Dubai: Crowdfunding is opening up as an option for local developers long used to conventional means such as bank finance.
Durise, a start-up is looking to launch its platform next month and will allow investors to take up positions from $5,000 (Dh18,365) and upwards. “The make-up of the Middle East is overwhelmingly young, which translates into technology-savvy investors who are comfortable with technology and the concept of crowdfunding,” said Waleed Esbaitah, founder and CEO of Durise.
“At the same time, for many young investors the price-point for entry into the real estate market is far too high, which is why Durise is the perfect option for them.”
Investors will sign up via www.durise.com to create a new account or sign in via existing social networking accounts. They will then get to view investment opportunities and updated news on real estate and the region. They will receive forecasts, studies, and different analytics to help choices.
Once a new investment project is fully funded, Durise will complete the transaction. In the event that the total funds are not raised by the ‘crowd’, Durise will reimburse the investors the capital in full.
Fully-funded investment projects will be managed by Durise on behalf of investors for a management fee.
