Adiva International Company · Riyadh

Your fund books. Live, controlled and decision-ready.

Senior fund accounting, Zakat and tax operations, and RealState — a real-estate-native platform. One reconciled record from source document to NAV, for CMA-authorised managers running private development and income funds.

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One Partner · One Platform

The platform

RealState — your books, as live fund intelligence.

Every view runs on the accounting data itself — refreshed as entries post. No lag between the ledger and the decision.

PRODUCT PREVIEW · ILLUSTRATIVE DATA

IN OPERATION REAL ESTATE FUND CLOSED-END SHARIAH COMPLIANT

Riyadh Diversified Real Estate Fund I

صندوق الرياض العقاري المتنوع الأول

Vintage 2023 · Custodian appointed by the fund manager · Headline figures SAR

Equity

SAR 0M

balance sheet

Debt

SAR 0M

12% of equity + debt

Assets under mgmt

SAR 0M

valuation midpoint

NAV / unit

SAR 0.00

fair value

NAV per unitQUARTER BY QUARTER · MARKET AT BOOK

0.00x

DPI

0.00x

RVPI

0.00x

MOIC

0.0%

XIRR · fair value

AssetsAT FAIR VALUE

PropertyTypeValue%

Rivergate ApartmentsDevelopmentSAR 450M26.6%

Horizon VillasDevelopmentSAR 370M21.9%

Orbit Office TowerIncomeSAR 520M30.8%

Crescent Retail CentreIncomeSAR 350M20.7%

Capital activityFROM THE CAPITAL LEDGER

SAR 0M

Called · 5 calls · 0 open

SAR 0M

Distributed · 5 paid

Period closeGATED

✓ Reconciliations complete ✓ Accruals posted ✓ Valuation received — Q2 2026 locked · NAV approved by the manager

Illustrative data shownRealState · One Partner. One Platform.

One reconciled record

Fund, SPV and asset books kept together. Every figure traces to the stamped source document that created it.

Controls that hold

Maker-checker on every record, payments prepared but never released by us, and a period close that gates NAV.

Reporting, from the ledger

Statements and fact sheets assemble themselves from the live record — no copy-paste, no version confusion.

Technology

Six views, live from the record.

Customised software. Not a generic ledger — the accounting logic lives in the platform, not inside spreadsheets.

Portfolio Overview

AUM, NAV, distributions and exposure across every fund and SPV.

Development

Cost, progress, budget-to-actual — every payment gated.

Sales & Leasing

Inventory, leasing, collections — live from the unit register.

Capital

Equity, debt & distributions — calls settled, net paid-in charted.

Financials

P&L, balance sheet, cash flow — quarter against quarter, read-only.

Reporting & Governance

Fact sheets EN·AR, filings, audit trail — assembled from the live record.

The market we serve

The Kingdom's real estate capital, in numbers.

SAR 0bn

in private real estate funds across Saudi Arabia

SAR 0.0bn

already trusts Adiva with its books

years of Saudi capital-markets experience behind the desk

Market figure: Capital Market Authority · 2025 annual report ↗

Who we serve

Built for the people running the funds.

CMA-authorised fund managers

The accounting and operations engine behind your funds — books, tax, payments and the platform — while regulated approvals stay with you.

See the services

Development funds

Off-plan sales under IFRS 15, budget-to-actual on every project, and payment runs that stay gated from first invoice to handover.

See the Development view

Income & yielding funds

Leases straight-lined under IFRS 16, collections tracked live, and distributions computed from the ledger — not from a side sheet.

See the platform

Family offices PLATFORM IN DEVELOPMENT

The same one-record discipline, extended to family holdings — a dedicated platform is in development.

Equity funds PLATFORM IN DEVELOPMENT

Fund accounting and operations for private equity vehicles, with a purpose-built platform to follow.

Auditors, welcome

Every figure traces to a stamped source document and a maker-checker trail. Audit season starts from the record, not a rebuild.

See the controls

Services

One partner for the fund's back office.

Accounting and operational activities for fund managers — carried out by a senior team, recorded on one platform.

Fund accounting

The books, kept

Fund, SPV and asset accounting — IFRS-aligned, audit-ready by default.

Fund, SPV and asset books — one reconciled record, closed on a fixed monthly calendar
IFRS applied across the fund's life — off-plan revenue, leases, fair values, distributions
NAV prepared on a gated period close — approved by the fund manager

Tax & Zakat

Filed, and tracked

VAT, Zakat and corporate tax — prepared, filed, and followed to the outcome.

ZATCA filing workflows, configured
Invoice-level VAT tracked from upload to refund
Transfer pricing under a Big-Four-trained director

Fund operations

The day-to-day, run

Operational activities the fund manager shouldn't carry alone.

Payments prepared — approvals stay with the manager
Valuations coordinated, distributions computed
Management & performance fees — calculated, not estimated

How it works

From source document to NAV — one traced line.

The books and the platform are one linked record. Every figure on every report traces back to the document that created it.

Source document

Invoices, statements and contracts captured, indexed and stamped at entry.

Review

Maker-checker approval on the record — preparer and reviewer both in the audit trail.

Ledger

Posted to the fund's reconciled record — fund, SPV and asset books together.

Reporting

Statements and bilingual fact sheets assemble themselves from the live ledger.

NAV

Reconciliations complete, accruals posted, valuation received — the period locks, and NAV goes to the fund manager for approval.

Assurance

Boundaries that hold. By design.

Maker-checker, everywhere

Preparer and reviewer are distinct users, enforced at record level — both stamped in the audit trail.

Payments cannot leave

Every outbound bank connector is disabled — a configuration an auditor can inspect, not a promise. Adiva prepares and reviews payment instructions; release authority remains exclusively with authorised fund-manager users at the bank.

Access, scoped

Each client environment is isolated — access scoped by client, fund, entity and role.

Gated period close

Reconciliations complete, accruals posted, valuation received — before the period locks and NAV goes for the manager's approval.

Configured to support CMA fund-reporting and ZATCA filing workflows — regulated approvals remain with the fund manager.

Billions of riyals, professionally managed — and the numbers still ran on spreadsheets. That never sat right with me.

The Founder — Adiva

Our story

Two decades in the market. One conclusion.

Who we are, in one sentence: practitioners who got tired of watching billions run on spreadsheets.

The founder has spent almost two decades inside the Kingdom's capital markets, structuring and operating the funds this market is built on.

Everywhere, the same pain point. NAVs assembled in workbooks. Versions emailed until nobody knew which one was true. Approvals living in inboxes. Every audit season beginning the same way — with a rebuild. The people were excellent. The tools were not.

So Adiva built both halves of the answer. A senior accounting and fund-operations team that keeps the books the way auditors wish every client did. And RealState — software written for real estate funds, where the books become live fund intelligence and the whole operating cycle — payments, valuations, close, reporting, distributions — runs gated, traced and easy.

That conclusion became Adiva.

Engagement models

Two models, one platform.

Both models run on the same platform — and every number traces to an entry.

Model 1 · One Partner

End-to-end with us — fund, SPV & asset accounting, tax, payments, and the platform. One team, one fee.

One team · One fee

Model 2 · One Platform

We work alongside your existing fund accountants — their books flow into the platform, and every view runs live on that data.

Plugs into your existing administrator

Next steps

See one fund traced from source document to NAV.

Sixty minutes — your operating priorities, a live trace through the ledger, and a straight answer on fit.