Following its success with July with its maiden investment round, Smart Crowd, is celebrating the completion its second investment opportunity in just three days. Smart Crowd is a Dubai based real-estate crowdfunding platform which allows fractional ownership of properties.

This form of co-ownership lowers the barrier of entry for property investment, which typically can be quite restrictive due to its high prices.

Via crowdfunding, Smart Crowd the chance for those without high wealth to buy and share investments in property, as well as the catering to wealthier more seasoned investors.

Smart Crowd Co-Founder Siddiq Farid says:

“We offered the chance to invest in the purchase of a studio in Jumeirah Lake Towers, one of Dubai’s most residentially-dense and popular communities. Within three days, we had achieved the investment level required, which is thrilling, and underlines the need for our visionary company and its new investment philosophy.”

Smart Crowd’s highly experienced team of negotiated a purchase price 26% below the market value of a similar property and 10% below the market value per an independent RICS certified valuator.

Only eight investors were required to achieve the purchase price – investing between AED10,000 and 125,000 each in the property. Reflecting the desirable nature of the crowdfunding concept, the nationalities investing include those from Pakistan, Ireland, and the UK.

Faizal Abdul Kadir the company’s co-founder revealed to Fintech News Middle East that they actually had to turn away potential investors. He added that they are already seeing an 11% gross yield and the company expects a rent return of 9%