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Crowdfunding your way to a studio in Dubai

Online investment platform Smart Crowd completes a transaction for one at Remraam

Gulf News

Dubai

Want to pick up a mid-priced apartment in Dubai, but don’t have all of the funds? Try crowdfunding.

This is exactly what Smart Crowd has done, which acquired a studio in Remraam through the funding process. The transaction will offer investors an “opportunity to earn approximately 10.8 per cent gross yield and 8.68 per cent net yield,” it said in a statement.

Users of the online investment platform can engage in active management of their shares, have transparency on what properties they are investing in, and at minimum investment levels of Dh5,000.

“Real estate has always had costly gatekeeper dynamics and has been restricted to wealthy individuals and institutions due to large minimum investment amounts,” said Siddiq Farid, CEO of Smart Crowd, which is registered at DIFC.

“Real estate is the largest asset class in the world estimated at $217 trillion (Dh797 trillion), yet only 12 per cent of the world’s population has access to it. Smart Crowd caters to the remaining 88 per cent.”

Getting small investors into the property market will be a significant breakthrough for the local real estate space. Incidentally, some of the existing real estate investment trusts are also hoping to rope in these investors.

Check out  getthat.com/property  for hundreds of properties for rent and for sale in the UAE.

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