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Wed 8 Oct 2008 04:00 AM

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Developer website targets owners and investors

Newly launched online real estate portal Prelaunch is set to connect hotel owners and developers with a wide range of grass roots investors who may previously been unaware of the opportunities available.

Newly launched online real estate portal Prelaunch is set to connect hotel owners and developers with a wide range of grass roots investors who may previously been unaware of the opportunities available.

Prelaunch founder and chief executive Karl Haddad said the site would offer projects - including hotels off-plan, hotel condominium apartments, mixed-use developments and commercial and residential buildings - to buyers with a proven track record.

"The advantage for the developer is that he is able to attract a new swathe of investors," Haddad explained. "It is not going to be your traditional real estate company in Dubai.

[Developers] are going to have access to several thousand high net worth and ultra high net worth individuals or proven buyers who are looking for prelaunch opportunities, who usually don't hear about projects until the launch phase.

"I am helping developers expand their market, expand their customer base and expand awareness both locally and internationally. We work as a broker in the sense that we take our commission from the developer and not from the buyer."

And the service is likely to be popular with investors as well.

"Until now there has not been a single common online platform that offers a wide range of different properties, both commercial and residential, purely at the prelaunch phase," he said. "After all, this is when all serious investors are looking to purchase to achieve the maximum Return on Equity (ROE). Our name will soon be synonymous with prelaunch investments, and will be established as the leading brand for this category of investment - a true investor's haven."

Projects will be subject to scrutiny from Prelaunch's legal and management team to ensure that legal, financial and operational due diligence are completed. Details: www.prelaunch.me

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