Dubai Property Platform Makes Fractional Ownership a Reality

Dubai-based real estate fractional ownership platform, PRYPCO Blocks, has achieved a significant milestone by securing funding for its first property located in the prestigious Bellevue Towers, Downtown Dubai. This successful venture highlights the growing investor confidence in both PRYPCO Blocks' innovative concept and Dubai's thriving real estate market.

The Bellevue Towers property attracted a diverse group of investors, with a total of 209 individuals from over 40 nationalities participating. The average investment amounted to AED 6, 220, demonstrating the platform's ability to make Dubai's lucrative property market accessible to a wider audience.

Founded by Amira Sajwani, PRYPCO Blocks removes the traditional barriers associated with real estate investment. The platform divides properties into smaller, equal portions called "Blocks, " enabling investments to start from as low as AED 2, 000. PRYPCO Blocks handles the entire process, alleviating investor concerns about property selection, hefty down payments, paperwork, maintenance, and tenant management.

Investor comfort is further enhanced by PRYPCO Blocks' regulation under the Dubai Financial Services Authority (DFSA). The platform adheres to strict licensing and client money regulations, with investor assets safeguarded through a dedicated Special Purpose Vehicle (SPV). This ensures legal separation between investor funds and PRYPCO Blocks' operational activities.

The meticulously chosen property, a one-bedroom apartment in Bellevue Towers, was identified by PRYPCO Blocks' specialists for its promising potential. Investors can expect an impressive projected annual return of up to 8. 13% and a potential return on investment of up to 42% over the holding period.

"I am confident that PRYPCO Blocks is on track to become the preferred platform for anyone seeking to invest in real estate, " said Amira Sajwani. "We are currently establishing the SPV and issuing individual share certificates to investors. The first rental income payout is anticipated by the end of May 2024. We are also thrilled to announce that our second property, situated in Dubai's Business Bay, is nearing complete funding. "

PRYPCO Blocks capitalizes on Dubai's booming real estate market, offering a convenient gateway for investors to participate in Dubai's prime rental properties and earn attractive monthly returns. This innovative platform is poised to democratize real estate investment in Dubai, making it accessible to a wider range of investors.