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 Dh5,000 ($1,361).
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, says the developer.
Real Share is the brainchild of Lootah’s aim to create a simple, document light, and low-cost online platform to provide investors the right access to Dubai’s residential property market, it states.
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 adds.
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. 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 adds.
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,” notes Lootah.