Ellington Properties, Dubai’s leading design-led property developer, has set a new model in the real estate industry with the launch of its elegantly designed apartments on SmartCrowd, the first regulated online real estate investment platform, enabling customers to co-own residential property and earn healthy returns on their investments, for as low as AED 5,000.
Ellington Properties has already marked the sale of the first apartment at its Eaton Place development on SmartCrowd, which was fully funded within one month of listing.
Robert Booth, Managing Director, Ellington Properties, said: “In the new reality, we look at new ways to create value for our investors. 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. We have recorded robust response from investors to the new initiative, underlined by the successful sale of the Eaton Place apartment through crowdfunding. We are committed to offering digital-first initiatives that will contribute to strengthening Dubai’s real estate sector, which has been among the first to gain traction since the pandemic.”
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. Ellington’s design-centric homes appealed to our investors, and the quick sale of the Eaton Place apartment is testament to the confidence of investors in Ellington Properties.”
Ellington Properties listed its one-bedroom Eaton Place apartment on SmartCrowd at the end of August and gained swift response from investors, who had the opportunity to invest as low as AED 5,000 via the platform. The apartment was fully funded by investors within a month, and they will start receiving their share of return in October 2020 as per the share of investment in the apartment owned.
Ellington Properties is offering the hassle-free, secure and affordable way to invest in real estate through the crowdfunding platform. Individual investors can commence, build, and start earning income from their real estate portfolio investments through amounts starting at AED 5,000, before deciding whether to fully own the apartment. UAE-based and international investors can now co-own an Ellington Properties home through the new digital initiative.
Eaton Place is located in Dubai’s main locations, Jumeirah Village Circle and is nestled between Dubai’s most important highways – Sheikh Mohammed Bin Zayed Road and Al Khail Road as well as Hessa Street. Designed as a community focused development, comprising a collection of 110 studio,1, 2 and 3-bedroom residences overlooking a resort style courtyard, Eaton Place had gained strong investor response upon its launch and is one of the sought-after projects under Ellington Properties.
