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SmartCrowd Launches Luxury Property Investments With Ellington Properties

Eaton Place - Ellington Properties
You can now invest in luxury real estate for as little as AED 5 000

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SmartCrowd offers luxury Ellington property for only $1400

Wednesday, August 19 – SmartCrowd, a UAE-based FinTech startup with its HQ out of Abu Dhabi’s Hub71 has expanded its portfolio of investment properties into the prime residential real estate sector. Members on the region’s first and only regulated real estate investment platform can now invest in luxury property for a one-time investment as low as AED 5,000 ($1,400).

To kick-off this new offering, SmartCrowd is offering an Ellington Property on the platform in Eaton Place. On the mark of this occasion, Founder and CEO Siddiq Farid said, “We wanted to give retail investors the same exposure the top 1% when it comes to real estate investments – and what better way than to allow people to invest in properties that are premium with all the same investment benefits? This is also an excellent way for members to take advantage of what our platform offers – true diversification at affordable price points”

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Nestled in the second most transacted area in the city this year, the investment property is a premium one-bedroom apartment in the popular area of Jumeirah Village Circle (JVC). SmartCrowd decided to launch this offering with an Ellington Property, a developer that is well-reputed to offer quality assets, with a management team that has put Dubai real estate on the map. “I think most people understand that premium residential properties do not typically generate high returns as other affordable assets because of a higher price. However, what we’re finding is that even in this market, tenants are willing to pay a premium for a product that can make a significant improvement in their quality of life,” said Ammar Malhi, Head of Client Relations.

For instance, with the current market conditions favouring tenants over landlords, the average studio in JVC can be rented for a mere AED 26,000. However, properties from Ellington are typically high in demand and can boast occupancy rates above 90%, thereby increasing rental prices for the quality on offer. Thus, in comparison to the market, an Ellington studio can fetch upwards of AED 35,000 not taking capital appreciation into account – a significant boost compared to alternatives.

As residents in the city cope with the new normal, tenant preferences for larger more spacious accommodations have become more apparent. It’s a trend that investors like Muath Alkhawsneh are noticing and want to capitalize upon.

“If you have the resources and the cash, this is the time to invest in quality real estate assets at [a] discount. I think JVC has immense potential because of the community feel and value for money it provides both tenants and landlords. Plus, with bigger spaces, tenants can work comfortably from home – a shift all of us have witnessed. It’s a win-win,” said Muath. 

Siddiq Farid’s company, SmartCrowd offers investors all over the world the ability to purchase quality real estate assets in Dubai for as low as AED 5,000 offering the same market returns an individual would expect to earn if she were to invest on his own. 

“Right now, it’s a tricky situation. A lot of people want to invest, but they’re either scared or have found that they need to keep more cash in their emergency fund. What we’re doing is making it less risky for people to invest in real estate by giving them the ability to own an asset and earn from it, without much capital. At SmartCrowd, almost our entire portfolio is generating above market returns. It’s not something we can guarantee, but it’s definitely something we are proud of in the team,” said Siddiq. 

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