Last updated 2 years ago
Crypto investors don't have access to real estate investments via crypto funds
A platform for investors to purchase a property or join an investment fund that invests in real estate with full transparency
This is the total amount allocated to Real Estate Investment Platform.
Most important points since the idea submission:
1. Will be working with 1 software developer from Europe and a consulting company from the US to build an MVP
2. Established contact with Digishares.io - white-label blockchain solutions that we can possibly use, but ideally will build everything from the ground up, but they could assist as consultants, especially for KYC / AML integration and custody services
3. Discussing a partnership with a Blockchain Advisory firm from Dubai to assist with legal regulations for tokenization in the UAE
4. Investment flow and information needed to be stored in the smart contract is defined. Also, confirmed with the local brokerage firm on the transaction flow. More documentation here: https://docs.google.com/document/d/1DYzOGUnFRYpGxY1HPjPRXC7ZvYUjDSXTHkoVQVPCzkc/edit?usp=sharing
5. Competition analysis is also done - basically all competitors run on the Ethereum blockchain (with enormous gas fees) and a lot of them are already inactive, giving us a very good advantage to build a product and make it more affordable and easier to use. More information: https://docs.google.com/document/d/1DYzOGUnFRYpGxY1HPjPRXC7ZvYUjDSXTHkoVQVPCzkc/edit?usp=sharing
6. Dubai government already accepting crypto, it's the perfect time to start building so we are fully ready once more regulations comes out. Please note that we have some seller accepting crypto already as well as custodial partners that accept crypto and transfer the payment in fiat.
Current website with property listings from Dubai - http://estati.ae/
I'm working with 50+ clients that are investment firms and I source off-market investments, normally 20-50m EUR per asset. Most clients still invest with fiat, but with a few partners we closed a few investments with crypto payment only and we know some sellers accepting crypto as well here in Dubai, UAE.
Product - A platform enables finding investments where the seller accepts crypto and the buyer is able to acquire a property (direct investment). The establishment of a holding company and investment fund will enable to do provide a crowdfunding solution for multiple smaller investors to participate in a fund. A fund will acquire an asset, manage the property, collect rent and payout profits (in Dubai yields are 5-8%, over 10% can be during the high tourist season)
The smart contract provides tenant information, payment data, ownership record (title dee), etc. For short-term rentals (e.g. hotel rooms) visitors can pay with crypto or fiat.
To kick-off the development we will work on a listing platform that would facilitate the direct investment first (buyer-seller agreement approved in Dubai, UAE within the smart contract). Once completed, investment fund infrastructure will be built to facilitate crowd-investing, enabling smaller investors to participate in the asset acquisition.
I'll need some development help from the developer and community since I'm doing product management, design & marketing (already working on product wireframes).
I'm now in contact with one software developer and a consulting agency from the US who are happy to help with the technical development of the software. On top of that, consulting with Blockchain Advisory firm from the UAE regarding regulations when it comes to tokenization of the real estate in the UAE.
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MBA from Copenhagen Business School, 7 years of IT, product dev and marketing experience, 1.5 years in PropertyTech in Dubai