Lootah launches virtual platform that allows ‘fractional ownership’ of properties
Lootah has made its property in Jumeirah Village Circle – The Waves available on the virtual investment platform
Lootah Real Estate Development has announced the launch of a technology-powered virtual property platform, Real Share, that allows fractional ownership of properties for as low as $1,361. The virtual investment platform will provide an affordable channel to purchase, manage, or sell a percentage of a property asset.
According to a statement from the developer, the platform aims to innovate the way real estate investment works, create a viable and secure means to facilitate property transactions, and allow foreign and local investors to buy and share real estate interests remotely. Real Share’s mission is to create a simple, document light, and low-cost online platform to provide investors the right access to Dubai’s residential property market, it stated.
Saleh Abdullah Lootah, CEO of Lootah Real Estate Development, said: “Whilst real estate is a superior kind of investment because of its tangible asset, passive income stream, and the potential for substantial appreciation, a lot of people find it difficult to invest in the property market because of the substantial amount of money that they have to put down for a deposit.”
“With Real Share, investors of any size can now access the real estate market. Thus, we are pleased to introduce this smart and secure virtual solution that will help foreign and local investors, especially first- and small-time investors who wish to earn from rental income remotely,” he noted.
“This platform will help clients diversify their investment portfolio with lower amounts rather than focusing on a single property alone,” Lootah added.
Lootah’s statement further said that Real Share has partnered with SmartCrowd, the region’s first financially regulated real estate investments platform (REIP), in order to provide an exceptional digital experience to users. SmartCrowd has a full licence from the Dubai Financial Services Authority — the independent regulator of financial services based in the Dubai International Financial Centre.
According to SmartCrowd, people can invest a minimum of $1,361 in a fraction of a property on Real Share. Data released by the REIP company also showed that they have paid out over $136121 in dividends to their investors with annual net returns ranging from 6% to 9%. All homeowners can list their properties for investment opportunities in the Real Share platform.
As of this date, Lootah has made available on the platform its key property in Jumeirah Village Circle – The Waves. Meanwhile, Lootah’s Living Garden will be made available on the platform by the first quarter of 2021, it added.
Russell Owen, COO of Lootah Real Estate Development, said: “Under this platform, interested investors can simply register, select a pre-vetted property, invest a fraction of the property’s value, and then start earning rental income through dividends equal to their investments.”
“Real Share takes away the barriers in real estate investing by allowing everyone across the globe to have digital onboarding process and self-service features to browse and review properties, as well as monitor investments with ease,” he concluded.
