Customers can now co-own an Ellington Properties’ home in Dubai through SmartCrowd

Dubai-based property developer Ellington Properties has launched its apartments on SmartCrowd, the first regulated online real estate investment platform.

Customers in Dubai can now co-own residential properties and earn healthy returns on their investments – which could be as low as Dhs5,000 – on the SmartCrowd platform.

Ellington Properties has already marked the sale of the first apartment at its Eaton Place development on SmartCrowd, which it had listed at the end of August. The property, located in Jumeirah Village Circle, was fully funded within one month of its listing, and investors are to start receiving their share of return in October 2020.

“In the new reality, we look at new ways to create value for our investors,” opines Robert Booth, managing director at Ellington Properties.

“Crowdfunding and tokenisation in real estate is a fast-evolving sector, and we are honoured to take the lead in digitising our processes and offering investors not only attractive and cost-competitive ways to co-own an Ellington apartment but also earn higher rental yield. We are offering customers the opportunity to invest in Ellington Properties, starting at a small budget before moving to own an apartment.”

Siddiq Farid, founder and CEO of SmartCrowd, said: “As a regulated digital platform that allows investors to co-own properties in Dubai in just four easy steps, we are transforming the property landscape of Dubai in tune with the new reality.

“We see tremendous potential for Dubai’s property sector, and through our crowdfunding model, more people can benefit from the long-term returns that real estate offers.”

UAE-based and international investors can both plow funds via the new digital initiative. In September 2019, SmartCrowd became the first and only financially regulated digital investment platform in the MENA region.