Tuesday 3 October 2023

Lootah launches platform for investors to buy property share

DUBAI, December 14, 2020

UAE-based Lootah Real Estate Development has announced the launch of a robust, technology-powered virtual property platform, Real Share, that allows fractional ownership of properties for as low as AED5,000 ($1361). 
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, said the developer in a statement. 
Real Share is the brainchild of Lootah’s mission 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. 
As a virtual investment solution, Real Share offers a simplified, yet safe and affordable channel to purchase, manage, or sell a percentage of a property asset, it added.
Real Share will eliminate the roadblocks in the processes involved in owning, managing, and selling real estate properties. In the traditional real-estate processes, when potential clients or buyers want to invest in a property, they go through real-estate brokers or intermediaries, said the statement. 
This process entails a considerable amount of time and cost of administrative tasks on both sides of the transaction, as buyers and brokers go back and forth to fulfilling property ownership requirements, it added.
CEO Saleh Abdullah Lootah 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," noted Lootah. 
"This platform will help clients diversify their investment portfolio with lower amounts rather than focusing on a single property alone," he added.
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 AED5,000 in a fraction of a property on Real Share. Data released by the REIP company also showed that they have paid out over AED500,000 in dividends to their investors with annual net returns ranging from 6 per cent to 9 per cent.
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, which comprises two modern buildings offering a total of 135 units - including studios, one- and two-bedroom units as well as one-bedroom loft apartments. 
It also features bespoke spectacular amenities such as a grand lobby, a swimming pool, a gymnasium with steam room and sauna, and covered parking spaces.
Meanwhile, Lootah’s Living Garden—one of its most sought-after properties in Jumeirah Village Circle that offers state-of-the-art facilities—will be made available on the platform by the first quarter of 2021, it added.
Lootah COO Russell Owen 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 added.-TradeArabia News Service


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