Staff Report,
Dubai, UAE
PRYPCO Blocks, a Dubai-based real estate fractional ownership platform, has announced the successful funding of its first property located in Bellevue Towers, Downtown Dubai. A total of 209 investors from over 40 nationalities have so far invested in the property, with an average investment of Dh6,220
The company simplifies property transactions within the UAE through its portal, offering precise and transparent information, the latest technology, and bespoke services to investors such as identifying a property, downpayment, paperwork, maintenance, or renting the property. The successful funding of Bellevue Towers underscores the confidence investors have placed in both the innovative concept of PRYPCO Blocks and the Dubai real estate market.
Founded by Amira Sajwani, PRYPCO Blocks has made Dubai’s lucrative real estate market accessible to all. The platform divides an entire property into small, equal fractions, called ‘Blocks’, to enable real estate investments starting from only Dh2,000.
To add to investor comfort, the platform is regulated by the Dubai Financial Services Authority (DFSA) and adheres to its strict licensing and client money provisions. The investor’s assets are safeguarded through a dedicated Special Purpose Vehicle (SPV), ensuring legal separation from the operational activities of PRYPCO Blocks.
Handpicked by PRYPCO Blocks’ experts, the one-bedroom apartment in Bellevue Towers stood out for its promising potential. The property offers an impressive projected annual return of up to 8.13 percent annually and an expected return on investment of up to 42 percent over the holding period.
“I firmly believe that PRYPCO Blocks is poised to become the preferred platform for anyone wanting to invest in the real estate sector,” says Amira Sajwani, founder of PRYPCO Blocks. “We are now in the process of setting up an SPV and issuing the individual share certificates to the investors. We expect to pay out the first rental income by the end of May 2024 and are also excited to share that our second property, located in Business Bay, Dubai, is also nearing 100% funding,” she added.
As Dubai’s real estate market continues to grow and break records, the platform offers a seamless gateway to invest in the best rental properties and earn attractive monthly rental income.
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