SmartCrowd: An App for Pakistanis to Invest in Dubai Properties

With the technology development, tech is incorporated into all fields of life including real estate. Since Dubai is the first of those countries who adopt new inventions, so it has developed an app named SmartCrowd that helps users to invest in Dubai properties for as less as  AED500. Initially, Pakistan was in the grey list of the Financial Action Task Force (FATF) for four years but now since it’s free, the country wants to ease investment in their country.

By the end of this year, this app will be made available for Pakistanis so they can smoothly invest in Dubai’s real estate market. This would be in the first phase, in the second phase, the SmartCrowd app will allow both Pakistani and international users to buy shares in properties available in South Asian countries. The investment model in Dubai lies in rental yields but for Pakistan, the model will be different with the aim to benefit users through capital appreciation.

The founder and CEO of SmartCrowd Siddiq Farid said:

“Very soon, we’ll open up for residents of Pakistan to be able to use our platform to make investments in Dubai. We’re quite excited about that because there are lots of opportunities there. And in the near future, we have intentions to provide this service within Pakistan for domestic activity and for all the diaspora that wants to put money into the country but doesn’t have any organized or trusted way of doing so.”

How SmartCrowd will work?

With this app, users can choose the amount to invest in Dubai. Since SmartCrowd has enough of information of properties and has information regarding the other people who are interested in selling properties, will connect both parties through the app and in this way will help users to own a share of the real estate.

“You buy the land, you hold it or you develop on it, you construct on it and you sell it and you make nice profits,” 

The initial amount that buyers can invest, to begin with, is around Rs500,000 to Rs1 million but Farid insured that this amount will come down to make investment easier for everyone.

The idea is that low-income earners that would have never imagined they could invest in real estate are investing alongside multimillionaires that have a massive portfolios. This a little attempt at bringing about equality and leveling the playing field”.

Furthermore, SmartCrown is in talks with the Securities and Exchange Commission of Pakistan (SECP) to work around its regulations around fractional ownership. No doubt, it is big news for Pakistani and I believe all should gear up to invest in Dubai.

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