New crowdfunding concept targets Dubai first time buyers

Real estate firm DURISE has announced plans to launch its crowdfunding concept throughout the GCC and wider Middle East region.

DURISE said in a statement that it allows investors to invest in real estate via a crowdfunding concept for as little as $5,000. 

The concept targets potential investors who flirt with the idea of investing in real estate - such as younger and first time buyers - who abandon the idea because they find they have been priced out of the property market.

"DURISE offers both established and first time investors the opportunity to invest in real estate in the region with a low entry price and minimal risk," the company said in a statement. 

"While an investor may not be purchasing their own property outright, it is a first step to owning a percentage of a property along with other investors via a crowdfunding platform," it added.

Waleed Esbaitah, CEO and founder of DURISE, said: “I’m delighted to announce the launch of DURISE, which is a truly innovative concept fusing modern technology and traditional bricks and mortar investment.

"he makeup of the Middle East is overwhelmingly young, which translates into technology savvy investors who are comfortable with technology and the concept of crowdfunding.  At the same time, for many young investors the price point for entry into the real estate market is far too high, which is why DURISE is the perfect option for them.”

Investors will be able to sign up via www.durise.com, and either create a new account or sign in via existing social networking accounts. 

New users will immediately gain access to investment opportunities, a real estate focused community, and updated news on real estate and the region.

Esbaitah added: “Our first target is to educate the public about this exciting concept and that is why we decided to hold back on offering our services at the very start, we feel that to successfully introduce a new concept you would first need to build up trust and that can only be achieved by conveying transparency and opening a two way dialogue with our prospective clients."

He said once a new investment project is fully funded, DURISE will complete the real estate transaction.

In the event that the total funds are not raised by the crowd, DURISE said it will reimburse the investors their capital in full. Fully funded investment projects will then be managed by DURISE on behalf of investors for a minimal management fee.