Ethis Dubai, part of the Ethis Group of crowdfunding platforms headquartered in Singapore, has announced its participation in the Dubai “Real Estate Investment Opportunities” (REIOs) launched by Dubai Land Development.
Ethis said the initiatives came at a time when the Dubai property market is at an upswing.
This initiative is described as a first step towards establishing robust platforms that enable innovative investment solutions to facilitate local and international investors.
Dubai reportedly signed multiple Memorandums of Understanding (MOUs) with investment companies and platforms including Ethis Dubai. Ethis Dubai also signed an MOU with MAG Development, the first such agreement between a developer and an REIO group investment company.
Ethis Dubai says it will be the first investment platform that focuses on under-construction projects in Dubai.
Investors will be able to invest alongside property developers into their ongoing projects, and gain returns from the eventual sale and payment of units. The DLD and Real Estate Regulatory Agency (RERA) will support the investor experience and provide escrow accounts for security.
“The Dubai government is at the centre of innovation and emerging models business. This initiative will further open up of the Dubai property market with investors now able to profit like property developers”, commented Mohamed Al-Aidaroos, the Chairman of Ethis Dubai.
This is Ethis’ first move into the Middle East. In 2016, Ethis was awarded the Islamic Economy Award from Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai.