kingdom.
Furnished Asset: A unit fully ready for operation and rental.
Residential Asset: A property designated for residential use and not commercial or industrial.

Terms and Conditions for Real Estate Ownership Opportunities via Fractional Ownership with Jozo

Clear Explanation for Users

Nature of Opportunities: All opportunities offered via 'Jozo' represent fractional ownership in actual income-generating real estate assets.
Type of Ownership: Participation is through ownership of specific shares in a single real estate asset.
Rights of Share Owner: The share owner has the right to receive their share of rental income and their share of the asset value upon exit, according to their ownership percentage.
Regulatory Framework: 'Jozo' operates within the experimental regulatory environment affiliated with the General Authority for Real Estate. This product/service is currently under testing.
Asset Legitimacy: All assets are linked to official real estate records and transactions are conducted through licensed real estate entities.
Ownership Mechanism: The user selects the opportunity and determines the share value they wish to own, representing an actual ownership percentage of the asset.
Amount Management: Amounts are collected in a dedicated account for Jozo clients to complete the acquisition of the asset.
Start of Operation: After acquisition is complete, the asset operation and income distribution phase begins.
Role of 'Jozo' Platform: Platform management, opportunity regulation, supervision of structuring, and operation follow-up.
Operating Entities: A unit operator is assigned for rental and operation, and a property & facility manager for maintenance, collection, and follow-up.
Income & Distributions: Income is distributed after deducting operational expenses and declared fees. All figures are estimates and not guaranteed.
Ownership Duration: Each opportunity has an estimated duration specified in the issuance prospectus.
Exit: At the end of the period, the asset is sold and its value is distributed to share owners according to their ownership percentages after deducting obligations.
'Jozo' Platform Fees: Fees for opportunity preparation, structuring, technology, and operations supervision.
Annual Management Fees: Fees for asset management, operation, and follow-up.
Performance Fees: 'Jozo' is entitled to a performance fee of 20% of any increase exceeding 20% in the asset value upon exit.
Risks: The real estate market is variable. Income and value are not guaranteed. Asset value may increase or decrease.
User Responsibility: The share owner bears responsibility for their ownership decision and is obligated to review the issuance prospectus and all details.